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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 →
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Glossary of Merchant Services Terms - P
These Terms Occur Frequently on Our Website
Payment Service Provider (PSP)
A company that specializes in the provision of payment services for a Merchant on the Internet. The PSP will handle the capture, authorization and settlement of credit and debit card payments and all the electronic and physical security required. They will often provide additional services such as fraud detection and prevention.
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Payment Card Industry (PCI)
Represents the Debit, Credit, Prepaid, e-Purse, ATM, and POS cards associated businesses.
The term is sometimes more specifically used to refer to the Payment Card Industry Security Standards Council, an independent council originally formed by American Express, Discover Financial Services, JCB, MasterCard Worldwide and Visa International on Sept. 7, 2006, with the goal of managing the ongoing evolution of the Payment Card Industry Data Security Standard.
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PCI Data Security Standard (PCI DSS)
The PCI DSS, a set of comprehensive requirements for enhancing payment account data security, was developed by the founding payment brands of the PCI Security Standards Council, including American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc. Inc. International, to help facilitate the broad adoption of consistent data security measures on a global basis.
The PCI DSS is a multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures. This comprehensive standard is intended to help organizations proactively protect customer account data.
For more information visit: www.pcisecuritystandards.org
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Personal Identification Number (PIN)
A number that must be entered by a Cardholder in order to complete certain types of Transactions (e.g., Online, Debit and EBT).
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Per Transaction Fees
Fees paid by the Merchant to the Merchant Bank or other contracted party on a per transaction basis.
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Point-of-Sale (POS)
Location in a merchant establishment at which the sale is consummated by payment for goods or services received.
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Point-of-Sale (POS) System
A system that processes commercial transactions such as an credit card terminal, electronic cash register, or specialized software.
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Pre Authorized Order
A written or electronic authorization by a Cardholder allowing a Merchant to charge their Card at a future date.
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