The following answer comes from Beijing Chengli Financial Agency

There are many specific classifications of settlement systems, such as payment settlement systems, bank settlement systems, international settlement systems, futures trading settlement systems, Multilateral settlement system, etc.

The system is a big concept, which refers to supporting all components related to payment and settlement. The payment and settlement system is one of the most important financial infrastructures of a country. It is composed of four parts: first, legal regulations, such as payment and settlement methods; second, payment tools, such as checks, money orders, etc.; third, payment systems, such as large and small payment systems; fourth, payment and settlement service entities, such as banks , UnionPay, third-party payment and settlement institutions, etc. Several organizational parts interact and support each other to jointly realize the normal operation of payment and settlement social functions.