Authorizations (Card Processing)

All transactions must be authorized via terminal, cash register, voice authorization, or automated voice response phone system (IVR).

Related Terms

  • EFT (Electronic Funds Transfer)

    The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

    Learn More

  • MICR (Magnetic Ink Character Recognition)

    The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number...

    Learn More