Merchant Service

Glossary Terms

Balance

The amount of money owed by the Cardholder to the Issuer for charges on a Credit Card.

Bankcard

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.

Batch

The accumulated Card Transactions stored in the Terminal or Host computer.

Batch Header

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.

BIN

See Bank Identification Number