Retail payments systems are method used to make small payments by individuals and businesses. The most popular method is via cash. These are the payment systems, other than cash, that ca be use in daily life.
Retail payments in Malaysia can be divided into three categories
1. Types of retail payment systems
- National Electronic Cheque Information Clearing System (eSPICK) and Cheque Truncation and Conversion System (CTCS)
- Shared ATM Network (SAN)
- Interbank Giro (IBG)
- Financial Process Exchange (FPX)
- Direct debit
2. Types of retail payment instrument
3. Types of retail payment channels
- Internet banking
- Mobile banking
- Mobile payment
