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 →


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

TCP/IP
Transport Control Protocol/Internet Protocol. A standard format for transmitting data from one computer to another. TCP deals with the construction of the data. IP routes the data from one computer to another.

Terminal
A device used by the Merchant to electronically process Transactions.

Terminal ID
In the payment card industry, a number provided to a Merchant by a Credit Card Processor when that Merchant retains the services of that Credit Card Processor to uniquely identify a Terminal. Also known as a Terminal Number. A Credit Card Processor may assign several terminal IDs to a given Merchant's Terminals although that Merchant has a single Merchant ID with that Processor.

Transaction
Any action between a Cardholder and a Merchant the results in activity on the Cardholder's account (e.g., purchase, refund/return, debit).

Transaction Date
The actual date that a Transaction occurs.

Transaction Receipt
The paper or electronic record evidencing the purchase of goos or services from a Merchant by a Cardholder using a Card.

Travel & Entertainment (T&E) Merchant
An airline, car rental company, or hotel whose primary function is to provide travel-related services. A travel agency (excluding one that is primarily engaged in the sale of transportation or travel-related arrangement services by mail/phone order) is a T&E merchant to the extent that it acts as the agent of an airline, car rental company, or hotel.

Triple DES (DES3)
A data encryption algorithm based on a cryptographic algorithm adopted by the National Bureau of Standards for data security in which information is processed through the DES algorithm three times.