PPD (Prearranged Payment and Deposit)

A credit or debit entry to the account of a receiver where there is either a standing or one time written authorization that has been signed or similarly authenticated.

Related Terms

  • ACH

    Automated Clearing House - ACH is a reliable electronic funds transfer (EFT) system governed by National Automated Clearing House Association (NACHA).

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  • Payment Gateway

    A payment gateway is an application service provider that authorizes credit card, debit card and electronic check payments for businesses. A payment gateway facilitates the transfer of...

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