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POP (Point-of-Purchase)
A one time debit entry to the account of a receiver whom is notified, at the point of purchase, that their check (source document) will be converted...
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Discount Rate
Merchants are charged a fee for the processing services that enable them to accept cards as payment. This fee, called the “merchant discount” or “discount rate,” is negotiated with each merchant during the sales process. The discount rate is usually a percentage of the merchant’s sales volume.
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RCK (Re-presented Check)
An additional presentment of an eligible returned paper check through the ACH network.
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