Electronic Payments Network (EPN)

Electronic Payments Network (EPN),

Definition of Electronic Payments Network (EPN):

  1. A type of financial clearing house that operates electronically and is used by private sector individuals in handling various types of electronic transfers of funds such as dividends or wage payments to a companys employees.

  2. The Electronic Payments Network (EPN) a financial clearing house for the private sector that handles various types of electronic funds transfers, either among accounts at the same bank or to different accounts at separate financial institutions. The EPN is an automated clearing house (ACH) that may process credit transfers, such as payroll payments, social security benefits, tax refunds, and dividends; as well as debit transfers, such as loan payments, utility bills, and insurance premiums.

  3. Unlike its competitor, Nacha, which is a non-profit organization that sets standards for ACH networks, EPN is a privately-owned network administered by the The Clearing House Payments Company.

How to use Electronic Payments Network (EPN) in a sentence?

  1. The Electronic Payments Network (EPN) is a payments network that handles around half the U.S. commercial ACH volume, clearing and settling nearly $2 trillion in U.S. dollar payments each day.
  2. An ACH Network is an electronic system serving financial institutions to facilitate financial transactions and customer payments.
  3. The EPN is run by the Clearing House Payments Company, and is the only private-sector ACH and wire operator in the United States.

Meaning of Electronic Payments Network (EPN) & Electronic Payments Network (EPN) Definition

Electronic Payments Network (EPN),

Electronic Payments Network (EPN) Meanings:

The term Electronic Payment Network (EPN) refers to a financial clearing house that manages various electronic money transfers to the private sector. It is one of the largest automated clearing houses in the United States with a reserve bank. Money is transferred between the accounts of the same financial institution or different financial institutions using EPN. Examples of EPN transfers include salaries, social security benefits and tax returns, and direct debit exchanges such as debt payments and insurance premiums.

  • Electronic Payments Network is a financial settlement company that manages electronic money transfers to the private sector.
  • The network allows large-scale credit and debit transactions, such as payroll deposits and debt repayments.
  • It is used to process recurring payments and one-time transfers.

Literal Meanings of Electronic Payments Network (EPN)

Electronic:

Meanings of Electronic:
  1. (Devices) that work or operate with many small components, including microchips and transistors that control and conduct electrical current.

  2. (Music) is made by electronic devices.

  3. Talking about electronics.

  4. In relation to electrons.

  5. Developed or accessible by computer or other electronic device, especially on a network

Sentences of Electronic
  1. You will also learn how moisture affects the surface of silicone, which is used to make microchips and other electronic devices.

  2. In modern electronic devices, silicon transistors are associated with capabilities whose values ​​are zero and represented throughout the system.

  3. Modern commercial aircraft are equipped with electronic devices that control the aircraft and control navigation and communications.

  4. Inorganic chemistry is used to make various components of electronic components such as transistors, diodes, computer chips and metals.

  5. Smart homes with all kinds of devices controlled from a single type of electronic device to home appliances have been a household dream for decades.

  6. Electronic brake controls are manufactured here in a variety of configurations and voltages.

  7. Electronic engine control tests are also planned after the delivery of the first unit.

  8. Since each bicycle is controlled by an electronic lock, anyone wishing to rent a bicycle can unlock it by calling the telephone line and providing the location of the bicycle after use.

  9. A guard has locked prisoners for centuries with keys, which is no longer the case and both cell blocks have electronic fingerprint locks and cannot be unlocked.

Synonyms of Electronic

mechanical, automated, electronic, push-button, unmanned, computerized, robotic, preprogrammed

Network:

Meanings of Network:
  1. Connecting horizontal and vertical lines.

  2. A group of people or a system or interrelated things.

  3. A complex system of roads, railways or other means of transportation.

  4. A group of people who share information, contacts and experiences for professional or social purposes.

  5. A group of channels that come together to broadcast a program.

  6. Many computers, machines or processes are interconnected.

  7. Connected electrical conductive system.

  8. Log in or use the network.

  9. Link to interactive work (computer or other machine).

  10. Communicate with others to share information and promote professional or social connections.

Sentences of Network
  1. From the scene in front of him, he created a web of thick lines that painted each other, interspersed with colors as if behind a trail.

  2. It is a network of glowing lines floating triangular in a crystal cube.

  3. Smiling is a dangerous business, it leaves fine lines around the nose and mouth, but you think you can risk it, after all it's a special day.

  4. The York City Council said the network of irregular lines on the asphalt was apparently caused by a van driving on a new bridge Sunday night.

  5. Another important function of the liver is the so-called phagocytic mucus cells, which are found in the network of blood vessels.

  6. The black layer of wax is shaved to the right and left to form an intricate network of square lines, revealing a blue-green coat.

  7. The crown is velvet and the base is light gray in a web of white stripes.

  8. The design consists of three loosely defined rectangles, each filled with rows of angled lines covered with deep red dots.

  9. When all pairs of points are connected, the resulting network of points and lines is called a complete graph.

  10. With black printing, the surface is completely marked with a dense network of lines.

Synonyms of Network

mesh, matrix, warren, tangle, jungle, webbing, trellis, web, labyrinth, net, criss-cross, lattice, complex arrangement, complex, tracery, grid, interconnected system, complex system, nexus, interconnected structure