Payment Glossary

Consumer Account

An account held at a development financial institution (DFI) which has been opened by a natural person and is used for personal needs.

Related Terms

  • PPD (Prearranged Payment and Deposit)

    A credit or debit entry to the account of a receiver where there is either a standing or one time written authorization that has been signed or...

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  • VAR Sheet

    A VAR Sheet is a file containing information, such as merchant account information, bank account information, processor information, etc. This file is typically given to a payment...

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