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 into a single entry ACH transaction. The source document must be voided and returned to the receiver at the point of purchase.

Related Terms

  • DFI (Development Finance Institution)

    A development finance institution (DFI) is an alternative type of financial institution that provides credit via loans, equity and more.

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  • SHR (Shared Network Transaction)

    A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. The entry is initiated into a shared...

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