Payments Processing

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POS System

Used to complete most kinds of transactions in public sales locations like stores, gas stations and restaurants, a POS [...]

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Point of Sale (POS)

Very simply the place where goods are retailed, the point of sale is where the world’s in-person credit card and othe [...]

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Payment Environment

The payment environment is the collective term for all the manual and automatic processes involved in completing a paym [...]

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Force Transaction/Voice Authorizations

Also called a post auth or prior sale transaction, a force transaction is one for which the merchant gets a voice autho [...]

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Dunning Management

Part of a recurring billing solution’s ability to manage credit card payment declines, dunning management services ma [...]

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Deposit Account

Any sort of account where a customer makes deposits and withdrawals is classified as a deposit account, including check [...]

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Clearinghouse

Clearinghouse Generally defined as an organization or agency that collects and distributes information, in the payment [...]

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Business Day

Loosely defined as the time when a banking institution is open, it is more precisely used to specify a day during which [...]

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Authorization Currency

The authorization currency is the native currency of a transaction and is directly related to the currency in use at th [...]

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ACH Return

When an ACH transactions does not complete correctly, an ACH return with an associated return code results. These codes [...]

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Authorization

The process of checking the availability of funds to complete a credit card sale, an authorization is expected to resul [...]

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Virtual account number

Designed to make theft of an account number nearly impossible, a virtual account number is a temporary account number u [...]




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