Merchant Services Glossary - Letter O

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Oars

FDR system-Gives deposit detail before 6-13-96.

Off-line

An operating mode in which terminals are not connected to a central computer. Responses are governed by guidelines, set by the issuer, which are housed in the terminal or in a supporting device.

Off Line Debit Cards

Also known as Check Cards. Form of payment not utilizing a PIN in order to disburse funds from a cardholders checking account. These cards display the Visa or Mastercard logo and are processed through Interchange. Visa or Mastercards that post to a checking account rather than to a revolving account.

Off Line Sale

Function performed at a POS device that allows the merchant to enter a transaction if unable to process under the regular sale key. Also referred to as an Force and Post Auth.

On-line

An operating mode in which terminals are connected to a central computer and have access to the data base for authorization, questions and file changes.

On-Line Debit Cards

Also known as ATM cards. Form of payment utilizing a PIN in order to disburse funds from a checking account.

Open-to-buy

The unused credit available on a credit card.

Optima True Grace

A type of credit card issued by American Express that allows the balance to be carried over from month-to-month with an interest charge.

Original draft

The actual member copy of the formset used in the transaction.

Over the Counter

Indicates merchants that submit actual sales drafts for payment (paper merchant) to a local bank for payment.

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