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U.S. Merchant Services - We'll Position You For Long-Term Success In Payment Processing - Call (866) 898-8767 |
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Credit Card Processing Terms Authorization: The process of verifying the credit card has sufficient funds (credit) available to cover the amount of the transaction. An authorization is obtained for every sale Bankcard: A MasterCard or Visa credit card Batch: The collective amount of transactions in the merchant's terminal or POS device that have yet to be settled Cardholder: Person that uses a credit card to purchase goods and services Close: The process of sending the batch for settlement Commercial Cards: Credit cards used by businesses to cover expenses such as travel and entertainment and purchasing Corporate Card: Credit card used for business-related expenses such as travel and entertainment Debit card: Credit card whose funds are withdrawn directly from the cardholder's checking account Discount rate: A collection of fees charged by the acquirer to process the merchant's transaction Electronic Cash Register (ECR): A device used for cash sales. Can also be integrated to accept credit cards Electronic Draft Capture (EDC): Process of electronically authorizing, capturing and settling a credit card transaction Fleet cards: Private label credit cards designed mainly for repairs, maintenance and fueling of automobiles Interchange: The fees assessed a transaction by MasterCard and Visa Independent Sales Organization (ISO): [U.S. Merchant Services] Merchant: Customer of U.S. Merchant Services Merchant number: Identifying number assigned to each merchant Network: Company used to authorize and capture credit card transactions Private Label: Credit or debit card that can be used only within a specific merchant's store Purchasing Card: Credit card used by business to cover purchasing expenses Settlement: Process of sending the merchant's batch to the network for processing and payment Software: Programming which determines the characteristics and features of the terminal Smart card: A credit-type card that electronically stores account information in the card itself TE card: Credit card used by businesses for travel and entertainment expenses Terminal: Equipment used to capture, transmit and store credit card transactions Value Added Reseller (VAR): Third party which enhances or modifies existing hardware or software, adding value to the services provided by the processor or acquirer |
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U.S.
Merchant Services • Serving the San Francisco Bay Area and beyond
since 1989 |
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