No, not that kind of POS! A Point of Sale Terminal or POS is the hardware used to process credit card or check transactions in

Pinpads are small boxes with a 10-key pad on them. Connected to a processing terminal, they are used by cardholders to enter PIN numbers for

A discount rate that is billed in addition to the “Qualified” discount rate, usually for one of these reasons: (A) a retail merchant passing a

The Electronic Payments Association, formerly the National Automated Clearing House Association. This association controls the regulations governing over 1000 check processing institutions, including eCheck and

The maximum monthly dollar volume a merchant is approved to process in Visa and MasterCard transactions. The monthly volume is important for underwriter consideration of

A fee for the statement of processing activity and charges mailed by the bank after the last day of each month the account is active.

The minimum amount of discount fees charged by a processing bank in a given month. If account activity does not generate the monthly minimum, the

A discount rate that is billed in addition to the “Qualified” discount rate, usually for these reasons: (A) with a “retail” merchant account, where the

Member Alert To Control High Risk Merchants or MATCH for short is an electronic bulletin board used to track people and businesses whose merchant processing

A transaction is “keyed” when the information from a credit card is manually typed into a terminal or computer. Keyed transactions pay higher rates than