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Merchant Services Terms - B

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


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