Used to complete most kinds of transactions in public sales locations like stores, gas stations and restaurants, a POS [...]
Payments Processing
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 [...]
Payment Environment
The payment environment is the collective term for all the manual and automatic processes involved in completing a paym [...]
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 [...]
Dunning Management
Part of a recurring billing solution’s ability to manage credit card payment declines, dunning management services ma [...]
Deposit Account
Any sort of account where a customer makes deposits and withdrawals is classified as a deposit account, including check [...]
Clearinghouse
Clearinghouse Generally defined as an organization or agency that collects and distributes information, in the payment [...]
Business Day
Loosely defined as the time when a banking institution is open, it is more precisely used to specify a day during which [...]
Authorization Currency
The authorization currency is the native currency of a transaction and is directly related to the currency in use at th [...]
ACH Return
When an ACH transactions does not complete correctly, an ACH return with an associated return code results. These codes [...]
Authorization
The process of checking the availability of funds to complete a credit card sale, an authorization is expected to resul [...]
Virtual account number
Designed to make theft of an account number nearly impossible, a virtual account number is a temporary account number u [...]