An ________ is an arrangement where a bank receives customer payments and transmits payment data to the organization.

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An electronic lockbox is a service provided by banks that allows organizations to receive customer payments electronically. The bank receives the payment, deposits it into the organization's account, and sends payment data to the organization for reconciliation. This is different from e-commerce, which refers to buying and selling goods online, electronic fund transfer (EFT), which is the transfer of funds between bank accounts, or electronic data interchange (EDI), which is the electronic exchange of business documents between trading partners.

An ________ Is an Arrangement Where a Bank Receives Customer