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

  • Acquirer

    An acquirer is a bank that processes credit and debit card transactions for a merchant.

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  • POP (Point-of-Purchase)

    A one time debit entry to the account of a receiver whom is notified, at the point of purchase, that their check (source document) will be converted...

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