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 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 library.
A computer-based funds transfer system established by NACHA to process the exchange of transactions between participating financial institutions in the USA, which uses batch processing and a store-and-forward system.
The U.K. version of the “ACH” 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.
Computing model in which storage and computing tasks are handled by networked machines rather than at the point of consumption.
A development practice that requires developers to integrate code into a shared repository several times a day. Each check-in is then verified
by an automated build, allowing teams to detect problems early. By integrating regularly, you can detect errors quickly, and locate them more
easily.
A document issued by the seller of goods or services to the buyer, reducing the amount that the buyer owes under the terms of an earlier invoice. The credit memo usually includes details of exactly why the amount stated on the memo has been issued (e.g. buyer returned the goods, there was a pricing dispute, goods were damaged upon delivery).
Compound of the terms “software development” and “information technology operations.” Refers to a set of practices that emphasize the collaboration and communication of both software developers and IT professionals while automating the process of software delivery and infrastructure changes. It aims to establish an environment where building, testing, and releasing software can happen rapidly, frequently, and more reliably.
An electronic funds transfer initiated by the payer.
Opposite of a bank transfer – a business pulls money out of a bank account with relevant permission of the other party.
