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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...
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ARC (Accounts Receivable Entry)
An ARC entry is a one time debit entry to the account of a receiver whom has previously been notified that their check (source document) will be converted into a single entry ACH transaction. The receiver must provide the source document to the originator via a drop box location or through the U.S. mail.
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OCR (Optical Character Recognition)
A technology that enables you to convert different types of documents into editable and searchable data.
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