Passive Enrollment

Passive enrollment is a policy that automatically enrolls individuals in a program (such as a retirement savings plan or health insurance) unless they actively choose to opt out. It is designed to increase participation rates by leveraging inertia and reducing the effort required to join.

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What Does Void Payment Mean

A void payment is a transaction that is canceled before it is fully processed and settled, meaning funds are never actually transferred from the customer to the merchant. This differs from a refund, which occurs after settlement. Voiding is typically used to correct errors, cancel orders, or release pending authorizations.

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