Finance
network
the rails between them
Source board
This definition comes from the board below. Open it to see the term in context.
The PipesFinanceMore terms from this board
- acquirerthe shop's bank
- authorisationthe issuer agrees to pay later, and holds the amount
- clearingworking out who owes whom
- double-entryevery movement written twice, out of one account and into another
- issuerthe cardholder's bank
- ledgerthe book of entries
- nettingpaying only the difference
- reconciliationchecking your book against theirs
- settlementthe money actually moves