CHAPS
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What is CHAPS?
CHAPS (Clearing House Automated Payment System) is a UK payment system guaranteeing same-day payment for high-value transactions. It is primarily used for time-critical, large-value payments, such as property purchases and corporate transactions. CHAPS payments are irrevocable and offer certainty of settlement on the same day.
What other technologies are related to CHAPS?
CHAPS Competitor Technologies
BACS
BACS is a UK payment system mainly used for direct debits and direct credits. While not real-time like CHAPS, it is an alternative payment method, making it a competitor for certain types of transactions.
Faster Payments
Faster Payments (FPS) is a UK payment system for near real-time payments. It directly competes with CHAPS for faster, smaller value payments.
SEPA
SEPA (Single Euro Payments Area) facilitates euro payments across Europe. It provides an alternative to CHAPS for cross-border euro payments, making it a competitor.
Target2
TARGET2 is a real-time gross settlement (RTGS) system for euro payments across the Eurosystem. As an RTGS system, it's a direct competitor to CHAPS, which is also an RTGS system.
CHIPS
CHIPS (Clearing House Interbank Payments System) is a US payment system for large-value transactions, primarily in US dollars. It competes with CHAPS for international USD payments.
Fedwire
Fedwire Funds Service is a real-time gross settlement system in the US. It is a direct competitor to CHAPS for large-value USD payments.
FPS
FPS (Faster Payments Service) is a UK payment system for near real-time payments. It directly competes with CHAPS for faster, smaller value payments.
ACH
ACH (Automated Clearing House) is a US payment system for electronic funds transfers. It is an alternative to CHAPS, making it a competitor for certain types of transactions.
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CHAPS Complementary Technologies
ISO20022
ISO 20022 is a messaging standard used in payment systems. Its adoption enhances interoperability and data richness, making it complementary to CHAPS.
RTGS
RTGS (Real-Time Gross Settlement) is a type of payment system, and CHAPS is an RTGS. Thus, the RTGS concept is closely related and complementary.
Swift
SWIFT is a messaging network used for secure financial transactions, including CHAPS payments. SWIFT facilitates the exchange of payment messages, making it complementary.
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Which job functions commonly mention CHAPS?
Consultant
84 Consultant jobs mention CHAPS
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jobs on Sumble
Data Analyst
115 Data Analyst jobs mention CHAPS
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jobs on Sumble
Data, Analytics & Machine Learning
116 Data, Analytics & Machine Learning jobs mention CHAPS
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jobs on Sumble
Analyst
43 Analyst jobs mention CHAPS
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jobs on Sumble
Operations
149 Operations jobs mention CHAPS
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jobs on Sumble
Which organizations are mentioning CHAPS?
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