This resource provides an overview of the Point-of-Purchase (POP) standard entry class (SEC) code, including a process flow chart.
POP is the SEC code that gives consumers and businesses the ability to convert paper checks into electronic payments at the point-of-purchase (e.g., the store’s register.) The voided check is handed back to the consumer after it has been scanned, and the consumer signs an authorization form. The consumer may opt out of check conversion, at which time the merchant may choose to offer an alternative payment option.
The check acts as the source document. The MICR information from the paper check is captured by a MICR reader, and the information is used to process a one-time ACH debit to the consumer’s bank account.
Click here for more information on Accounts Receivable Conversion (ARC) and Back Office Conversion (BOC).
For more information about FedACH Services or BOC, visit the service offerings pages or contact your FedACH Sales Specialist.
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