What does CPS represent in electronic transactions?

CPS in the context of electronic transactions typically stands for "Card Payment System." This term refers to the infrastructure and processes that facilitate the acceptance and processing of credit and debit card payments for goods and services. A Card Payment System involves the various entities that work together to authorize transactions, settle payments, and ensure secure data transmission between consumers, merchants, and financial institutions.

Understanding CPS is crucial in recognizing the various components involved in electronic transactions, including transaction processing, security measures, and compliance with relevant regulations. The significance of CPS encompasses the technological innovations and standards that affect how payments are processed globally, impacting efficiency and customer experience in the payments landscape.