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Basis Points
Basis Points is a financial term that describes one one-hundreth of a percent (1 basis point = .0001 or .01%). Normally, the addition of basis points for...
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Auxiliary On-Us Field
A field on the magnetic ink character recognition (MICR) line of a check or share draft. This is an optional field that can be found to the left of the routing number. The presence of this field makes the check in-eligible to be used as a source document for accounts receivable conversion (ARC), back office conversion (BOC), and point-of-purchase (POP) entries.
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Payment Gateway
A payment gateway is an application service provider that authorizes credit card, debit card and electronic check payments for businesses. A payment gateway facilitates the transfer of...
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