Glossary

Industry Server

A computer which is used for facilitating and handling financial information, including transactions. Private and public servers handle several distinct sets of tasks and have several components. A transaction processor assembles information in an efficient format for processing, or in some cases, the transaction processor actually handles the transaction processes themselves. Transaction processors handle bill payments and other types of financial transactions. A gateway or switch is another aspect of an industry server that connects consumers and their financial institutions. The settlement facilitator allows for communication between banks and other financial institutions for the purpose of settling transactions. ACH operates through the settlement facilitators of industry servers.