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

  • PPD (Prearranged Payment and Deposit)

    A credit or debit entry to the account of a receiver where there is either a standing or one time written authorization that has been signed or...

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  • Value Added Reseller (VAR)

    A value added reseller is a company that sells products and / or services that are repackaged for specific needs.

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