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Merchant Services Terms - CThese terms occur frequently in both the merchant services industry and on our website.
A plastic card issued by a bank or other financial institution, or other Credit Card company (e.g., Visa® and MasterCard® Credit Cards and Debit Cards) that allows a Cardholder to pay for purchases by credit, charge or debit.
The processing enviroment where the Card is physically presented to the Merchant by the Cardholder as the form of payment at the time of sale.
The person in whose name the Card is issued and who uses the Card for purchasing goods or services, or to obtain a Cash Advance.
See Imprint or Imprinter.
A Transaction in which a Cardholder receives cash from a financial institution or an ATM.
A Transaction disputed by a Cardholder or Issuer pursuant to the Credit Card Rules.
Code 10 Authorization
An Authorization or an "additional verification step" obtained for a suspicious or questionable Transaction, Card or Cardholder.
A plastic card with a revolving credit limit used to purchase goods and services or to obtain cash advances.
Credit Card Rules
The rules and regulations promulgated by Visa®, MasterCard®, American Express® and Discover®.
Credit Transaction Receipt
A paper or electronic document evidencing a Merchant's refund or price adjustment to be credited to the Cardholder's account and debited from the DDA. This is also known as a credit slip or credit voucher.
Custom Payment Service (CPS)
Visa's regulations for the information that must be submitted with each transaction. Transactions must meet CPS criteria in order to qualify for lowest transaction processing fees available. Similar to MasterCards Merit system.
CVV2 / CVC2
A three-digit value or code printed on the signature panel of a Credit Card and used as additional verification for Card Not Present Transactions.
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