TPPP vs Third-Party Sender

Posted By: Madawaska

TPPP vs Third-Party Sender - 09/08/14 07:52 PM

Hi, can someone clarify for me exactly the difference, if there is any, between defining a customer as a 'Third Party Payment Processor' and a 'Third Party Sender'.

Is a 'Third Party Sender' still considered a 'TPPP'?

Posted By: Sunshine Lady

Re: TPPP vs Third-Party Sender - 09/11/14 04:40 PM

Third-party processor such as PayPal lets you accept online payments without a merchant account of your own. Instead, they let you use their merchant account under their own terms of services

THIRD-PARTY SENDER A third-party service provider is considered to be a third-party sender when there exists an agreement with an ODFI or another third-party sender to originate transactions and also has an agreement with an originator to initiate transactions into the ACH Network on their behalf. In this situation, there is no agreement between the originator and the ODFI. A third-party sender is a subset of the third-party service, usually with very little setup required.

Hope this helps.
Posted By: Calmeida12

Re: TPPP vs Third-Party Sender - 09/15/14 02:06 PM

Does anyone have keywords to search for these types of entities? Thank you.
Posted By: WonderWoman

Re: TPPP vs Third-Party Sender - 09/18/14 12:59 PM

We had a consultant tell us that all of our property management accounts for HOAs are considered Third Party Senders.
Posted By: CantBeShocked

Re: TPPP vs Third-Party Sender - 09/18/14 04:02 PM

I would disagree with the consultant - IF the HOAs are not procesing payments via ACH. If all check, no third party sender.
Posted By: CBAP

Re: TPPP vs Third-Party Sender - 09/18/14 05:11 PM

So, this would mean that a TPPP is NOT the same things as a Third Party Sender?