Payments instruments basically convey relevant information regarding the transfer of
monetary value from one party in a transaction to the other. Such information may, for example,
include the face value of the payment, the identity of the parties and their intermediaries, the
transaction date, and the value or settlement date. These instruments and their processing systems
are generally low-cost relative to the value transferred per item, provide a high degree of confi-
dence in the authenticity of the value transferred, and are generally acceptable as evidence of
value received.