09/02/2018 3:38:00 09/02/2018 3:38:00 Whatispedia

09/02/2018 3:38:00 Clearing House Interbank Payment Systems (CHIPS) Clearing House Interbank Payment Systems (CHIPS)

Clearing House Interbank Payment Systems (CHIPS)

A “real time,” multilateral, final payments system for large dollar value, business-to-business payment transactions between domestic or foreign institutions that have offices located in the United States. CHIPS is run by CHIP Co. LLC, a subsidiary of The Clearing House Payments Company, LLC.