Merchant Services Terms - B
These terms occur frequently in both the merchant services industry and on our website.
The amount of money owed by the Cardholder to the Issuer for charges on a Credit Card.
A payment Card issued by a Bank.
Bank Identification Number (BIN)
The identification number assigned to a Member that is used for Card issuing, Authorization, clearing and Settlement processing.
The accumulated Card Transactions stored in the Terminal or Host computer.
A summary, similar to a deposit slip, of a group of Card Transactions accepted by a Merchant who does not process Transactions electronically. It is attached to the Transaction Receipts when they are sent to the paper processor.