Large-value payment systems are systems designed to process large-value or urgent payments. Although, as a rule, there is no minimum value to be processed through such systems, the average value of payments is usually large.

By contrast, small-value payment systems are designed to process a great number of small-value payments in the form of cheques, credit transfers, direct debits and payment card payments.

All large-value payment systems are of systemic importance for the functioning of the financial market and the country’s financial stability. By contrast, small-value payment systems are not necessarily of systemic importance, but are important in terms of strengthening the public trust in mechanisms and manner of executing payment transactions.

Criteria for Classification of Small-Value Payment Systems