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

  • E-Check (or echeck)

    E-Check payments are ACH payments that originate via the internet, telephone, point-of-sale (POS), or bill payment sent through the mail or unattended lockbox. For mail and lockbox...

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  • NPR (Notice of Proposed Rulemaking)

    A Notice of Proposed Rulemaking is a notice that is publicly issued when any independent agency decides to change, remove or add a rule.

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