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Third-party service provider

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Definition Edit

A third-party service provider is

[a] third party, other than the ODFI or RDFI, that performs any function on behalf of the ODFI or the RDFI related to ACH processing. These functions would include the creation and sending of ACH files or acting as a sending or receiving point on behalf of a participating depository financial institution.[1]

References Edit

  1. Information Society IT Examination Handbook, Retail Payment Systems, App. B, Glossary.

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