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… Bill payments to businesses that include data related to that business' … Number (CCIN) for credit to a corporation. Includes bill payments initiated via telephone and Internet banking and … Electronic (EDI) remittances …
… 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 … Business pre-authorized debit …
… 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) …
… The failure of the payments ecosystem to ultimately settle on the books of the central bank. … Systemic risk …
… An item dated more than six (6) months prior to presentment for payment. … Stale-dated …
… A disruption to the payments ecosystem large enough to have a noticeable impact on GDP. … System-wide risk …