Point of Sale (POS) Glossary
Electronic Draft Capture (EDC) is the procedure that a POS system uses to process the closure of a financial transaction. When a buyer uses a credit or debit card, a POS retrieves the customer’s financial information, records the amount due, and transmits the request for the transaction. The EDC process happens after a card is processed at the point of sale terminal, an authorization has been received, the transaction is approved, and a batch is submitted.
The EDC is the capture of funds and involves the initiation of withdrawal of an electronic bank draft. It is a critical part of a point of sale transaction process. The EDC is triggered when a merchant submits a batch operation to the processing company. The process usually completes within a few days, with the result being that the money is received in the merchant’s account.
An eCommerce website is open 24/7 and accessible from all over the world. Being online and having physical store opens your business to a global market.
You’ve probably been at the register at the grocery store and asked if you wanted to contribute money to a charity as you checked out. Maybe you donated, or perhaps you found it was annoying. It might have depended on your mood that day, or possibly the charity was a deciding factor.