Payment System Participants

Question 1

Equivalent to ach receiver in checks, redirect, cards, RTP and fednow

Answer 1

Payor; beneficiary;card holder; receiver; receiver

Question 2

Equivalent to ach oiriginator in checks, redirect, cards, RTP and fednow

Answer 2

Payee; originator; merchant; sender; sender

Question 3

Equivalent to ach ODFI in checks, redirect, cards, RTP and fednow

Answer 3

Bank of first deposit; originators depository institution; acquirer; sending participant; sender financial institution

Question 4

Equivalent to ach operator in checks, redirect, cards, RTP and fednow

Answer 4

Correspondent bank (bankers bank/clearing house); FRB; atm payment network; TCH; FRB

Question 5

Equivalent to ach RDFI in checks, redirect, cards, RTP and fednow

Answer 5

Paying bank; beneficiarys depository institution; card issuer; receiving participant; receivers financial institution