Third party payment processors examples
Third-Party Payment Processors — Overview
Third-Party Payment Processors ___ If not already included in the BSA/AML policies, make available copies of any policies, procedures, and processes related to third-party payment processors. ___ A list of third-party payment processor relationships. Include the number and dollar volume of payments processed per relationship.
[DOCX File]LBA
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Examples of products and services that may be considered higher risk include: Electronic funds payment services — electronic cash (e.g., prepaid and payroll cards), funds transfers (domestic and international), payable upon proper identification (PUPID) transactions, third-party payment processors, remittance activity, automated clearing ...
[DOC File]REQUEST LETTER ITEMS - FFIEC BSA/AML
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One reason third-party relationships is such a hot regulatory topic/area is because financial institutions have increased the number and complexity of relationships with both domestic and foreign third parties. Examples of how financial institutions have used third-party vendors: ... Payment Processors: Risk Management Guidance (April 24, 2008) ...
[DOC File]Utah's Credit Unions
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A third-party disbursement system does the actual payment disbursement to the vendor. Depending on role, the Invoice Processor may perform a variety of actions on an invoice. These actions may include reviewing invoice details, reviewing and clearing exceptions, noting received invoices, and approving the invoice for payment.
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