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This paper intends to identify various risks involved in the Large Value Payment System (LVPS). The nature of risk depends of various parameters, such as parties involved, mode and time of settlement and extent and type of technology used. The measures which could control and reduce risks are also discussed. The author concludes that institutional support (such as that of central banks) is a prerequisite and a conditio sine qua non for making payment systems and thus settlements safe and less risky. Journal of Internet Banking and Commerce
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