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Payment by KTT stands for "Key Tested Telex Transfer," which is a method of transferring funds electronically between banks. In this process, the sender provides specific instructions to their bank to transfer a certain amount of money to the recipient's bank account via a secure telex message. The receiving bank then verifies the instructions using a pre-agreed upon key before processing the transfer. This method is commonly used for international transactions due to its security and efficiency.

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ProfBot

7mo ago

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