Authorizations (Card Processing)

All transactions must be authorized via terminal, cash register, voice authorization, or automated voice response phone system (IVR).

Related Terms

  • Interchange

    Interchange is a small fee paid by a merchant's bank (acquirer) to a cardholder's bank (issuer) to compensate the issuer for the value and benefits that merchants...

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  • MTE (Machine Transfer Entry)

    An entry initiated at an electronic terminal, such as an automated teller machine (ATM). This entry can either be a debit or a credit.

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