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Auxiliary On-Us Field
A field on the magnetic ink character recognition (MICR) line of a check or share draft. This is an optional field that can be found to the...
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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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Regulation E (Reg-E)
Regulation E details procedures for the processing of electronic funds transfers (EFTs) in addition to debit cards.
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