Question: In an open-loop payment system, the end parties while in a closed-loop payment system, they enter into direct agreements with the system; enter into agreements

In an open-loop payment system, the end parties while in a closed-loop payment system, they enter into direct agreements with the system; enter into agreements with banks belonging to the system can withdraw at any time from the system; have to sign a long-term contract with the system enter into agreements with banks belonging to the system; enter into direct agreements with the system are not charged a fee each time they use the system; are charged a fee each time they use the system

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