Payment Glossary

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 merchant issued plastic card.

Related Terms

  • FCRA (Fair Credit Reporting Act)

    The Fair Credit Reporting Act protects consumers from inaccurate information that may be found within credit reports.

    Learn More
  • Regulation E (Reg-E)

    Regulation E details procedures for the processing of electronic funds transfers (EFTs) in addition to debit cards.

    Learn More