Glossary of Terms

April '08 Interchange Rate Increase - (Nova Information Systems)
2/27/2008

ViVOtech first to be certified to support Discover Network - (ViVOtech Solutions)
8/2/2006

Debit Transactions on the Rise - (First Data)
8/1/2006

Fed won’t set interchange fees - (ATM Marketplace.com)
4/21/2006

7-Eleven intros second wave of Vcom ATM hybrids - (ATM Marketplace.com)
4/3/2006

Chase 'blink' Launches In Dallas-Fort Worth - (Payment News)
1/13/2006

HSBC To Issue American Express Credit Cards - (Payment News)
12/23/2005

The next generation of theft deterrence - (Convenience Store Decisions)
10/25/2005

MBNA America Bank launches contactless credit cards in Atlanta - (Contactless News)
10/17/2005

Signature Debit Fraud Runs 15 Times Higher Than on PIN Debit - (Digital Transaction News)
10/12/2005

U.S. Drug Store Chain To Accept Contactless Cards - (Card Technology)
9/6/2005

MasterCard Teams with Motorola to Test PayPass for Cell Phones - (Digital Transaction News)
12/10/2004

Royal Bank offers debit cards for U.S. shoppers - (Buffalo (N.Y.) Business First)
11/10/2004

Why More Merchants Are Adopting PIN Debit - (Digital Transaction News)
8/04/2004

Poll shows Americans enamored of the ATM - (ATM Market Place)
05/06/2003


	Live Chat Email Toll Free: 888-288-3816 Mon-Fri 9-5 EST/PST

Glossary of Terms - V
These Terms Occur Frequently on Our Website

Validation Code
A unique 4 character value that VISA includes as part of the CPS/ATM program in each authorization response to ensure that key authorization fields are preserved in the clearing or settlement record.

Verified by Visa (VBV)
The Visa scheme designed to authenticate cardholders so that they cannot subsequently repudiate there use of a card to purchase goods. It will also reduce other fraud as fraudulent users will not generally know the pass phrase or PIN associated with the card.

Voice Authorization
An Authorization process whereby a Merchant calls the Voice Authorization Center and provides Cardholder and purchase information over the telephone. The Voice Authorization Center then provides an Authorization Code to the Merchant.

Void(ed)
Nullifies a Transaction that has been recorded for Settlement, but not yet settled. This removes the Transaction from the Batch of transactions to be settled.

Voice Authorization Center
The center that conducts Voice Authorization for Credit Card Transactions.