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

  • Mobile Payments

    Mobile payments allow for anytime, anywhere payments using a mobile phone, tablet, and more. Learn More

    Learn More

  • On-Us Entry

    Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.

    Learn More