Authorizations (Card Processing)

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

Related Terms

  • Merchant Account

    An account opened through a payment processor or financial institution that allows payees to accept credit card payments from a payer.

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  • On-Us Entry

    Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.

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