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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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Merchant
A merchant is business that exchanges goods for monetary funds.
Related Terms
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RDFI (Receiving Depository Financial Institutions)
A financial institution qualified by the National Automated Clearing House Association (NACHA) to receive ACH transactions.
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