Payment Intermediary
/ˈpeɪmənt ˌɪntərˈmiːdiɛri/
Definitions
- (n.) An entity that facilitates the transfer of funds between a payer and a payee, acting as an intermediary in payment processing.
The payment intermediary managed the transaction between the buyer's bank and the seller's account.
- (n.) A regulated service provider that processes, clears, or settles payment transactions in financial services law.
Under the new regulations, payment intermediaries must comply with anti-money laundering requirements.
Forms
- payment intermediary
- payment intermediaries
Related terms
See also
Commentary
The term typically refers to both non-bank and regulated entities facilitating payments; clarity about regulatory status may be required in legal drafting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.