-
Cashless Payments
Cashless payments are digital methods for exchanging financial transactions between two parties. Using cashless payments provide an alternative to using traditional paper or coin currency. Cashless payments...
Learn More
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
-
ODFI (Originating Depository Financial Institution)
Financial institutions that originate ACH transactions on behalf of its customers. ODFI's must abide by the National Automated Clearing House Association (NACHA) Operating Rules.
Learn More