Payment Glossary

WEB (Internet Initiated Entries)

A standard entry class code that enables an originator to debit a consumer’s account pursuant to an authorization obtained from the receiver via the internet.

Related Terms

  • FDCPA (Fair Debt Collection Practices Act)

    Approved in 1977, the Fair Debt Collection Practices Act allows for legal consumer protection against abusive debt collection practices.

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  • MTE (Machine Transfer Entry)

    An entry initiated at an electronic terminal, such as an automated teller machine (ATM). This entry can either be a debit or a credit.

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