ELECTRONIC DRAFT CAPTURE (EDC) MODE definition
ELECTRONIC DRAFT CAPTURE (EDC) MODE shall refer to Credit Card electronic transaction processing method which does not require the submission of paper drafts by the MERCHANT to METROBANK for posting into the Cardholder accounts or interchange settlement with other issuing banks.
ELECTRONIC DRAFT CAPTURE (EDC) MODE pertains to the electronic means by which a Card transaction is processed via a point-of-sale (POS) terminal. There is no need for the EDC Slips to be forwarded to BPI for manual posting to the Cardholder’s account. The transaction is posted automatically to the account of the Cardholder at the end of the day after batch settlement, for as long as the MERCHANT performs the settlement process via the POS terminal during the day.