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Explain the Payment Factory concept. Provide the statistics of payments flows (value and volume) in EU...

Explain the Payment Factory concept.

Provide the statistics of payments flows (value and volume) in EU countries for years 2018, 2019, 2020.

please precisely the answer.

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Answer #1

An installment industrial facility is a stream instrument to improve authority over and effectiveness of installments. The essential idea is to bring together installments in a solitary procedure, which executes installments for all or most working elements. Installment processing plants are Shared Service Centers (SSCs) for installments.

There are a few variations of installment manufacturing plants, extending from exacting installment preparing to In-house Banks (IHB), (which among different highlights likewise goes about as an installment production line).

Installment manufacturing plants are information and procedure concentrated so they expect frameworks to work. The most widely recognized arrangements use ERP or TMS usefulness or a mix of the two. Some installment specialist organizations additionally spread installment production line usefulness.

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