Payment Glossary

Existing Relationship

There is an existing relationship between an originator and a receiver when there is either a written agreement in place or when the receiver has purchased goods or services from the receiver within the past two year.

Related Terms

  • ACH Debit

    An ACH debit occurs when the receiver’s account is debited.

    Learn More
  • Value Added Reseller (VAR)

    A value added reseller is a company that sells products and / or services that are repackaged for specific needs.

    Learn More