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Lockbox
Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the...
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Acquirer
An acquirer is a bank that processes credit and debit card transactions for a merchant.
Related Terms
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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...
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