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

  • TCPA (Telephone Consumer Protection Act)

    The Telephone Consumer Protection Act limits the amount of telemarketing and overall use of automated phone calls. The act applies to automated phone calls (including pre-recorded messages),...

    Learn More

  • VAR Sheet

    A VAR Sheet is a file containing information, such as merchant account information, bank account information, processor information, etc. This file is typically given to a payment...

    Learn More