Electronically-created payment orders
nouncandidate·updated May 9, 2026
These are payment orders received by merchants from consumers, typically by telephone or the Internet. These payment orders are processed through the check processing system although they were not initiated as paper checks. These payment orders are not subject to check law and are not warranted by the Federal Reserve Banks.
Framework senses
Federal Financial Institutions Examination Council (FFIEC) IT Examination Handbook Infobase, Glossary1 senseview framework →
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- These are payment orders received by merchants from consumers, typically by telephone or the Internet. These payment orders are processed through the check processing system although they were not initiated as paper checks. These payment orders are not subject to check law and are not warranted by the Federal Reserve Banks.