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POP (Point-of-Purchase)
A one time debit entry to the account of a receiver whom is notified, at the point of purchase, that their check (source document) will be converted...
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ODFI (Originating Depository Financial Institution)
Financial institutions that originate ACH transactions on behalf of its customers. ODFI’s must abide by the National Automated Clearing House Association (NACHA) Operating Rules.
Related Terms
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TLS (Transport Layer Security)
TLS refers to a cryptographic protocol to secure information sent over a computer data network. Connections using TLS typically have multiple authentication methods in place to secure...
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