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… around the world, the United Kingdom is in the midst of modernizing their national payments infrastructure. In the next three to four years, the country expects to replace two of their major payments systems, amongst other changes. For a deeper dive …
… Bill payments to businesses that include data related to that … Number (CCIN) for credit to a corporation. Includes bill payments initiated via telephone and Internet banking and may include some paper-based bill payment remittances converted to EDI format by financial …
… Pre-authorized or bill payment error correction debits to an account held at a … institution. Most commonly used for mortgage and other bill payments, as well as funds transfer and corporate cash management payments. Often recurring, but can also be sporadic. Does not include …
… A three digit number, assigned by Payments Canada, which can be used on payment items to identify a member financial institution or other institution listed in Appendix I of Rule D4. … Institution number …
… A pre-authorized debit drawn on the account of a payor for the payment of goods or services related to a business or commercial activity of the payor. For example, payments between franchisees and franchisers, distributors …
… The financial Institution that holds the account of the payee (person receiving a payment). … Payee's financial institution (FI) …
… The financial institution that holds the account of the payor (person making a payment). … Payor's financial institution (FI) …