POP ~ Point-of-Purchase

This SEC Code is used as an ACH debit application by Originators as a method of payment for the in-person purchase of goods or services by consumers. These non-recurring debit entries are initiated by the Originator based on a written authorization and account information drawn from the source document (a check) obtained from the consumer at the point-of-purchase. The source document, which is voided by the merchant and returned to the consumer at the point-of-purchase, is used to collect the consumer's routing number, account number, and check serial number that will be sued to generate the debit entry to the consumer's account. This SEC Code enables ACH participants to readily identify point-of-purchase entries. For more detailed information click here.