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

  • Receiver

    Any company, organization or entity authorizing an originator to initiate an ACH credit or ACH debit transaction.

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  • Value Added Reseller (VAR)

    A value added reseller is a company that sells products and / or services that are repackaged for specific needs.

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