Merchant Services Terms - E

These terms occur frequently in both the merchant services industry and on our website.

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EBT

See Electronic Benefits Transfer

EDC

See Electronic Draft Capture

Electronic Commerce (eCommerce)

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.

Euro MasterCard Visa (EMV)

Euro MasterCard Visa (EMV) chip technology defines a global standard for credit card and debit card payments. The EMV technology makes use of embedded microprocessor chips which hold cardholder data and keeps it secure. In comparison to magnetic stripe technology, a cardholder's data is more secure on a chip-enabled payment card. This is because chip technology provides dynamic authentication, which makes the whole process more secure./p>

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.

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