The settlement of funds and securities transfer, which is affected individually on an order-by-order basis, i.e. without netting debit against credit payment transfers.
In laymen terms this is basically the simplest possible payment operation. One actor gives money to another actor in a form that is recognized by both parties as a transfer of value.
This is a series of posts with definitions for the jargon used in #banking, #fintech and #payments.
Too many people use some terms without understanding them beyond the definition.
Too many “experts” use the terms but they never had experience with the actual implementation of anything in #banking, #fintech and #payments.