By using batch processing and a store-and-forward system, the ACH Network is at the center of commerce in the USA, moving money and information from one bank account to another through Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit transactions; recurring and one-time payments; government, consumer and business-to-business transactions; international payments; payments plus payment-related information.
A set of clearly defined methods of communication (via subroutine definitions, protocols, and tools) between various software components. A good API makes it easier to develop a computer program by providing all the building blocks, which are then put together by the programmer. Could be for a web-based system, operating system, database system, computer hardware or software library.
A set of subroutine definitions, protocols, and tools for building application software. In general terms, it is a set of clearly defined methods of communication between various software components. A good API makes it easier to develop a computer program by providing all the building blocks, which are then put together by the programmer. An API may be for a web-based system, operating system, database system, computer hardware or software ware library.
A computer-based funds transfer system established by NACHA to process the exchange of transactions between participating financial institutions in the U.S.; uses batch processing and a store-and-forward system.
“UK ACH” payment system
“ACH for U.K.” payment system.
The practice of a merchant processing all of its authorized credit card transactions for the day after the close of business or at a time determined by the credit card processor; the merchant’s second step toward getting paid for its customers’ credit card transactions.
A type of distributed ledger comprised of unchangeable, digitally recorded data in packages called blocks. These “blocks” of data are stored in a linear chain. The blocks of cryptographically hashed data draw upon the previous block in the chain, ensuring all data in the overall “blockchain” has not been tampered with.
A type of distributed ledger, comprised of unchangable, digitally recorded data in packages called blocks. These “blocks” of data is stored in a linear chain. Each block in the chain contains data (e.g. bitcoin transaction), is cryptographically hashed. The blocks of hashed data draw upon the previous-block (which came before it) in the chain, ensuring all data in the overall “blockchain” has not been tampered with and remains unchanged.
Computing model in which storage and computing tasks are handled by networked machines rather than at the point of consumption.
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