A
API
Application Programmers Interface. An API allows programmers to integrate a service directly into their applications or websites. See also SOAP.
ADDACS
Automated Direct Debit Amendment and Cancellation Service
AUDDIS
Automated Direct Debit Instruction Service
B
BACS
Bankers Automated Clearing Service. Bacs is a not for progit organisation owned by the leading banks and building societies in the UK. Bacs is responsible for the schemes behind the clearing and settlement of automated electronic payments in teh UK
C
CHAPS
Clearing House Automated Payment System
D
DDAN
Direct Debit Advance Notice. When a direct debit is set up or changed the originator must give the payer an advance notice of the change. Bacs stipulate the amount of notice required.
Advance notice letters may be by email as well as post.
DDI
See Direct Debit Instruction.
DDICA
Direct Debit Indemnity Claim Automation.
Direct Credit
A Bacs Direct Credit is an electronic payment made through Bacs directly into the recipient's bank or building society account.
Direct Debit
A Bacs Direct Debit is an electronic payment made through Bacs directly into the recipients bank or building society account. Most people in the UK
pay their regular bills by Direct Debit.
Direct Debit Instruction
An authorisation to take payments from a bank or building society account.
I
ISCD
Industry Sort Code Directory is a database of all the UK sortcodes containing information such as address, the modulus checking rules and whether a bank can accept direct debits or credits.
M
Mandate
Mosaic's software for the complete management of Direct Debits.
Modulus Checking
A Modulus Check is an arithmetic computation performed on an account number based on the rules produced by each bank. It is used to validate the sort code and account number combination in products like BankCheck, Bacsom and Mandate.
P
Paperless Direct Debit
Paperless Direct Debit allows an organisation to accept direct debit instructions over the telephone or on the internet. The payer does not need to
sign a direct debit mandate. This speeds up the process of accepting instructions.
PAF
Postal Address File maintained and distributed by the Royal Mail. It contains all 28 million addresses in the UK. The PAF database is used by our postcode lookup software PostcodeIT.
PKI
Public Key Infrastructure. A set of policies and procedures for the creation management and distribution of digital certificates.
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S
SEPA
(Single Euro Payment Area)
Single European Payment Area. Allows businesses to move currency throughout the EU as easily domestic payments.
SOAP
Simple Object Access Protocol, is a protocol specification for exchanging information in the implementation of Web services.
Standing Order
A Standing Order is an instruction to a bank to pay a regular amount to a recipient's bank or building society account. Only the bank account holder can amend the instruction.
SUN
Service User Number