/Within the scale of national economy/, /transfer payments/ are /payments made by a state or by relatively richer sections of society/ in favour of the poorer segments of the population of that country/. /This can usually be implemented through/ the system of social welfare/, child and unemployment benefits/, pensions paid to widows/ and etc.
/Such payments/ are not made in exchange for goods and services/, but with income redistribution purposes/.
/International transfer payments/ include non-repayable financial aid/ provided for developing countries by more developed countries/ as well as programmes and campaigns/ organized by private volunteer institutions/ that are registered in one country/ and distribute the welfare support among the population of another country/.
/Such payments/ are considered as a constituent part of the current account/ in the balance of payments/.