Glossary of Merchant Services Terms

MerchantService.com Announces New ISO / Agent Program
MerchantService.com announces their ISO / Agent program for experienced merchant services sales offices and ISO agents. The program features an exclusive, registered brand name of Merchant Service Group of “geographical area” for each ISO/Agent. “To maximize your sales success … Continue reading →

Merchant Services now offers eC Cash Advance Program at MerchantService.com
Sarasota, FL – December 6, 2011 – MerchantService.com, a leading merchant services provider, is pleased to announce they now offer the eC Cash Advance program which provides business cash advances through account receivable financing. Business Cash Advances are not … Continue reading →

MerchantService.com Offers $50,000 in PCI Breach Coverage Insurance to Merchants
Sarasota, FL – November 2, 2011 – MerchantService.com, a leading merchant services provider of credit card processing, is pleased to announce that starting in November they now offer all of their merchants up to $50,000 in PCI breach coverage insurance. … Continue reading →

Merchant Services Protection: How to Protect Yourself Against Would-Be Burglars
Protection against would-be burglars is a necessity for any business. Whether it be a physical robbery or computer fraud, every business has to hope for the best and plan for the worst. There are many things a business can do … Continue reading →

Durbin Amendment Starts at the end of October – Time to change your Merchant Account?
There has been a lot of buzz about the Durbin Amendment and what the ramifications of it will be. The amendment is set to go into effect at the end of October and the anticipation continues to grow. There has … Continue reading →


	Online Chat (888) 288-3816 Mon-Fri 9-5 EST

Glossary of Merchant Services Terms - E
These Terms Occur Frequently on Our Website

EBT
See Electronic Benefits Transfer.

EDC
See Electronic Draft Capture.

Electronic Commerce
A Transaction that occurs when the Cardholder uses the Internet to make a purchase from a Merchant.

Electronic Benefits Transfer (EBT)
EBT is an electronic system that allows a recipient to authorize transfer of their government benefits from a Federal account to a retailer account to pay for products received. EBT is used in all 50 States, the District of Columbia, Puerto Rico, the Virgin Islands, and Guam. EBT has been implemented in all States since June of 2004.

Electronic Draft Capture (EDC)
EDC is a Point-of-Sale Terminal that reads the information encoded in the magnetic stripe of Cards. These Terminals electronically Authorize and Capture transaction data, eliminating the need for a paper deposit.

Embossing
The process of printing data on a Card in the form of raised characters to allow the imprinting of Transaction Receipts.

Encrypting PIN pad (EPP)
A device for secure PIN entry and encryption in an unattended PIN acceptance device.

Encryption
A security or anti-fraud technique that scrambles data automatically in the Terminal before data is trasmitted. For example, PINs are encrypted when transmitted for Authorization.

EPP
See Encrypting PIN pad.

Expired Card
A Card on which the embossed, encoded or printed expiration date has passed.

Extensible Markup Language (XML)
A metalanguage (a language to define languages) approved as a World Wide Web Consortium (W3C) recommendation in February 1998. A simplified version of Standard Generalized Markup Language (SGML), XML captures SGML's key advantages (such as extensibility) without its more obsecure features.