Discussion On Construction And Improvement Of Payment System

As the world economy is globalized together along with the rapid development of the computer network technology, payment system has become an indispensable part of banking system in the market economy as well as the basis for banking industry existence, development and competition nowadays. Without a consummate and efficient payment system, there would not be a prosperous and stable market economy.Through analyzing the payment system theory in detail so as to gain a profound comprehension of the payment system of the developed countries, this thesis tries to generalize some construction and development rules of payment system. Furthermore, through retrospecting China National Automated Payment System(CNAPS), I attempt to come up with some ideas for this system progression.Payment system comprises the legislation of administrating monetary property devolution, finance media institution offering payment services and technical means of providing payment. Its participants include non-banks, commercial banks, Clearing House and central bank.Risks and the related management are one of most important problems in the payment system. The central bank has responsibility to manage credit, liquidity and system risks. But as far as some risks caused by uncertainty of laws are concerned, they could be controlled by constructing consummate and compound finance legislation system and cultivating expertise of mastering finance business and legislation principles.Because the central bank lies in the bottom of payment system construction, functions of the central bank are very important. It functions lie in supervising, operation and policy-making . That is to say, the central bank may exert its relevant momentous effects on several fields as follows:⑴supervising clearing institutions;⑵offering settlement between accounts;⑶running wholesale transaction system;⑷establishing proper policies to guide institutions that offer private liquidation and settlement.In common with systems around the world, the Dutch payment system has been influenced in recent years by technological innovation and evolving payment habits. In the Netherlands there is no specific legislation governing payment; the normal civil and commercial laws afford that function. And its banking sector consists of commercial banks, banks organized on a co-operative basis, saving banks, the Postbank, mortgage banks and security credit institutions. The latter two types of institution have access to the payment system only through an account at a deposit-taking institution, so they do not offer payment services.As the central bank of the Netherlands, De Nederlandsche Bank is a limited liability company in which the central government holds all the shares. Its functions include managing currency circulation in the Netherlands and finance institutions, establishing and carrying out the monetary policy related to payment system, etc.The Policy Committee on Payment System of the Dutch Banking Association is the main national consultative body concerned with payment system in the private sector. The Committee, in which the Postbank also participates, deals with general issues related to the infrastructure and to both retail and wholesale products on a policy level. In the Netherlands payment media used by non-banks consist of cash payment, credit transfers, direct debits, cheques and payment cards, etc. And interbank exchange and settlement system comprises National Payment system, De Nederlandsche Bank's current account system(RTGS), the 8007-sytem(LVTS), the Postbank circuit and the Interpay system.In our country, with the rapid development of the market economy and deep reform of finance system, the national leaders pay more attention to the modernization of the payment system and banking management than ever. Under this background, China National Automated Payment System(CNAPS) was born. With advanced technology, CNAPS is a safe and credible, efficient and economic finance service system. Its functions include finance pay...