Card-Not-Present Transaction
A payment made without the physical card being swiped or tapped at the point of sale, such as an online, phone, or mail order purchase.
Card-not-present transactions typically carry higher processing fees and fraud risk for the merchant compared to a card-present transaction, since there’s no physical card verification at the moment of sale.
Businesses that operate primarily online or take phone orders will show mostly card-not-present transactions on their processing statements, which is relevant context for lenders reviewing that specific type of processing history.
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