CNAPS
China National Advanced Payment System
CNAPS is China's national interbank payment system for domestic RMB transfers. It includes high-value settlement and bulk clearing services used by banks across the country.
The system is operated by the People's Bank of China and supports nationwide settlement across participating financial institutions. It is separate from CIPS, which focuses on cross-border RMB payments.
Related Terms
CNY
Chinese Yuan
CNY is the official currency of the People's Republic of China, also known as the renminbi (RMB). It...
RTGS
Real-Time Gross Settlement
RTGS is a funds transfer system where money moves from one bank to another on a real-time and gross ...
CIPS
Cross-Border Interbank Payment System
CIPS is China's cross-border payment system for renminbi (RMB) transactions. It provides clearing an...
EFT
Electronic Funds Transfer
EFT is a broad term for any transfer of money from one bank account to another through electronic me...
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