Authorizations (Card Processing)

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

Related Terms

  • Existing Relationship

    There is an existing relationship between an originator and a receiver when there is either a written agreement in place or when the receiver has purchased goods...

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  • Lockbox

    Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the...

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