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POS
An SEC code is a three letter code that describes how a payment was authorized by the consumer or business receiving an ACH transaction. SEC stands for 'Standard Entry Class'. SEC codes are defined and maintained by NACHA, the governing body for the ACH network.
What is Standard Entry Class (SEC) Code POS?
SEC code POS stands for Point-of-Sale Entry. This SEC code is used in the context of Automated Clearing House (ACH) transactions, which are electronic payments or collections made through the ACH network. The transaction type for POS is a single entry ACH credit or ACH debit.
POS specifically relates to debit card transactions at point-of-sale terminals. POS is used for transactions where a debit card is used to make a purchase at a point-of-sale terminal, such as in retail stores, restaurants, or other physical locations.
These transactions can include purchases, refunds, or cash back when making a purchase.The consumer authorizes the transaction by using their debit card and typically entering a PIN or providing a signature.
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