POS (Point-of-Sale)

A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. POS transactions are generally initiated with a merchant issued plastic card.

Related Terms

  • ACH Credit

    An ACH credit occurs when the receiver’s account is credited.

    Learn More

  • SSL (Secure Sockets Layer)

    SSL, proceeded by TLS, is a security protocol that encrypts data and enabled authentication between applications over a network.

    Learn More