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integrated payment systems

Comprehensive Analysis

1) "Integrated" -- As to integrated payment systems in·te·grate Pronunciation: 'in-t&-"grAt Function: verb Inflected Form(s): -grat·ed; -grat·ing Etymology: Latin integratus, past participle of integrare, from integr-, integer transitive verb 1 : to form, coordinate, or blend into a functioning or unified whole : UNITE 2 : to find the integral of (as a function or equation) 3 a : to unite with something else b : to incorporate into a larger unit 4 a : to end the segregation of and bring into equal membership in society or an organization b : DESEGREGATE <integrate school districts> intransitive verb : to become integrated Pronunciation Symbols Integration is a process of combining or accumulating. It may also refer to: The bringing together of two or more economies, cultures, religions (usually called syncretism), etc. Integration, in mathematics, a concept of calculus, is the act of finding integrals Indefinite integration, in mathematics, refers to antidifferentiation Racial integration, refers to social and cultural behavior; in a legal sense, see desegregation Political integration, the centralisation of power within a polity Economic integration Regional integration Horizontal integration and vertical integration, in microeconomics and strategic management, refer to a style of ownership and control Integration clause, in a contract, a term used to declare the contract the final and complete understanding of the parties In computer science Digital integration, in computer science, allows data from one device or software to be read or manipulated by another, resulting in ease of use; see also XML Enterprise application integration, also known as systems integration, as the use of software and computer systems to bring together a set of enterprise computer applications Disintegration Integral (disambiguation) ..." 2) "Payment" -- As to integrated payment systems pay·ment Pronunciation: 'pA-m&nt Function: noun 1 : the act of paying 2 : something that is paid : PAY 3 : REQUITAL Pronunciation Symbols A payment is the transfer of wealth from one party (such as a person or company) to another. A payment is usually made in exchange for the provision of goods, services, or both, or to fulfill a legal obligation. The simplest and oldest form of payment is barter, the exchange of one good or service for another. In the modern world, common means of payment by an individual include money, check, debit, credit, or bank transfer, and in trade such payments are frequently preceded by an invoice or result in a receipt. However, there are no arbitrary limits on the form a payment can take and thus in complex transactions between businesses, payments may take the form of stock or other more complicated arrangements. In law, the payor is the party making a payment while the payee is the party receiving the payment. Payments may be classified by the number of parties involved to consummate a transaction. For example, a credit card transaction in the United States requires a minimum of four parties (the purchaser, the seller, the issuing bank, and the acquiring bank). A cash payment requires a minimum of three parties (the seller, the purchaser, and the issuer of the currency). A barter payment requires a minimum of two parties (the purchaser and the seller). In 2005, an estimated $40 trillion globally passed through some type of payment system. Roughly $12 trillion of that was transacted through various credit cards, mostly the 21,000 member banks of VISA and MasterCard. Processing payments, including the extending of credit, produced close to $500 billion in revenue. (Source: McKinsey and Company, 2006) APACS (The UK Payments Association) Trade Financial transaction Money Accounting Commerce Business ..." 3) "Systems" -- As to integrated payment systems sys·tem Pronunciation: 'sis-t&m Function: noun Etymology: Late Latin systemat-, systema, from Greek systEmat-, systEma, from synistanai to combine, from syn- + histanai to cause to stand -- more at STAND 1 : a regularly interacting or interdependent group of items forming a unified whole <a number system>: as a (1) : a group of interacting bodies under the influence of related forces <a gravitational system> (2) : an assemblage of substances that is in or tends to equilibrium <a thermodynamic system> b (1) : a group of body organs that together perform one or more vital functions <the digestive system> (2) : the body considered as a functional unit c : a group of related natural objects or forces <a river system> d : a group of devices or artificial objects or an organization forming a network especially for distributing something or serving a common purpose <a telephone system> <a heating system> <a highway system> <a computer system> e : a major division of rocks usually larger than a series and including all formed during a period or era f : a form of social, economic, or political organization or practice <the capitalist system> 2 : an organized set of doctrines, ideas, or principles usually intended to explain the arrangement or working of a systematic whole <the Newtonian system of mechanics> 3 a : an organized or established procedure <the touch system of typing> b : a manner of classifying, symbolizing, or schematizing <a taxonomic system> <the decimal system> 4 : harmonious arrangement or pattern : ORDER <bring system out of confusion -- Ellen Glasgow> 5 : an organized society or social situation regarded as stultifying or Systems is an annual information and telecommunications trade fair in Munich, Bavaria, Germany ..." 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