What does CIE stand for in the context of electronic transactions?

In the context of electronic transactions, CIE stands for Customer-Initiated Entry. This term refers to a type of payment transaction that is initiated by a customer, typically for the purpose of making a payment to a business or organization. This form of entry is part of the Automated Clearing House (ACH) network, where customers authorize electronic payments directly, which helps streamline transactions and improve efficiency in processing payments.

Customer-Initiated Entry plays a significant role in ensuring that businesses receive payments quickly and securely, as it allows for direct communication and authorization from the customer. This contrasts with other transaction types where the initiation may not directly involve the customer, ensuring clarity and security in the payment process.