Welcome to Learn, where we break down the complicated pieces of the payment industry into straightforward, easy-to-understand definitions so you can make the best possible decisions about your business’ payment operations.
ACH (Automated Clearing House) is a payment processing network that’s used to send money electronically between banks in the United States.
RTP (Real-Time Payments) is a payment processing network used to send money electronically between banks in the United States.
A wire transfer is an electronic payment made through a global network, allowing for fast, irreversible, foreign or domestic electronic money transfers.
Bulk Electronic Clearing System (BECS)
The Bulk Electronic Clearing System (BECS) is a streamlined electronic payment method used to process low-value, bulk transactions in Australia and New Zealand.
Single Euro Payments Area (SEPA)
The Single Euro Payments Area (SEPA) is a system of payment schemas that standardizes cashless transactions in euros.
Bankers' Automated Clearing System
Originally known as Bankers’ Automated Clearing System (BACS), BACS Payment Schemes Limited clears and settles direct debit, BACS direct credit, and current account switch service in the United Kingdom.
Organizations and Standards
These are the broader payment concepts that underpin payment operations.
Economics is the production, distribution, and consumption of goods and services.