Glossary of terms

updated 1 September 2014

The Committee on Payments and Market Infrastructures (CPMI) provides this comprehensive glossary of payment system terminology as a reference tool for the standard terms used in connection with payment, clearing and settlement systems. It combines various glossaries appended to earlier reports. By bringing together all the terms and concepts associated with payment and settlement systems, it aims to provide readers with a single and easily accessible source with which to reference the generally accepted definitions of standard payment system terminology.