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

  • Issuer

    An issuer is the organization that issues a credit or debit card.

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  • Interchange

    Interchange is a small fee paid by a merchant's bank (acquirer) to a cardholder's bank (issuer) to compensate the issuer for the value and benefits that merchants...

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