APRP Questions and Answers with Verified Solutions | Latest 2026
Update
Q: Prepaid/Stored Value Card
Answer:
A card-based payment system that assigns a value to the card;
some cards can be "reloaded"through various methods and the others are designed to
be
discarded.
Q: Credit card
Answer:
A card indicating the holder has been granted a line of credit to make purchases
or withdraw cash up to a prearranged ceiling.
Q: Debit card
Answer:
A payment card issued to a person for purchasing goods and services through an
electronic transfer of funds from a demand deposit account (DDA) rather than using
cash,
checks drafts at the point of sale.
,APRP Questions and Answers with Verified Solutions | Latest 2026
Update
Q: Credit entry
Answer:
An entry to the record of an account that represents the transfer or placement
of funds into the account.
Q: Debit entry
Answer:
An entry to the record of an account that represents the transfer or removal of
funds from the account.
Q: Electronically Created Item (ECI)
Answer:
A check that never appears in paper form.
,APRP Questions and Answers with Verified Solutions | Latest 2026
Update
Q: Remotely Created Check(RDC)
Answer:
Check created by a payee based on the account holder's
authorization that does not bear a signature.
Q: Remote Deposit Capture (RDC)
Answer:
Delivery system that enables paper checks to be processed
remotely.
Q: Pay Before
Answer:
Type of retail processing where a card payment is made for goods or services
with prepaid or stored-value cards,
, APRP Questions and Answers with Verified Solutions | Latest 2026
Update
Q: Pay Now
Answer:
Type of retail processing where a card payment is expected when the goods or
services are received; generally associated with debit payments(debit cards)
Q: Pay Later
Answer:
Type of retail processing where a card payment is expected after the goods or
services have been received; typically refers to credit payments(credit cards)
Q: SWIFT
Answer:
Global network messaging service supporting correspondent banking and financial
market utilities.
Update
Q: Prepaid/Stored Value Card
Answer:
A card-based payment system that assigns a value to the card;
some cards can be "reloaded"through various methods and the others are designed to
be
discarded.
Q: Credit card
Answer:
A card indicating the holder has been granted a line of credit to make purchases
or withdraw cash up to a prearranged ceiling.
Q: Debit card
Answer:
A payment card issued to a person for purchasing goods and services through an
electronic transfer of funds from a demand deposit account (DDA) rather than using
cash,
checks drafts at the point of sale.
,APRP Questions and Answers with Verified Solutions | Latest 2026
Update
Q: Credit entry
Answer:
An entry to the record of an account that represents the transfer or placement
of funds into the account.
Q: Debit entry
Answer:
An entry to the record of an account that represents the transfer or removal of
funds from the account.
Q: Electronically Created Item (ECI)
Answer:
A check that never appears in paper form.
,APRP Questions and Answers with Verified Solutions | Latest 2026
Update
Q: Remotely Created Check(RDC)
Answer:
Check created by a payee based on the account holder's
authorization that does not bear a signature.
Q: Remote Deposit Capture (RDC)
Answer:
Delivery system that enables paper checks to be processed
remotely.
Q: Pay Before
Answer:
Type of retail processing where a card payment is made for goods or services
with prepaid or stored-value cards,
, APRP Questions and Answers with Verified Solutions | Latest 2026
Update
Q: Pay Now
Answer:
Type of retail processing where a card payment is expected when the goods or
services are received; generally associated with debit payments(debit cards)
Q: Pay Later
Answer:
Type of retail processing where a card payment is expected after the goods or
services have been received; typically refers to credit payments(credit cards)
Q: SWIFT
Answer:
Global network messaging service supporting correspondent banking and financial
market utilities.
