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Payment Service Provider

A paper instrument, addressed to a bank branch, instructing it to credit a specified sum of money to a named account at that branch. A papercredit cannot be used on its own and must be accompanied by cash An institution providing payment services, including: services enabling cash to be paid into an account; services enabling cash withdrawals from an account; execution of payment transactions, including transfers of funds on an account; execution of payment transactions where the funds are covered by a credit line;issuing and acquiring of payment instruments; and money remittance.

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