RTGS
Real-time gross settlement systems (Fedwire, TARGET2, BOJ-NET and peers) move large bank-to-bank payments with finality during the day.
Moving money is a stack of institutions: central-bank settlement, commercial banks, card schemes, messaging networks and cash. Here is the plumbing behind everyday payment.
SWIFT
SWIFT is a messaging network, not a ledger. It carries payment instructions that banks then settle through correspondent accounts or CLS.
Cards
Visa, Mastercard and domestic schemes authorise and clear retail purchases; settlement still ends in bank money.
Remittances
Migrant workers send money home through banks, money-transfer operators and increasingly mobile wallets — a major FX flow for many emerging markets.
Instant retail rails
Faster Payments, UPI, Pix, FedNow and peers settle small payments in seconds inside a currency area, reducing the need for cash and delayed ACH.
CBDC experiments
Central bank digital currencies aim to put public money on new rails. Most projects remain pilots; cash and bank deposits still dominate everyday balances.