Automated Clearing House. An electronic network that processes large volumes of credit and debit transactions in batches. Transactions hosted by ACH include e-commerce transactions, business to business payments, and direct deposit of payroll, taxes and other government payments.
The funds transfer system governed by the ACH Rules. The ACH Network allows participating depository financial institutions to clear interbank entries electronically. A Merchant's DDA is debited and credited via ACH.
A fraud-reduction service that allows the Merchant to verify a Cardholder's billing address prior to completing a Card Not Present Credit Card Transaction. These can include mail order transaction or telephone order transactions as well as e-commerce gateway processing.
The Payment Device Processing Agreement, Terms of Service (TOS), any addendum to the Payment Device Processing Agreement or the TOS, the Merchant Account Application, this Merchant Account Operating Guide, any Merchant Account Agreement or Merchant Account Processing Agreement, any other guides or manuals provided to Merchant from time to time, and all additions to, amendments and modifications of, and all replacements to any of them, provided in writing to Merchant from time to time as applicable. Essentially the forms filled out when applying to set up a merchant services account.
In technology terms, a program designed to run on a specific platform. An Android application. An iPhone application. A Windows Application
In financial services terms, a form to be filled out when an 'applicant' 'applies' for a service or request for resources.
A desktop application used as a merchant account reporting and accounting reconciliation tool for viewing detailed reports of Debit or Credit Card Transaction activity, statement detail, Card type history, and qualification detail.
A required procedure by which a Merchant requests approval of a Credit Card Transaction from the credit card Issuer. Authorization is initiated by accessing the authorization center by telephone or electronic terminal. See also Magnetic Swipe Reader Authorization, Manual Credit Card Entry Authorization, or Voice Authorization.
The code sent by the Issuer in response to a Credit Card Authorization request that indicates whether the Transaction is approved. Responses may include: “Approved,” “Declined,” “Declined Pick-Up” or “Referral” (“Call Auth”).
With respect to a Person means (i) that the Person or any subsidiary of such Person shall (a) commence a voluntary case under the Bankruptcy Code of 1978, as amended, or other federal bankruptcy laws (as now or hereafter in effect); (b) file a petition seeking to take advantage of any other applicable laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding up or composition or adjustment of debts or any other similar conservatorship or receivership proceeding instituted or administered by any regulatory agency or body; (c) consent to or fail to contest, in a timely and appropriate manner, any petition filed against it in an involuntary case under such bankruptcy laws or other applicable laws; (d) apply for or consent to, or fail to contest in a timely and appropriate manner, the appointment of, or the taking of possession by, a trustee, receiver, custodian, liquidator, or similar entity of such Person or of all or any substantial part of its assets, domestic or foreign; (e) admit in writing its inability to pay its debts as they become due; (f) make a general assignment for the benefit of creditors; (g) make a conveyance fraudulent as to creditors under any applicable law; or (h) take any action for the purpose of effecting any of the foregoing; or (ii) that a case or other proceeding shall be commenced against the Person or any subsidiary of such Person in any court of competent jurisdiction, or through any regulatory agency or body, seeking (a) relief under the Bankruptcy Code of 1978, as amended, or other federal bankruptcy laws (as now or hereafter in effect) or under any other applicable laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding up or composition, or adjustment of debts; or (b) the appointment of a trustee, receiver, custodian, liquidator or the like of such Person or of all or any substantial part of the assets, domestic or foreign, of such Person or any other similar conservatorship or receivership proceeding instituted or administered by any regulatory agency or body.
A summary, similar to a deposit slip, of a group of credit card transactions accepted by a Merchant who does not process card transactions electronically. It is attached to the Transaction Receipts when they are sent to the paper credit card processor.
PIN-less Debit Card payment Transactions resulting in funds transfer from Cardholders to Merchants in connection with payments for recurring services (excluding casual or occasional purchases) for which a corresponding invoice is periodically presented to the Cardholder by the Merchant, and which Transaction is initiated via a telephone (Voice Recognition Unit, Interactive Voice Recognition) or Internet device.
A device that uses the Bluetooth protocol to read credit or debit card information from a magnetic strip into another electronic device such as a smart phone or tablet device like an Android or Apple iPad.
A plastic card issued by a bank or other financial institution, or by a Credit Card company (e.g., Discover Network, American Express (AMEX), Visa and MasterCard Credit Cards and Debit Cards), that allows a credit card holder to pay for purchases by credit, charge, or debit.
(i) the individual in whose name a Payment Device has been issued; and (ii) any individual who possesses or uses a Payment Device and who purports to be the person in whose name the Payment Device was issued or who purports to be an authorized user of the Payment Device.
The credit card processing environment where the Payment Device is not physically presented to the Merchant by the Cardholder as the form of payment at the time of the Transaction. Card Not Present includes, but is not limited to, Mail Order (MO), Telephone Order (TO), and Electronic Commerce (EC).
The data security regulations required by Visa to protect Cardholder account data and other data security best practices. The exact requirements for CISP can be found at www.visa.com/cisp. Merchant Operating Guide MOG200901 73.
A number printed on a Card and used as additional verification for Card Not Present Transactions. For American Express this is a four-digit code printed above the Card account number. For Visa, MasterCard and Discover Network this is a three-digit card code value printed on the signature panel of the Card.
(i) a Visa card or other card or device bearing the symbol(s) of Visa U.S.A., Inc. or Visa International, Inc. (including Visa Gold cards); (ii) a MasterCard card or other card or device bearing the symbol(s) of MasterCard International Incorporated (including MasterCard Gold cards); (iii) a Discover Network card or other card or device bearing the symbol(s) of Discover Network; or (iv) any card or device bearing the symbol of any other Credit Card Association.
An application or programming paradigm where information is stored, accessed and updated on the internet. The internet commonly being illustrated as a cloud drives the reasoning behind the term. The ability to access the information from anywhere in the world is the nature of a cloud drifting over the earth.
All information or items proprietary to any party to the Agreement, of which the other party to the Agreement obtains knowledge or access as a result of the relationship formed as a result of the Agreement, including, but not limited to, the following types of information and other information of a similar nature (whether or not reduced to writing) scientific, technical, or business information, product makeup lists, ideas, concepts, designs, drawings, techniques, plans, calculations, system designs, formulae, algorithms, programs, software (source and object code), hardware, manuals, test procedures and results, identity and description of computerized records, identity and description of suppliers, customer lists, processes, procedures, trade secrets, “know-how,” marketing techniques and material, marketing and development plans, price lists, pricing policies, and all other financial information.
A payment card or key fob equipped with a chip and antenna that securely communicates Cardholder account information via radio frequency to a POS Device. Convenience Fee A fee charged by Merchant for an added convenience to the Cardholder for the use of a Payment Device in a Transaction in accordance with the Payment Network Regulations.
The number of potential clients that perform a certain task due to compelling content as opposed to those who did not. The full amount of all visitors and a ratio of those who performed the desired action.
A fraud scheme where charges are added to a customers bill without disclosure or consent. The charges are usually disguised as official transactions and usually small amounts so they tend to go unnoticed or overlooked.
A card or device associated with a revolving line of credit that may be used to purchase goods and services from Merchant or to pay an amount due to Merchant or to obtain cash advances. A “Credit Card” includes any of the following cards or devices that are associated with a line of credit extended to the Person to whom the
(i) Visa.; (ii) MasterCard; (iii) American Express; (iv) Discover; (v) Diners; and (vii) any other organization or association that hereafter contracts with Servicer and/or Member to authorize, capture, and/or settle Transactions effected with Credit Cards or signature-based Debit Cards issued or sponsored by such organization or association, and any successor organization or association to any of the foregoing.
All applicable rules and operating regulations of the Credit Card Associations, and all rules, operating regulations, and guidelines for Credit Card Transactions issued by Servicer from time to time, including, without limitation, all amendments, changes and revisions made thereto from time to time. Merchant Operating Guide MOG200901 74
A document, in paper or electronic form, evidencing a Merchant's refund or price adjustment to be credited to the Cardholder's account and debited from the Merchant’s DDA. This is also known as
a credit slip or credit voucher.
See Card Identification Number.
CVV stands for Card Verification Value and level 2 respectively. CVV is when a merchant must re-enter the last 4 digits of a card number while processing a transaction. CVV 2 is when a merchant in-puts the digits that are on the back of a card. Those numbers are sent through for authorization along with the card numbers expiration date and other pertinent data.
A card or device bearing the symbol(s) of one or more EFT Networks or Credit Card Associations, which may be used to purchase goods and services from Merchant or to pay an amount due to Merchant by an electronic debit to the Cardholder’s designated deposit account. A “Debit Card” includes (i) a card or device that bears the symbol of a Credit Card Association and may be used to conduct signature-based, offline debit Transactions; and (ii) a card or device that bears the symbol of an EFT Network and can be used to conduct PIN based, online debit Transactions.
All applicable rules and operating regulations of the EFT Networks and Credit Card Associations, and all rules, operating regulations, and guidelines for Debit Card Transactions issued by Servicer from time to time, including, without limitation, all amendments, changes, and revisions made thereto from time to time.
The commercial checking account at a financial institution acceptable to Servicer and Member designated by Merchant to facilitate payment for Transactions, Chargebacks, returns, adjustments, fees, fines, penalties, and other payments due under the Agreement. In the instance of a Debit Card or ATM Card, this refers to the Cardholder's deposit account.
NACHA, any regional ACH association or network, and any other organization or association used by Servicer and/or Member in connection with the ECS that is hereafter designated as an ECS Association by
Servicer from time to time.
All applicable rules and operating regulations of or applicable to the ECS Associations (including the ACH Rules) and the ECS MOG, in each case including without limitation, all amendments, changes, and revisions
made thereto from time to time. Merchant Operating Guide MOG200901 75
(i) Interlink Network Inc., Maestro U.S.A., Inc., STAR Networks, Inc., NYCE Payments Network, LLC, PULSE Network LLC, ACCEL/Exchange Network, Alaska Option Services Corporation, Armed Forces
Financial Network, Credit Union 24, Inc., NETS, Inc., and SHAZAM, Inc.; and (ii) any other organization or association that hereafter authorizes the Servicer and/or Member to authorize, capture, and/or settle Transactions
effected with Debit Cards, and any successor organization or association to any of the foregoing.
A service that allows electronic transfer of government funds to individuals through the use of a plastic debit-like Card and a Personal Identification Number (PIN). The federal
government requires all states to distribute food stamps and cash benefits in this manner. The EBT Card may then be used for qualified purchases at merchant locations.
The service offering by Servicer pursuant to which Transactions effected via an ACH Payment Device are presented for clearing and settlement through the ACH Network or alternate clearing channel as described in the ECS Merchant Operating Guide (ECS MOG).
A Transaction that occurs when the Cardholder uses the Internet to make a purchase from a Merchant or Merchant uses the Internet to submit the Transaction for processing. Typically this involves shopping cart software that talks to a payment gateway to handle the credit card processing.
A special card purchased by a Customer or provided by Merchant to a Customer that is redeemable for merchandise, services or other Transactions. A program that allows a Merchant to sell Electronic
Gift Cards redeemable for in-store merchandise or services.
The global standards system for authenticating credit card and debit card transactions. These standards rely on chip cards which have integrated circuit chips in the card and capable readers and Point of Sale systems.
The equipment identified on Schedule A, Schedule of Fees, to the Agreement, including (i) for Satellite Services, satellite communication services equipment, and VSATs; (ii) for Datawire Services, Micronode
2 or 4 port devices; or (iii) for Voyager Card Acceptance or Wright Express Card Acceptance, Fleet terminals.
A unique Transaction agreement that is required for an eligible T&E Merchant in limited situations where a Cardholder authorizes a hotel, lodging, or car rental Transaction in advance and chooses
to retain express service options.
The software, hardware and protocols that allow a web site shopping cart to perform transactions through a merchant account. Gateways link the merchant account to the e-commerce shopping cart for electronic transaction processing.
The clearing and settlement system for Visa and MasterCard Credit Cards and Debit Cards and, where applicable, Discover Network Credit Cards and Debit Cards, where data is exchanged between the Servicer
and the Issuer.
The amount paid by the Servicer to the Issuer on each Transaction. Interchange Fees vary according to the type of Merchant and the method of processing. Internet Payment Screen. The screen displayed to a Cardholder during an Internet Bill Payment Transaction
payment process which allows the Cardholder to select the payment method and to confirm understanding and agreement with payment terms, shipping and return policy.
An electronic Authorization request generated when a Merchant swipes the Cardholder's Card through the POS Device. The POS Device reads the Cardholder information from the Magnetic Stripe on the Card and then dials out to the Authorization Center to obtain an Authorization Code.
For MO, a Transaction that occurs when the Cardholder uses the mail to make a payment to a Merchant and for TO, a Transaction that occurs when the Cardholder uses a telephone to make a payment to a Merchant.
An Authorization request generated when the Merchant key-enters the Cardholder's Card number, expiration date, and sales amount into the POS Device (e.g., when the POS Device is unable to read
the Cardholder information from the Magnetic Stripe on the Card). The POS Device then dials out to the
appropriate Authorization Center to obtain an Authorization Code.
A financial institution designated by us that is a principal, sponsoring affiliate or other member of Visa or MasterCard. The Member may be changed by Servicer at any time and the Merchant will be provided notice of
The Merchant Application and any additional document containing information regarding Merchant's business that is submitted to Servicer and Member in connection with Merchant's application for
processing services, including documents submitted by Merchant as a part of the bid process, if applicable. Merchant Category Code (MCC). The four-digit code and corresponding definition assigned to each Merchant
that describes the type of business in which the Merchant is engaged.
A Web-based Transaction reporting and reconciliation system used to manage Transaction data from multiple locations or multiple merchant accounts via any standard Web browser (e.g., Internet Explorer).
The operating manual provided by Servicer to Merchant that prescribes rules and procedures governing the Transactions. The MOG may be amended from time to time by Servicer in its sole discretion, which amendments will be effective upon notice to Merchant. Merchant Plate A plastic or metal plate affixed to the Imprinter that contains Merchant information such as the Merchant name, Merchant Identification Number, city and state, and a Discover or American Express account number, if applicable.
An offering in exchange for personal information, and action on a social network platform, often declaring purchase and delivery of items for use in social marketing. Can also be used in reference to mobile gift cards.
Payment transaction processing based on a mobile device, especially a smartphone or internet connected tablet device such as Androids or Apples iPad. Also used to indicate electronic wallet transaction processing.
An application to store account information (bank, credit card, or debit card) in a mobile device, smartphone or tablet to be used for payment processing. Tap To Pay and NFC - Near Field Communications are the technologies often used in conjunction with digital or electronic wallets.
The use of a smart phone or internet connected tablet to act as a point of sale device. Usually an app that is added to the smart phone or tablet to allow inventory management and sales ordering and completing the transaction by swiping or keying in credit card data. As we evolve to EMV or Chip and Pin technologies this will change to EMV 'card dipping' where the card is entered into a chip reader as opposed to traditional mag stripe readers.
Technology behind tap to pay transaction processing. A contactless short-range wireless RFID technology which combined with an electronic wallet app links fincancial account information to an account used to perform a credit card transaction without having to present the actual credit or debit card.
A specific program offering by a Credit Card Association that includes required criteria that must be met by the Merchant in order to submit No Signature Required Transactions and obtain some protection from Chargebacks.
A Credit Card or Debit Card Transaction that does not require Merchant to obtain a Cardholder signature on a Transaction Receipt because the Merchant and the Transaction satisfy the requirements of a No Signature Required Program.
The data security regulations, including maintaining Cardholder account data in a secure environment, and other data security best practices endorsed by the major card associations including Visa and MasterCard, as such may be amended from time to time. Visa requires that Merchants and their agents comply with CISP and MasterCard requires that Merchants and their agents comply
Any device used for the purpose of obtaining credit or debiting a designated account including a Credit Card, Debit Card, and any other financial transaction device, including an Electronic Gift Card, check
(whether converted into electronic form or used as a source document for an electronic fund transfer), EBT Card, stored value card, “smart” card, or other device created to be used for the purpose of obtaining credit or debiting a
designated account, that is now or hereafter effected through Transactions with Merchants.
Processing Services provided by Servicer to Merchants engaging in Transactions related to petroleum products or services, including Satellite Services, Datawire Services, Voyager Card Acceptance, and Wright Express Card Acceptance.
A secure device with an alphanumeric keyboard which conforms with the Debit Card Rules and applicable standards administered by the Payment Card Industry Security Standards Council, and requirements established from time to time by Servicer, and through which a Cardholder may enter a PIN.
A device used by the Cardholder to enter a PIN that identifies a Cardholder in an Authorization request originating at a terminal with electronic capability. PED's are used for Debit Card
transactions to purchase goods or services and must comply with applicable standards administered by the Payment Card Industry Security Standards Council.
Unlike End To End encryption which secures data throughout the transaction process, Point To Point encryption protects data from the card reader to a layer of the device or merchant network for example.
A terminal, software, or other point-of-sale device, including a Third Party Terminal, at a Merchant location that conforms with the requirements established from time to time by Servicer and the applicable Payment
Network. The requirements incorporate
(i) a Track 2 Magnetic Stripe Reader; (ii) communicates electronically, directly or indirectly, with the Servicer’s Debit System; (iii) uses a receipt printer capable of providing a receipt
conforming to the Debit Card Rules and Regulation E; (iv) uses a journal printer, journaling facility or terminal generated
receipt; (v) uses an encrypted alphanumeric PIN Pad; and (vi) uses a keyboard that can perform actions, functions and data entry. POS Device also includes a Pin Entry Device (PED) that is used by the Cardholder to enter
a PIN that identifies a Cardholder in an Authorization request originating at a terminal with electronic capability.
A Transaction charged to the Cardholder (with prior written or electronic permission to a Merchant) on a periodic basis for recurring goods and services (e.g., monthly membership fees, utility bills,
An Authorization Code indicating that the Issuer is requesting that the Merchant call the Voice Authorization Center, which will either provide an Approval Code or ask the Merchant to request additional information from the Cardholder (e.g., mother's maiden name).
The software identified on Schedule A, Schedule of Fees, to the Agreement, including for Datawire Services, Network Access Module or other programs supplied by Servicer and used for Internet-based electronic payment processing.
A point-of-sale device used by the Merchant to electronically process Card Transactions. Third Party Terminal, A terminal, other point-of-sale device, or software provided to Merchant by any entity other than Servicer or its authorized designee.
Any entity that stores, processes, or transmits card data or transaction data on behalf of Merchant or that provides software to Merchant for transaction processing, storage, or transmission, except to the extent such services are performed by the entity in its capacity as an agent of Servicer performing Servicer’s obligations under the Agreement.
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National Transaction Corporation was founded in 1997 to help businesses of all sizes with their cash flow. The goal was to make any transaction as effective and efficient as possible.
The mission was to make digital transactions reliable and simple to the merchant and familiar to the consumer, reducing the complexity and expense to both.