Merchant Services Terms - S

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

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Secure Sockets Layer (SSL)

A cryptographic protocol that provide secure communications on the Internet for such things as web browsing, e-mail, and eCommerce transactions.

Service Establishment (SE) Number

Direct merchant account numbers assigned by American Express. New American Express accounts are established through your merchant service provider under the One Point accounts.

Servicer

The entity that processes Transactions on behalf of the Merchant.

Settlement

Also known as batch settlement. The process in which incoming transaction totals are verified and collected.

Swipe

The sliding of a card through the magnetic stripe reader unit on a processing device.

SSL

See Secure Sockets Layer

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