What fields are required to be passed to the Receiver in the POS Addenda Record?

What fields are required to be passed to the Receiver in the POS Addenda Record?

• A. Terminal Identification, Terminal Location, Terminal City, Terminal State
• B. Transaction Type, Transaction Amount, Terminal City, Terminal State
• C. Terminal ID, Terminal Address, Terminal City, Terminal State
• D. Merchant ID, Transaction Location, Terminal City, Terminal State

Answer: (A)

The required fields to be passed to the Receiver in the POS Addenda Record are crucial for specifying details about the transaction conducted at the point of sale. The correct answer, which includes Terminal Identification, Terminal Location, Terminal City, and Terminal State, provides complete information necessary for processing and ensuring proper handling of the transaction. Terminal Identification uniquely identifies the terminal that processed the transaction, helping to trace where the transaction occurred. Terminal Location provides the specific address or place where the terminal is situated. Terminal City and Terminal State further narrow down the geographical location, which can be important for various purposes, including compliance, fraud detection, and dispute resolution. Each of these fields contributes to creating a comprehensive record of the transaction, aiding in proper reporting and accountability. Thus, having all these specific details is essential for effective ACH operations related to point-of-sale transactions.

The required fields to be passed to the Receiver in the POS Addenda Record are crucial for specifying details about the transaction conducted at the point of sale. The correct answer, which includes Terminal Identification, Terminal Location, Terminal City, and Terminal State, provides complete information necessary for processing and ensuring proper handling of the transaction.

Terminal Identification uniquely identifies the terminal that processed the transaction, helping to trace where the transaction occurred. Terminal Location provides the specific address or place where the terminal is situated. Terminal City and Terminal State further narrow down the geographical location, which can be important for various purposes, including compliance, fraud detection, and dispute resolution.

Each of these fields contributes to creating a comprehensive record of the transaction, aiding in proper reporting and accountability. Thus, having all these specific details is essential for effective ACH operations related to point-of-sale transactions.