Which of the following is NOT one of the four main types of payment risks?

The correct answer is that market risk is not considered one of the four main types of payment risks.

Payment risks typically involve challenges and uncertainties that can affect transactions made through various payment systems. Operational risk refers to the failures resulting from inadequate or failed internal processes, people, and systems, or from external events, which can directly impact payment processing. Credit risk relates to the likelihood of a counterparty defaulting on a payment obligation, while compliance risk deals with the potential for legal or regulatory penalties arising from violations of laws and regulations governing payment systems.

While market risk, involving the potential losses due to fluctuations in market conditions—such as changes in interest rates or foreign exchange rates—can influence overall financial performance and strategy, it does not specifically pertain to the immediate risks associated with payment transactions. Thus, market risk stands out from the primary categories that focus directly on transactions and their operational environments in the context of payment systems.