Authorizations (Card Processing)

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

Related Terms

  • Effective Rate

    The effective rate shows the amount of volume a business pays in credit card processing fees to process a given amount. It is shown as a percentage,...

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  • OTS (Office of Thrift Supervision)

    The Office of Thrift Supervision, between 1989 and 2011, was a federal agency that regulated all savings banks (chartered and state-chartered), savings associations, and loans associations.

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