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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...
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TEL (Telephone Initiated Entries)
A standard entry class code that enables the originator to initiate a single entry debit to a consumer’s account pursuant to a consumer’s oral authorization obtained over the telephone. This type of transaction may be used only in those instances where (1) there is an existing relationship between originator and consumer, or (2) in the absence of such relationship the consumer has been the party to initiate the call.
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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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