The payment system framework provides rules and decision-making structures that enable the transfer of value between providers of payment services (clearing). This framework enables participants to accept obligations from other participants within the framework, with a high degree of mutual confidence.
APCA administers five payment systems (or clearing systems as they are known), each managed by a committee of management reporting to APCA's board. APCA provides the rules, procedures and decision-making framework for the clearing of transactions in these payment systems.
The Regulations and Procedures for each system have the effect of a contract under seal between APCA and each participating member in that system, and between the participating members in that system.
The five APCA clearing systems relate to cheques, direct entry, cards and accepting devices, high value and cash transactions.