WEB (Internet Initiated Entries)

A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.

Related Terms

  • Consumer Account

    An account held at a development financial institution (DFI) which has been opened by a natural person and is used for personal needs.

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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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