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

  • FTC (Federal Trade Commission)

    The Federal Trade Commission is an independent agency that advocates for consumer protection and the prevention anti-competitive business practices.

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  • Merchant

    A merchant is business that exchanges goods for monetary funds.

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