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.
As a savvy small or medium-sized business owner, you know that you can’t outsell the giant mega-store. You build your customer base because you provide excellent service, an enjoyable shopping experience, and a fantastic value.