Learn #banking, #fintech and #payments jargon: Payment Message

By | June 28, 2021

Payment Message

Definition:

A set of data transferred via an electronic mechanism representing the sender and receiver of the transaction and the amount to transfer, which enables the settlement of transactions between participants in a payment system.

Details:

In layman terms (not using the banking jargon) a payment message is an electronic representation of a payment.

Note:

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.

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