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BOC (Back Office Conversion)
A BOC entry is a one time debit entry to the account of a receiver whom has, at the point of purchase, been notified that their check...
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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 gateway, allowing for communication between the gateway and the merchant account provider.
Related Terms
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Discount Rate
Merchants are charged a fee for the processing services that enable them to accept cards as payment. This fee, called the "merchant discount” or "discount rate,” is...
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