Payment Glossary

ACH

Automated Clearing House – ACH is a reliable electronic funds transfer (EFT) system governed by National Automated Clearing House Association (NACHA).

Related Terms

  • Acquirer

    An acquirer is a bank that processes credit and debit card transactions for a merchant.

    Learn More
  • MICR (Magnetic Ink Character Recognition)

    The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number...

    Learn More