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… The financial institution that holds the account of the payor (person making a payment). … Payor's financial institution (FI) …
… A disruption to the payments ecosystem large enough to have a noticeable impact on GDP. … System-wide risk …
… An item dated more than six (6) months prior to presentment for payment. … …
… The end-user (person or organization) who receives funds when a payment item is credited to …
… Straight-Through-Processing – the process of transmitting and reconciling a payment in an automated fashion, such that no human intervention is required. … STP …
… A disruption to the payments ecosystem that has a material impact on ecosystem service providers or end users as a group. … …
… … Education Payments Canada takes pride in facilitating collaboration within the …
… Payments are exchanged, cleared and settled through a single … where they are routed and validated by a central institution … Centralized systems …
… The financial institution to which a debit payment item is … and which is directed to pay the specified amount of money. … Drawee …
… The end-user (person or organization) who authorizes their financial institution to …