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2. Automated clearing house - Wikipedia

   en.wikipedia.org/wiki/Automated_Clearing_House

   ACH credit transfers are initiated by the payer and include payments such as: direct deposits, payrolls, retail payments and vendor payments. [5] ACH direct debit collections are initiated by the payee with pre-authorization from the payer; ACH direct debits include consumer payments such as utility bills, insurance premiums, mortgage loans ...

3. ACH Network - Wikipedia

   en.wikipedia.org/wiki/ACH_Network

   In the United States, the ACH Network is the national automated clearing house (ACH) for electronic funds transfers established in the 1960s and 1970s. It is a financial utility owned by US banks, and is one of the largest payments networks in the United States, both by volume and by customer reach; virtually every bank account in the US, whether personal or commercial, is connected to the ...

4. BAI (file format) - Wikipedia

   en.wikipedia.org/wiki/BAI_(file_format)

   BAI, or the BAI file format, is a file format for performing electronic cash management balance reporting. The BAI format was developed and previously maintained by the Bank Administration Institute (BAI). [ 1 ]

5. Electronic funds transfer - Wikipedia

   en.wikipedia.org/wiki/Electronic_funds_transfer

   Not all EFT payments are processed through the ACH network, but all ACH payments are EFTs; Automated teller machine (ATM) transfers; Direct deposit payment or withdrawals of funds initiated by the payer; Direct debit payments in which a business debits the consumer's bank accounts for payment for goods or services

6. Payment system - Wikipedia

   en.wikipedia.org/wiki/Payment_system

   The term electronic payment refers to a payment made from one bank account to another using electronic methods and forgoing the direct intervention of bank employees. Narrowly defined electronic payment refers to e-commerce —a payment for buying and selling goods or services offered through the Internet, or broadly to any type of electronic ...

7. Payment processor - Wikipedia

   en.wikipedia.org/wiki/Payment_processor

   ACH became the primary method of electronic funds transfer [9] for agencies, businesses, and individuals to pay or collect money online, and is still commonly used today. Over the following decades, the evolution of payment technology accelerated. The first digital currency is attributed to an algorithm developed by David Chaum in 1983.