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EFT (Electronic Funds Transfer)
The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.
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ARC (Accounts Receivable Entry)
An ARC entry is a one time debit entry to the account of a receiver whom has previously been notified that their check (source document) will be converted into a single entry ACH transaction. The receiver must provide the source document to the originator via a drop box location or through the U.S. mail.
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Value Added Reseller (VAR)
A value added reseller is a company that sells products and / or services that are repackaged for specific needs.
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