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Merchant Services Terms - TThese terms occur frequently in both the merchant services industry and on our website.
Transport Control Protocol/Internet Protocol. A standard format for transmitting data from one computer to another. TCP deals with the construction of the data. IP routes the data from one computer to another.
A device used by the Merchant to electronically process Transactions.
Terminal Identification (TID) Number
In the payment card industry, a number provided to a Merchant by a Credit Card Processor when that Merchant retains the services of that Credit Card Processor to uniquely identify a Terminal. Also known as a Terminal Number. A Credit Card Processor may assign several terminal IDs to a given Merchant's Terminals although that Merchant has a single Merchant ID with that Processor.
Any action between a Cardholder and a Merchant the results in activity on the Cardholder's account (e.g., purchase, refund/return, debit).
The actual date that a Transaction occurs.
Travel & Entertainment (T&E) Merchant
An airline, car rental company, or hotel whose primary function is to provide travel-related services. A travel agency (excluding one that is primarily engaged in the sale of transportation or travel-related arrangement services by mail/phone order) is a T&E merchant to the extent that it acts as the agent of an airline, car rental company, or hotel.
Triple DES (DES3)
A data encryption algorithm based on a cryptographic algorithm adopted by the National Bureau of Standards for data security in which information is processed through the DES algorithm three times.
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