Value transfer system

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A value transfer system refers to any system, mechanism, or network of people that receives money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form.

A value transfer system may fall into one or more of these groups:

• Informal value transfer systems, e.g. hawala.

• Retail value transfer systems:
  • Traditional retail value transfer systems, e.g. Western Union. (Also, banks and post offices usually support various forms of transferring funds.)
  • Internet-only value transfer systems, e.g. PayPal, eGold or Electronic money.
  • Combined Retail/Internet value transfer systems, e.g. cash at retail in exchange for electronic money such as PaidByCash.

• Institutional formal value transfer systems, e.g. SWIFT (International), LVTS (Canada), Fedwire (USA).

[edit] External links

• http://www.systemics.com/docs/papers/monpol.html 1996 paper: The Effect of Internet Value Transfer