Home 
Glossary
Glossary IPS Payments Glossary of Terms
P
- Payment System
- A communication system having the provisions to provide financial settlement information.
- PCI Certification
- The Payment Card Industry Data Security Standard (PCI DSS) Program is a mandated security initiative that was created to offer merchants and service providers a complete, unified approach to safeguarding credit cardholder information for all card brands. The collaboration between Visa and MasterCard on the PCI DSS have created common industry security requirements to which all merchants and service providers who handle credit card data MUST comply with.
- PPD (Pre-arranged Payment or Deposit)
- An automated consumer payment application, usually in the context of a standing obligation, which debits or credits the consumer's account at their financial institution to satisfy that obligation. Examples of PPD transactions are Direct Deposit of payroll, Direct Payment of charitable contributions and so forth.
- PPD+ (PPD PLUS)
- An automated consumer payment application, which carries additional information about the transaction in the single attached addenda record.
- Pre-notification (Pre-note)
- A preliminary, zero dollar item used to initiate an ACH transaction
Call IPS Toll Free Today 1-866-477-2432