Payment Glossary

POP (Point-of-Purchase)

A one time debit entry to the account of a receiver whom is notified, at the point of purchase, that their check (source document) will be converted into a single entry ACH transaction. The source document must be voided and returned to the receiver at the point of purchase.

Related Terms

  • On-Us Entry

    Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.

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  • Receiver

    For check processing, the receiver is the person or business that a check is written to.

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