Credit Card Processing Glossary

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Credit Card Processing Glossary
ACH (Automated Clearing House)
Acquirer:
Acquiring Bank
Address Verification Service (AVS):
Adjustment:
Audio Response Unit (ARU):
Authorization:
Authorization Response:
Approval -- transaction was approved
Decline -- transaction was not approved
Call Center -- response pending more information, merchant must call the toll-free authorization phone
number.
Authorization Code:
Auto Close:
Automated Clearing House (ACH) File:
Average Ticket (Average Sale):
Bankcard:
Batch:
Batch Close
Capture:
Cardholder:
Card Issuing Bank:
Card Not Present:
Chargeback:
Close Batch:
Code 10 Authorization:
Commercial Cards:
Corporate Card:
Credit (Reversal):
DDA Account:
Debit Card:
Deposit Correction Notice (DCN):
Discount Rate:
Edit Rejects:
Electronic Cash Register (ECR):
Electronic Date Capture (EDC):
Fleet cards:
Footer:
Independent Sales Organization (ISO):
Interchange:
Interchange Fee:
Internet Service Provider (ISP):
Issuing Financial Institution:
Manual Close:
Merchant: Customer of a processor/acquirer.
Merchant Identification Number (MID):
Magnetic Stripe:
Mail Order/Telephone Order (MOTO):
Network:
Non-Qualified Transaction Fees (NON-Qual):
PC Software:
Private Label Cards:
Point Of Sale (POS):
POS Terminal:
Processor:
Processing Network (Vendor):
Procurement/Purchasing Cards:
Real-Time Processing
Reserve Account
Sales Draft (Ticket):
Secure Payment Gateway:
Secure Payment Software/Software Module/Payment Module:
Settlement:
Shopping Cart Software:
Shopping Cart Software Providers:
Smart card:
Terminal Software:
Smart card:
Software: .
Sponsoring Bank:
T & E cards:
Terminal:
Terminal Identification Number (TID):
Third-Party Processor:
Third Party Secure Payment Gateway:
Transaction Fee
Value Added Reseller (VAR):
Batch
Card Issuer
Chargeback
Credit
Discount Rate
EDC (Electronic Data Capture)
ISO (Independent Sales Organization)
Issuing bank
Merchant Account
Merchant Bank
MO/TO
merchant
Recurring Fees
Real-Time Authorization
Real-time Processing
Reserve Account
Representment
SET (Secure Electronic Transaction)
Settlement
Ticket Size