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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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Interchange
Interchange is a small fee paid by a merchant’s bank (acquirer) to a cardholder’s bank (issuer) to compensate the issuer for the value and benefits that merchants receive when they accept electronic payments.
Related Terms
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Settlement Date
The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.
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