Originator has a number of meanings.
An originator can be a financial institution that initiates a wire transfer of funds to another account – i.e. the origin of the money transfer.
Originator is also the term used when referring to the clearing of Automated Clearing House Network (ACH) transactions, to describe the person or corporate institution that has received authorisation from a customer to refund or charge their bank account. As the ACH network is used, it will be an electronic transfer of funds. Here, the merchant is the originator.
In some instances, an originator can also refer to mortgage lending. The originator here is the institution or individual who works with borrower – the company or person needing the money – to complete a mortgage transaction.
Payment Processing Services by NOIRE
NOIRE provides industry leading online payment processing services & risk management technologies. Designed using NOIRE, “Simply Switch On”, approach to payment processing, our payment solutions are built using the latest payment processing technology enabling businesses to “Plug In” and “Switch On” payment modules with ease if and when required.
As a leading Payment Service Provider, you can trust NOIRE to find the right solution for your business. We provide everything in one simple agreement – your Internet Merchant Account, Payment Gateway and Payment Processing with all the leading cards issuers. Combined with NOIRE’s industry leading fraud & risk management solutions, merchants can be confident managing their payments safely and securely from beginning to end with NOIRE.
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