what does process for payment mean?
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- Best Answer - Chosen by Voting. Process the payment is what the company / business does. The customer pays the amount. Then the company applies that payment to the account / invoice. Sometimes you see things like It will take three to five days to process your payment.. If you copy an answer from another italki page, please include the URL of the original page.
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- The process of purchasing these good and services is known as the Procure-To-Pay Cycle. The entire Procure-To-Pay Cycle can be an involved process with numerous steps: 1  Identification of Requirement. 2  Authorization of Purchase Request.3  Approval of Purchase Request. 4  Procurement. 5  Identification of Suppliers.he process of purchasing these good and services is known as the Procure-To-Pay Cycle. The entire Procure-To-Pay Cycle can be an involved process with numerous steps: 1  Identification of Requirement. 2  Authorization of Purchase Request.
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- “Payment Instruction” means the information provided by you to the Service for a bill payment to be made to a Biller (including name, account number, and Payment Date). “Payment Method” means the payment method you select and that is permitted by Paytm to make bill payments. Payment Methods include credit cards, debit cards and any other methods that Paytm may permit from time to time to fund a bill payment. The following are the terms and conditions that govern the Service.
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Payment service provider Payment service provider. A payment service provider (PSP) offers shops online services for accepting electronic payments by a variety of payment methods including credit card, bank-based payments such as direct debit, bank transfer, and real-time bank transfer based on online banking.
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Procure-to-pay Procure-to-pay systems are designed to provide organizations with control and visibility over the entire life-cycle of a transaction – from the way an item is ordered to the way that the final invoice is processed – providing full insight into cash-flow and financial commitments.
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Payment on Receipt Payment on Receipt enables the user to automatically create standard, unapproved invoices for payment of goods based on receipt transactions. Invoices are created using a combination of receipt and purchase order information, that eliminates duplicate manual data entry and ensures accurate and timely data processing. Payment on Receipt is also known as Evaluated Receipt Settlement (ERS) and Self Billing.
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"What Does ""Payment in Arrears"" Mean?" Credit Card Payments. Credit cards are a classic example of paying in arrears; you're purchasing goods or services, but not paying for them until the following months. Most credit card providers offer at least 25 days from the time of a purchase until the payment for that purchase is due.
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Payment system A payment system is any system used to settle financial transactions through the transfer of monetary value, and includes the institutions, instruments, people, rules, procedures, standards, and technologies that make such an exchange possible.hese include debit cards, credit cards, electronic funds transfers, direct credits, direct debits, internet banking and e-commerce payment systems. Some payment systems include credit mechanisms, but that is essentially a different aspect of payment.
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What Is an Average Payment Period? The average payment period is a measurement of how long a time it takes on average for a business to pay back its creditors. Calculating this requires dividing the amount of credit purchases by the 365 days in a year, and then dividing this amount into the total accounts payable for the year.he average payment period is determined by dividing the accounts payable by the average credit purchases per day. In this case, it would be $60,000 USD divided by $2,000 USD, which yields a quotient of 30.
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Goldâs Gym Corporate Office Full Definition of PAYMENT. 1. : the act of paying. 2. : something that is paid: pay. 3. : requital. See payment defined for English-language learners. See payment defined for kids.ADVERTISEMENT. Payment is due on the first of every month. 2  Prompt payment of your bill ensures that you will not have to pay any additional fees. 3  We require payment in advance for all goods purchased. 4  a payment plan to reduce your debt. 5  cash, credit cards, and other methods of payment.
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- You are here: Home › ACH Payment Definition. ACH payment definition is the moving of money electronically. Essentially there is a communication network that uses the Federal Reserve Banking system to transfer money to and from checking/savings accounts.The Automated Clearing House is the name given to system that accomplishes the transfers.CH payment definition is allowing the typical business to collect a recurring payment without waiting for the customer to mail a physical check.
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HowElectronicCheck Payment Processing Works The transaction will appear on the customer’s bank statement as a debit, not a check. The merchant uploads the captured check information to their payment provider for processing, and the proceeds are deposited into the merchant’s account within 1 to 2 business days. The process is similar for a check that is mailed in payment of a bill, except the check is retained by the merchant after it is voided.
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What the meaning of TT in terms of payment? A TT payment stands for telegraphic transfer or wire/swift transfer which is the cheapest and fastest. It is a legal way of remitting money overseas through any bank with Forex facility.
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STOP PAYMENT Dictionary entry overview: What does stop payment mean? • STOP PAYMENT (noun) The noun STOP PAYMENT has 1 sense: 1. a depositor's order to a bank to refuse payment on a check Familiarity information: STOP PAYMENT used as a noun is very rare.
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What is a Payment Service Provider? What does payment service provider mean? A third party that facilitates and helps merchants in the accepting of payments, also known as a PSP. In online shopping, the PSP will provide various methods of payment including direct debit, bank transfer, real-time… Continue reading What is a Payment Service Provider? What does payment service provider mean? A third party that facilitates and helps merchants in the accepting of payments, also known as a PSP. In online shopping, the PSP will provide various methods of payment including direct debit, bank transfer, real-time bank transfers using online banking, and credit card.
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What is a 'Payment' DEFINITION of 'Payment'. The transfer of one form of good, service or financial asset in exchange for another form of good, service or financial asset in proportions that have been previously agreed upon by all parties involved.Payment can be made in the form of funds, assets or services. Next Up.ayment can be made in the form of funds, assets or services.
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- (April 2015) A payment is the transfer of an item of value from one party (such as a person or company) to another in exchange for the provision of goods, services or both, or to fulfill a legal obligation. In law, the payer is the party making a payment while the payee is the party receiving the payment.
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- Definition of payment due date: The date when payment should be received by the company.
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Definitions &Translations Transaction processing is a style of computing that divides work into individual, indivisible operations, called transactions. A transaction processing system (TPS) or transaction server is a software system, or software/hardware combination, that supports transaction processing.
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What is 'Purchase-To-Pay' DEFINITION of 'Purchase-To-Pay'. An integrated system that fully automates the goods and services purchasing process for a business, beginning with requisitioning, through to actual procurement and ending with payment.
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Payment Barter, the exchange of one good or service for another, is a form of payment. The most common means of payment involve use of money, cheque, or debit, credit or bank transfers. Payments may also take complicated forms, such as stock issues or the transfer of anything of value or benefit to the parties.
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- The traditional procure-to-pay process is costly. 1  The transactional, or process cost, of using a traditional procure-to-pay process—often involving a requisition, purchase order, invoice and check payment—is the same regardless of the dollar amount of the purchase. 2  A P-Card program simplifies the process.
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- Common Payment Terms. Payment terms refers to the provisions the buyer and seller have agreed upon to get the goods paid for. Of course, payment terms and conditions must be negotiated up front and agreed upon by both parties.
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- on ‎26-02-2013 10:58 PM. It can also mean that the payment is pending due to the fact that you haven't confirmed your email address. You would have received an email telling you about the payment at the bottom of this email there is a link for you to confirm this is your email for PayPal.
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STOP PAYMENT The noun STOP PAYMENT has 1 sense: 1  1. a depositor's order to a bank to refuse payment on a check. 2  Meaning: 3  A depositor's order to a bank to refuse payment on a check. 4  Classified under: 5  Nouns denoting communicative processes and contents. 6  Hypernyms (stop payment is a kind of...): order; purchase order (a commercial document used to request someone to supply something in return for payment and providing specifications and quantities) Learn English with...
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How Much Does PayPal Charge To Process Credit Card Sales? How Much Does PayPal Charge To Process Credit Card Sales? PayPal is a full-service, internet merchant account service specifically designed to allow you to process credit card payments on-line. Like any merchant account, PayPal does charge a fee to the seller for this service.