Electronic Payments Glossary

Electronic Payments Glossary

  • Corporate Trade Payments (CTX)

    This format was developed to make it possible for businesses to pay each other electronically, through the ACH system, and at the same time, pass needed information with the payment. This format is capable of carrying up to 9,999 addenda records with payment related information.

  • Electronic Bill Payment (E-pay)

    An alternative to paper checks for paying bills. Consumers can use PCs, telephones, screen phones or ATMs to send electronic instructions to their bank or bill payment provider to withdraw funds from their accounts and pay merchants. Payments may be made either electronically or by a paper check issued by the bill payment provider.