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Contact-Free Payment
Contact-free payments are transactions processed in a manner that removes the physical interaction between the purchaser and the merchant. A contract-free payment can be accomplished through a...
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BOC (Back Office Conversion)
A BOC entry is a one time debit entry to the account of a receiver whom has, at the point of purchase, been notified that their check (source document) will be converted into a single entry ACH transaction.
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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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