Payment Glossary

Authorizations (Card Processing)

All transactions must be authorized via terminal, cash register, voice authorization, or automated voice response phone system (IVR).

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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  • 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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