Payments accompanied by a paper remittance (bill stub), MICR-encoded with a CCIN, for credit to a business, generally initiated via an ABM or branch of a financial institution.
The end-user (person or organization) who receives funds when a payment item is credited to their account
The financial Institution that holds the account of the payee (person receiving a payment).
A business, association, government or other entity which, with authorization from a payee or payor, initiates an AFT transaction.
A person or an entity that provides services directly to end users such as consumers and businesses/corporates, banks or other entities to support exchange, clearing and settlement services
An entity responsible for managing and operating a payment system
The transfer of value from a payor to a payee through the intermediary of a financial institutions. Payments can be debit transfers or credit transfers authorized by the payor
All payment structures within a country.
The technology, rules, standards and procedures that underpin the transfer of monetary value between parties. The LVTS and ACSS are payments infrastructures owned and operated by Payments Canada and therefore governed by its by-laws, rules and/or standards.
The networks, processes, arrangements, rules, standards, protocols, conventions, and technologies that facilitate the transfer of monetary value.
All payment structures that facilitate the transfer of monetary value between banks.
The end-user (person or organization) who authorizes their financial institution to debit their account for the amount of a payment item