Cheque Truncation System (CTS)

byPaytm Editorial TeamLast Updated: September 10, 2025

Definition

CTS stands for Cheque Truncation System. It is a system where physical cheques are converted into electronic images for faster processing.

Benefits

  • Reduces clearing time.
  • Minimizes fraud risk.
  • Improves efficiency in cheque clearing.

You May Also Like

UPI Payment ConfirmationLast Updated: September 16, 2025

Definition UPI payment confirmation is the notification received by both payer and payee once a transaction is successfully…

Video KYCLast Updated: August 19, 2025

Definition Video KYC (Know Your Customer) is a digital method of verifying a customer’s identity through live video…

UPI Merchant IDLast Updated: September 22, 2025

Definition A UPI Merchant ID is a unique identification number assigned to each merchant using UPI for payments.…

Multi-Bank LinkingLast Updated: September 16, 2025

Definition Multi-bank linking means connecting more than one bank account to a single digital payment platform, such as…

PayerLast Updated: September 16, 2025

Meaning The payer is the individual or entity who initiates a payment to another person or merchant. The…