An acquirer is a bank that processes credit and debit card transactions for a merchant.Learn More
TEL (Telephone Initiated Entries)
A standard entry class code that enables the originator to initiate a single entry debit to a consumer’s account pursuant to a consumer’s oral authorization obtained over the telephone. This type of transaction may be used only in those instances where (1) there is an existing relationship between originator and consumer, or (2) in the absence of such relationship the consumer has been the party to initiate the call.
A day on which the development financial institution (DFI) is open to the public and performing a majority of their banking functions, or, in the case of...Learn More