Payment Glossary

IVR (Integrated Voice Response)

Integrated voice response or integrated voice recognition are payment systems that use the telephone to automate the capture of transactional information from a payer. Payers may either enter their payment information (routing number, account number, check number) via telephone keypad or read the payment information verbally. Learn more about IVR (Integrated Voice Response) here.

Related Terms

  • 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...

    Learn More
  • TEL (Telephone Initiated Entries)

    A standard entry class code that enables the originator to initiate a single entry debit to a consumer’s account pursuant to a consumer’s oral authorization obtained over...

    Learn More