Payment infrastructures encompass various methods and processes that enable individuals, businesses, and financial institutions to transfer money or other forms of value between each other. These systems, which can range from traditional cash, cheques, and bank transfers, to newer digital payment technologies like mobile payments, online transfers, and cryptocurrencies, work by processing and verifying transaction details. They facilitate the transfer of funds between different parties securely and efficiently, playing a crucial role in the global economy.

Cross-border payments involve transferring money or other forms of value from a party in one country to a party in another. These transactions can be complex, involving multiple intermediaries, currency conversions, and regulatory compliance checks. Despite the challenges, such as potential delays, costs, and risks of fraud, cross-border payments facilitate global trade and commerce, support financial inclusion, and provide new opportunities for businesses and individuals.

A clearing house is a financial institution that acts as an intermediary between buyers and sellers in financial markets. They ensure that transactions are conducted in an orderly, efficient, and secure manner. Clearing houses play a critical role in various types of financial transactions, including those related to securities, derivatives, and commodities.

Emerging technologies are revolutionising the payments industry by introducing faster, more secure, and more efficient methods of transferring value. Innovations such as blockchain, digital currencies, mobile payment platforms, and open banking are transforming traditional payment systems, offering benefits like real-time transactions, enhanced security, and improved customer experience.

Payment systems are regulated by a combination of government bodies, industry organisations, and self-regulatory bodies. These entities set rules and standards for payment systems, monitor their performance, and intervene if necessary to address issues or mitigate risks. Regulations and standards are crucial for ensuring the safety, security, and fairness of payment systems, protecting consumers and businesses from fraud and other risks.