The Chief Technology Officer must be able to do the following task in their job function: 1  The Chief Technology Officer with a team of Information Technology decision makers, are responsible for building the IT framework, policy and safeguards of a business unit.he CTO works with all facets of the business and has cross functional responsibilities for IT and Management as well as external partners in making sure that the information technology infrastructure and digital property is fully operational.
A payment system is any system used to settle financial transactions through the transfer of monetary value, and includes the institutions, instruments, people, rules, procedures, standards, and technologies that make such an exchange possible.hese include debit cards, credit cards, electronic funds transfers, direct credits, direct debits, internet banking and e-commerce payment systems. Some payment systems include credit mechanisms, but that is essentially a different aspect of payment.
ACH payments are electronic payments made through the Automated Clearing House Network. Funds move from one bank account to another with the help of an intermediary that routes funds to the final destination. Computerized payments can provide benefits to both merchants and consumers. Payments are inexpensive, they can be automated, and record-keeping is easier with electronic payments.