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HIPPA (Health Insurance Portability and Accountability Act)
The Health Insurance Portability and Accountability Act attempts to fight again abuse, fraud and waste within health insurance and general health care delivery.
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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 negotiated with each merchant during the sales process. The discount rate is usually a percentage of the merchant’s sales volume.
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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...
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