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  2. A chip card is a debit or credit card that contains an embedded microchip along with the traditional magnetic stripe. The chip provides consumers with additional security when making transactions at stores, terminals, or ATMs because they're harder to skim.
    www.investopedia.com/terms/c/chip-card.asp
    When you use a chip card to make a payment, the smart chip electronically transmits an encrypted, single-use code to a merchant’s card reader, allowing the merchant to securely process your payment.
    www.thebalancemoney.com/what-is-a-chip-card-51…
     
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    What is a chips payment system?These financial intermediaries allow you to settle accounts and complete purchases quickly, conveniently, and safely. The CHIPS system is one of the primary clearing houses used for large financial transactions in the United States. Here's how CHIPS payments work and how you can integrate this system into your business.
    What is chips – clearing house interbank payments system?What Is CHIPS: Clearing House Interbank Payments System? CHIPS stands for Clearing House Interbank Payments System, and it’s the largest private-sector, US dollar-based, money transfer system in the U.S. It’s a privately operated, and bank owned, system for electronic payments that are transferred and settled in US dollars.
    What is CHIP health insurance?The Children’s Health Insurance Program (CHIP) offers low-cost health coverage for children from birth through age 18. CHIP is designed for families who earn too much money to qualify for Medicaid but cannot afford to buy private health coverage. We offer CHIP in more than 20 counties in the Jefferson and Harris Service Areas. How does CHIP work?
    texaschildrenshealthplan.org
    How would a CHIP Payment work?Instead of allowing two transactions for the full amounts, CHIPs would consolidate these into a single payment of $1M from Modern Bank to Card Network X. Though this means that CHIPS payments take longer than real-time transactions, most payments still settle intraday.
     
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    Clearing House Interbank Payments System - Wikipedia

    The Clearing House Interbank Payments System (CHIPS) is a United States private clearing house for large-value transactions. As of 2023, it settles approximately 500,000 payments totaling US$1.7 trillion per day. Together with the Federal Reserve Banks' Fedwire Funds Service, CHIPS forms the primary U.S. … See more

    CHIPS differs from the Fedwire payment system in three key ways. First, it is privately owned (by The Clearing House Payments Company LLC), whereas the Fed is part of a … See more

    Clearing (finance)
    ACH Network - electronic payment network in the United States
    CHAPS - the UK equivalent of CHIPS See more

    CHIPS is owned by the financial institutions. According to the Federal Financial Institutions Examination Council (FFIEC), an interagency office of the United States government, "any banking organization with a regulated U.S. presence may … See more

     
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  5. CHIPS | The Clearing House

  6. What Is the Clearing House Interbank Payments …

    WebFeb 24, 2021 · The Clearing House Interbank Payments System (CHIPS) allows large interbank transactions in the U.S. to clear. CHIPS is slower but less expensive than the other major interbank clearing...

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