Accredited ACH Professional (AAP) Exam 2025 – 400 Free Practice Questions to Pass the Exam

The term that describes a method used to share transaction data securely between trading partners is Financial EDI. EDI, or Electronic Data Interchange, facilitates the exchange of business documents in a standardized electronic format, which enhances efficiency and accuracy in transactions. Financial EDI specifically deals with the transfer of financial transaction data, ensuring that the information is transmitted securely and reliably between businesses, which is crucial for maintaining confidentiality and integrity in financial dealings.

The other options, while related to financial transactions, do not specifically focus on the secure sharing of transaction data between trading partners in the same comprehensive manner. Electronic Check Processing relates to the handling of checks electronically but does not encapsulate broader transaction data sharing. Social Fund Transfers are typically informal and not standard business methods. Online Banking primarily refers to banking services available through the internet, which does not inherently cover the secure transfer of transaction data between distinct trading partners. Thus, Financial EDI is the most accurate term for this context.