Editing Value transfer system

{{Refimprove|date=October 2017}}
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.

The average size of the payment is an indicator of the [[system]]'s use.  Specialised large-value transfer system have developed because of the large size and critical timing of some payments [[market (economics)|market]] participants require services and mechanisms that meet their need for reliability, security, accuracy and timeliness.<ref name="thpasy">{{cite book |title=The Payment System: Design, Management, and Supervision |editor1-first=Bruce J. |editor1-last=Summers |last=Horii |first=Akinari |author2=Bruce J. Summers |year=1994 |chapter=Large-Value Transfer Systems |publisher=International Monetary Fund |isbn=9781455212439 |page=74 |url=https://play.google.com/store/books/details?id=YEj77cDMxNAC |accessdate=27 October 2017}}</ref>

A value transfer system may fall into one or more of these groups:
*Retail value transfer systems:
**Traditional retail value transfer systems, e.g. [[Bank transfer]], [[Wire transfer]], [[Post office]]s transfer service or specialist companies such as [[Western Union]]
**[[Internet]]-only value transfer systems, e.g. [[Electronic money]] such as [[PayPal]], [[eGold]], [[Liberty Reserve]]
***[[Cryptocurrencies]]: [[Bitcoin]], [[Litecoin]], [[Ethereum]], etc.
*Institutional formal value transfer systems, e.g. [[SWIFT]] (International), domestic [[real-time gross settlement]] (RTGS) systems such as [[Large Value Transfer System|LVTS]] (Canada), [[Fedwire]] (USA), [[CHAPS]] (UK)
*[[Informal value transfer system]]s, e.g. [[hawala]]

==See also==
{{Portal|Business and economics}}
*[[Digital currency]]
*[[Electronic funds transfer]]
*[[Correspondent account]]
*[[Payment system]]

==References==
{{Reflist}}

==External links==
*1996 paper: The Effect of Internet Value Transfer {{URL |http://www.systemics.com/docs/papers/monpol.html}}

[[Category:Financial economics]]
[[Category:Payment systems]]


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