See the entry for "American Bankers Association (ABA)"
A nine-digit identification number assigned to member financial institutions and banks by the American Banker's Association (ABA). The number is used to identify the financial institution or bank associated with a customer's bank account.
This eCheck.Net transaction type is a single-entry debit against a customer's checking account. ARC allows merchants to collect payments received in the mail or left in a drop-box, and convert them to an electronic payment later. Payment authorization is obtained by posting required notices before accepting a customer's check. For more information about eCheck.Net transaction types, see the eCheck.Net® Operating Procedures and User Guide.
See the entry for "Automated Clearing House (ACH) Network"
The malicious practice by untrustworthy persons or fraudsters to use stolen bank account information to purchase merchandise, or by a legitimate account holder to purchase merchandise with the intention of returning it used or modified for refund. ACH fraud also occurs when account holders falsely dispute transactions they authorized. Chargeback or Return fraud occurs with paper and electronic checks.
See the entry for "Automated Clearing House (ACH) Network"
A payment transaction to or from a Receiver (the customer) processed via the ACH Network. The participants in an ACH Transaction are (1) the Originator (the merchant), (2) the Third-Party Processor, (3) the Originating Depository Financial Institution (ODFI), (4) the ACH Network, (5) the Receiving Depository Financial Institution (RDFI), and (6) the Receiver.
Also see "Automated Clearing House (ACH) Network", "Originator", "Originating Depository Financial Institution", "Receiver", and "Receiving Depository Financial Institution, Third-Party Processor".
A financial institution or Merchant Service Provider (MSP) that facilitates and manages credit card processing on behalf of a merchant customer.
The bank or financial institution that holds the merchant's bank account that is used for collecting the proceeds for credit card processing.
The credit card processing entity with which an Acquirer partners in order to provide merchants with transaction clearing, settlement, billing and reporting services. Also see "Processor".
A system established by the credit card processing associations to verify customer billing addresses submitted with e-commerce payment transactions. Though AVS does not verify the legitimacy of a transaction, Card Not Present merchants can use AVS to accept or decline transactions based on the validity of the billing address information provided by the customer.
A value that indicates the results of an Address Verification Service (AVS) comparison. A code and description are provided by the merchant's processor. Also see "Address Verification Service (AVS)".
The Advanced Fraud Detection Suite™ is a powerful, rules-based set of transaction filters and Internet Protocol (IP) address tools designed to help online merchants identify, manage and prevent costly fraudulent transactions. For more information about AFDS, please see http://www.authorize.net/afds.
The preferred method for connecting a merchant Web site to the Authorize.Net Payment Gateway. AIM allows merchants to customize their own payment form (the Web page that collects the customer's payment information) and receipt page (the Web page that reports a summary of the transaction back to the customer), as well as submit transactions over an end-to-end Secure Sockets Layer (SSL) connection.
See the entry for "Advanced Fraud Detection Suite™ (AFDS)"
A national organization that represents American financial institutions, banks and other financial entities. Members are assigned an identification number, or ABA Transit Routing Number. Also see "ABA Transit Routing Number".
See the entry for "Application Program Interface"
A computer communication protocol that facilitates the transfer of or access to information between two separate software or computer applications.
See the entry for "Authorization"
See the entry for "Automated Recurring Billing™ (ARB)"
See the entry for "Accounts Receivable Conversion (ARC)"
See the entry for "Acceptable Use Guidelines"
A practice or procedure to verify the identity of an individual or organization. There are varying levels of authentication for accepting payments. Examples include checking a customer's driver's license when accepting payment at retail or validating a customer login and password at a merchant Web site. In respect to payment gateway account authorization, Authorize.Net employs a number of electronic practices and procedures to verify that merchants accessing the payment gateway are authorized to do so.
The response from a card issuing bank to a merchant's transaction authorization request indicating that payment information is valid and funds are available on the customer's credit card. Also called an Approval.
Also, for eCheck.Net® transactions, an Authorization is a paper or electronic document or record "signed" by the customer that authorizes a merchant to submit a charge transaction against their bank account.
The transaction amount that is submitted to the card issuing bank for funds approval. This amount is reserved against the available balance of a customer's credit card until the transaction is captured, a subsequent Void transaction is submitted, or the 30-day window for the authorization expires.
A credit card transaction request to authorize and capture, or settle, funds for a purchase. The payment gateway submits the request to the card issuing bank for authorization and upon approval, will automatically submit the transaction for settlement.
A code assigned to a credit card transaction by the card issuing bank once the transaction has been approved.
A credit card transaction request to only authorize, or reserve, funds for a purchase. The payment gateway submits the request to the card issuing bank for authorization, but no further action is taken. Also called "Auth-Only".
A transaction request submitted by a merchant to verify that funds are available on a customer's credit card for a purchase. Further action by the merchant depends on whether the transaction request type is an Authorization Capture or an Authorization Only, and whether the transaction request is authorized by the card issuing bank. Also see "Authorization Capture" and "Authorization Only".
Policies that govern the appropriate uses of the Authorize.Net Payment Gateway by merchants. The AUG also dictate the types of merchants and/or merchant operations that are not supported by the Authorize.Net Payment Gateway. The AUG may be viewed at http://www.authorize.net/company/terms/.
The group of financial institutions and similar entities within the banking industry that work together to facilitate the processing, clearing, delivery and settlement services for electronic check transactions.
The ACH Network is governed by ACH Rules as defined by the National Automated Clearing House Association (NACHA).
An Authorize.Net value-add solution that allows merchants to create a recurring billing schedule or "subscription" for the purchase of goods or services. The merchant enters transaction and customer billing information, specifies a billing amount and billing interval and ARB does the rest, automatically generating subsequent transactions for the duration of the subscription. For more information about ARB, please see http://www.authorize.net/arb.
See the entry for "Address Verification Service"
This eCheck.Net transaction type is a one-time charge transaction against a customer's checking account. BOC allows merchants to collect a check written at a point of sale (checkout counter, manned bill payment location, service call location) and convert it to an ACH debit during back office processing. Payment authorization is obtained by posting required notices before accepting a customer's check. For more information about eCheck.Net transaction types, see the eCheck.Net® Operating Procedures and User Guide.
The account number assigned by a bank to a checking or savings account holder. This information must be provided to a merchant by a customer in order to make an electronic check payment.
This indicates the type of bank account used for an electronic check transaction. For example: checking, business checking or savings.
A payment card issued to a consumer by a financial institution or bank; a credit or debit card.
A group of financial institutions or banks that have formed an association for issuing bank cards. Usually a bank card association will work together along with other payments entities to provide certain bank card offers.
An identification number assigned by Visa to each of its member financial institutions, banks and processors.
Equivalent to .01 percent, or one hundredth of one percent, and is used as a measurement of fee rates. Rate changes are often expressed in basis points instead of hundredth percents, e.g., a fee rate increase of 1.95 percent to 2.0 percent is expressed as an increase of 5 basis points.
A group of transactions that have been gathered over a certain period of time and are submitted together to the appropriate processing networks for clearing and settlement.
A Merchant Interface tool for uploading multiple transactions at once from a spreadsheet or proprietary business application.
See the entry for "Back Office Conversion (BOC)"
A term used in the payments industry that refers to merchants that operate in storefront or physical locations. Also see "Retail".
Refers to the electronic infrastructure that provides a high-speed, continuous connection to the Internet.
A facility at which a telephone order merchant operates. Consumers are able to place orders with representatives over the telephone.
A credit card transaction request to capture funds that were previously authorized, but NOT via the payment gateway. For this type of transaction, the merchant will submit the authorization code that was previously received from the issuing bank through some other means than a payment gateway request, e.g., by telephone.
Credit card issuing entities such as Visa and MasterCard that govern and oversee the use of credit cards for payment transactions.
A Card Code is a three- or four-digit number that appears on the back of a credit card (on the front for American Express). This code may be used to validate customer information on file with the credit card association.
This value is returned to the merchant by the processor, and indicates whether the billing information provided by a customer matches information on file at the credit card association for the cardholder associated with the credit card number and Card Code.
Literally means that a cardholder's credit card is not physically presented to a merchant at the time of the transaction. This term is used in the payments industry to distinguish e-commerce merchants, such as those that operate via Web sites or from mail order/telephone order locations, from "brick and mortar", or retail merchants.
Literally means that a credit card is physically presented to a merchant by a cardholder at the time of the transaction. This term is used in the payments industry to distinguish "brick and mortar", or retail merchants from those that operate from mail order/telephone order locations or via Web sites.
A hardware device that facilitates the reading and transmission of payment information stored in the magnetic stripe on a credit, debit or stored-value card. Also known as a "Magnetic Stripe Reader".
A consumer to which a credit or debit card is issued by the credit card associations or by the consumer's bank.
The cardholder authentication programs Verified by Visa and MasterCard® SecureCode™ are security programs created by the card associations to provide identity authentication for Visa and MasterCard cardholders, and transaction protection for merchants. By registering for these programs, merchants can minimize the risk of chargebacks and returns while providing optimal security for their Visa and MasterCard customers.
A claim made by a cardholder that an unauthorized purchase or transaction was performed on their credit card.
This eCheck.Net® transaction type is a charge or refund against a business checking account. One-time or recurring CCD transactions are fund transfers to or from a corporate entity. For more information about eCheck.Net transaction types, see the eCheck.Net® Operating Procedures and User Guide.
See the entry for "Cash Concentration or Disbursement (CCD)"
A chargeback is a type of return that occurs when an account holder claims they did not authorize a transaction, when the account holder and the customer are not the same person (i.e., identity theft), when the authorization was not properly obtained from your customer or when your customer does not recognize a transaction.
A code provided to the merchant by the card issuing bank that indicates the reason for the chargebacked transaction.
Refers to the Check Truncation Act of the 21st Century, a Federal Reserve Bank law that allows merchants to submit customers' check, or bank account, information for payment electronically instead of processing paper checks.
A risk management process that verifies the trustworthiness of an electronic check transaction against an extensive high risk or bad check database.
See the entry for "Visa Cardholder Information Security Program (CISP)"
See the entry for "Refund"
See the entry for "Interchange"
The account number assigned by a credit card association or card issuing bank to a cardholder. This information must be provided to a merchant by a customer in order to make a credit card payment.
A unique identification value assigned to a customer by a merchant, which may be associated with the invoicing or billing for a transaction.
Indicates the Internet Protocol (IP) address of a customer's Web browser, or the IP address from which a transaction is submitted to the payment gateway.
The time of day that a merchant's payment transactions are batched and electronically picked up by the payment gateway for processing. The default payment gateway cut-off time is 3:00 PM PST. Merchants may configure their cut-off in the Merchant Interface.
Transactions that are not approved by the card issuing bank are marked as declined. No further action may be taken for declined transactions.
An Originating Depository Financial Institution (ODFI) or Receiving Depository Financial Institution (RDFI) (or in general terms, a bank) participating in the ACH Network.
See the entry for "Depository Financial Institution (DFI)"
An electronic file containing unique information that is used to verify the trustworthiness of an organization or individual. Digital Certificates are issued by a Certificate Authority, and are used with the Secure Sockets Layer (SSL) protocol. Also see "Digital Fingerprint", and "Secure Sockets Layer (SSL)".
A value, also called a "hash", generated by combining several input values and applying a highly complex mathematical function. Digital fingerprints are used to authenticate that electronic communications were sent and received via the Internet without being intercepted or modified during transmission. Authentication is performed by using the same input values and mathematical function to recreate the digital fingerprint. If the recreated fingerprint matches the fingerprint submitted with the communication, its authenticity is verified. Because of the complex nature of the mathematical function, the individual input values used to create the digital fingerprint cannot be determined through analysis of the fingerprint.
Digital fingerprints used to authenticate the legitimacy of transactions submitted to Authorize.Net are transaction unique, so any slight alteration to transaction data during Internet transmission will result in failed authentication, and a failed transaction.
The percent of each credit card or eCheck.Net® transaction and batch settlement processed that is billed to the merchant by the payment gateway. The transaction types for which the discount fee is charged are: charges, refunds, voids and declines.
Authorize.Net's exclusive electronic check payment solution. eCheck.Net® allows merchants to post charge and refund transactions directly to a customer's bank account.
The one-time fee charged to merchants for the underwriting and review of their application for the eCheck.Net® service.
Describes a check or bank account payment that is submitted and/or processed electronically.
The United States federal law that governs the use and administration of electronic funds transfer services.
A United States federal law that defines and governs the use of digital signatures and records in electronic commerce.
See the entry for "Electronic Signatures in Global and National Commerce Act (E-SIGN)"
The date on which the validity of a credit card expires. Transactions will only be approved for credit cards that are not yet expired.
The governing financial institution of the United States of America.
The malicious practice by untrustworthy and dishonest persons to use stolen personal information, credit card information, and/or compromised bank account information for personal gain; not limited to the purchase of merchandise, the submission of fraudulent transactions, or the abuse of a merchant's purchase policies or e-commerce Web site to check the validity of stolen payment information.
Occurs when monetary proceeds for a merchant's eCheck.Net® transactions are deposited to the merchant's bank account.
The value generated by applying a complex mathematical function to several input values. Also see "Digital Fingerprint".
An organization that sells business products or services to merchants and/or acquires merchants on behalf of various types of merchant service providers.
The process by which all parties involved in a credit card transaction (i.e., processors, acquirers, issuers, etc.) manage the processing, clearing and settlement of credit card transactions, including the assessment, and collection and/or distribution of fees between parties. Also known as Credit Card Interchange.
A method of transmitting information and communications between computer systems and networks via the Internet.
An organization or business that provides Internet services and resource management to businesses and consumers.
This eCheck.Net® transaction type is a charge against a customer checking or savings bank account. Payment authorization is obtained from the customer via the Internet. For more information about eCheck.Net® transaction types, see the eCheck.Net® Operating Procedures and User Guide.
A unique identification value assigned to a transaction by a merchant, which may be associated with order fulfillment and billing for a transaction.
See the entry for "Issuing Bank"
A financial institution that issues credit cards to consumers on behalf of the card associations. Also known as Card Issuing Bank. Also known as an "Issuer".
Additional information that may be submitted with the minimum required information for a payment transaction. Examples include shipping and tax information.
Extensive information that may be submitted with the minimum required information and level 2 data for a payment transaction. Examples include product codes and other merchant-specific order information.
The black stripe on a credit, debit or stored-value card that stores the cardholder's account or payment information.
A business, or merchant, that sells merchandise or services to consumers via mail or telephone initiated orders. MOTO merchants operate from call or fulfillment centers.
The submission of payment information for a transaction by keying the customer's payment information into a hardware terminal or Virtual Terminal. For example, any transaction that is not submitted by allowing an organization or business to "swipe", or read, payment information from a magnetic stripe on a credit, debit or stored-value card; or transactions that take place by physically keying in payment information using a keypad. Additionally, for online merchants a manual transaction might be considered any transaction that is not entered at their e-commerce Web site by a customer.
A security program created by MasterCard® to provide identity authentication for cardholders and transaction protection for merchants. By registering for MasterCard® SecureCode™, merchants can minimize transaction risks while providing additional security for their MasterCard customers.
A program created by MasterCard® stating its technology and sensitive data security requirements for merchants and merchant service providers. Compliance is required of its member institutions.
The person or business entity that sells goods or services to a customer.
A financial institution or bank account that is used by a merchant specifically for the purpose of collecting proceeds consumer bank account or credit card payment transactions. A Card Present (CP) merchant account is used by merchants that receive payments in a physical location where payment is physically presented to the merchant by the customer at the time of the transaction. A Card Not Present (CNP) merchant account is used by merchants that receive payments electronically or in situations where payment is not physically presented to the merchant by the consumer at the time of the transaction.
A financial institution, or bank, that provides a financial account to a merchant for the purpose of collecting proceeds from consumer bank account or credit card payment transactions.
An identification number assigned to each member merchant of an acquiring organization, such as a financial institution, Independent Sales Organization (ISO), Merchant Service Provider (MSP) or processor.
The password protected Authorize.Net Web site that allows merchants access to transaction information, management tools, and Authorize.Net account settings.
A company or sales organization that provides transaction processing solutions to its merchant clients.
See the entry for "Merchant Identification Number"
A flat monthly service fee charged by Authorize.Net in the event that a merchant's transaction processing fees for the month do not exceed the flat monthly fee amount. For example, if the merchant's Minimum Monthly Fee is $20.00, and the merchant's transaction processing fees (i.e., per-transaction fees and discount fees) for the month total $17.50, the payment gateway will charge the merchant a Minimum Monthly Fee of $2.50 to make up the difference. If the merchant's transaction processing fees for the month exceed $20.00, the fee is not charged.
See the entry for "Mail Order/Telephone Order (MOTO)"
See the entry for "Merchant Service Provider"
See the entry for "National Automated Clearing House Association (NACHA)"
NACHA is the national trade association that establishes the rules, standards, and procedures governing the exchange of ACH transactions between participating banks (Originating Depository Financial Institutions and Receiving Depository Financial Institutions).
See the entry for "Notification of Change"
A type of ACH return indicating that a customer's bank account does not have sufficient funds to cover a specific eCheck.Net® transaction.
Notification to a merchant from a customer's bank indicating that bank account information provided with a specific eCheck.Net® transaction was incorrect.
See the entry for "Not Sufficient Funds (NSF)"
See the entry for "Originating Depository Financial Institution (ODFI)"
A credit card interchange system that allows multiple card issuing financial institutions or banks to share a credit, debit or payment card brand.
A term used when referring to the clearing of ACH, or eCheck.Net®, transaction to describe the merchant's bank. The merchant's bank handles the submission of eCheck.Net® transactions received by the merchant to the ACH Network for clearing.
A term used when referring to the clearing of ACH, or eCheck.Net®, transactions to describe the person or corporate entity that has received authorization from a customer to refund or charge their bank account. For an eCheck.Net® transaction, the merchant is the "Originator".
A system of technologies and processes that allow merchants to electronically submit payment transactions to the payment processing networks (i.e., the Credit Card Interchange and the ACH Network). Payment gateways also provide merchants with transaction management, reporting, and billing services.
A set of comprehensive requirements for enhancing data security. It was developed by an oversight board known as the PCI Security Standards Council whose founders include all of the major credit card associations.
See the entry for "Personal Digital Assistant (PDA)"
A pocket-sized electronic device, similar in function to a personal computer, for storing and managing electronic information. In relationship to a payment gateway, PDAs enabled with a wireless data service may be used by merchants to submit payment transactions.
A unique number that is issued to an individual or organization by a financial organization or related service—or other type of service provider—for the purpose of authenticating user identity and granting secure access to accounts or information.
The flat fee charged to a merchant by the payment gateway for each transaction and batch settlement processed. The transaction types for which the per-transaction fee is charged are: charges, refunds, voids and declines.
See the entry for "Personal Identification Number (PIN)"
A term used in the payments industry that refers to the physical location where a payment transaction takes place. POS is also used to describe credit card payment acceptance systems that are designed for the place of sale, such as card swipe terminals.
A piece of electronic equipment that is used by a merchant to submit credit card payment information to the processing network. Like terminals, these devices are connected to the credit card processing network via dial-up telephone connection or Broadband. POS devices also include Personal Digital Assistants (PDAs), Smartphones, and wireless electronic devices capable of transmitting credit card payment information via wireless Broadband connection.
A POS device, system or software manufacturer or distributor that provides POS products or services to Card Present (retail and mobile) merchants.
See the entry for "Point of Sale (POS)"
See the entry for "Prearranged Payment and Deposit Entry (PPD)"
This eCheck.Net® transaction type is a charge or refund against a customer checking or savings account. PPD transactions may only be originated when payment and deposit terms between the merchant and the customer are prearranged, for example, with Automated Recurring Billing™ (ARB) transactions. For more information about eCheck.Net transaction types, see the eCheck.Net® Operating Procedures and User Guide.
A credit card transaction request to capture funds for a separate, previously authorized authorization-only transaction. With this type of transaction, the merchant will submit an authorization code that was received from the issuing bank at the time of the original authorization-only transaction.
An entity in the credit card processing network that handles the posting of transactions for authorization, clearing and settlement to consumer credit card accounts at the card associations, and the settlement of funds to merchant bank accounts. Processors may also provide merchants with billing and reporting services.
A term used when referring to the clearing of ACH, or eCheck.Net®, transactions to describe the person or corporate entity that has authorized a merchant to initiate a refund or charge transaction to their bank account. In an eCheck.Net® transaction, the customer is the "Receiver".
A term used when referring to the clearing of ACH, or eCheck.Net®, transactions to describe the customer's bank. The RDFI receives a request from the ACH Network to provide funds for the customer's eCheck.Net® transaction.
The submission of a transaction on a recurring or periodic basis, typically for an ongoing billing or subscription-based payment activities.
The transaction ID that links, or associates, a subsequent transaction to a separate, original transaction. In the case of refund transactions, a reference transaction ID must be entered to identify the original charge transaction against which the refund is being submitted.
A credit card transaction request to post funds from the merchant's bank account back to the customer's credit card account as a refund for a previous charge transaction. For this type of transaction, the merchant must submit the transaction ID of the original charge transaction against which the refund is being applied.
Part of the Reserve Requirements of the Depository Institutions Act as established by the Federal Reserve Board. Regulation D defines the types of deposits handled by financial institutions, or banks.
Part of the Electronic Funds Transfer Act as established by the Federal Reserve Board. Regulation E defines electronic funds transfers.
A Merchant Service Provider (MSP) or Independent Sales Organization (ISO) that acquires merchant customers for payment processing services.
A code provided to the merchant by the card issuing bank that indicates the results of a transaction request; and if declined, the reason why the transaction was rejected.
The business of selling merchandise or services to consumers. Authorize.Net uses this term to refer to merchants that operate in a storefront or physical location and accept Card Present payments—meaning that payment is physically presented to the merchant, and credit cards are "swiped" into a card reading device. Also called "Brick and Mortar".
An eCheck.Net® transaction that could not be completely processed for reasons such as NSF, invalid account number, account closed or other rejection reason(s) provided by the customer's bank. A chargeback is a type of return. Also see "Chargeback".
A reversed chargeback or refund transaction. This occurs when the merchant produces sufficient proof that disputes a chargeback or the customer rescinds the chargeback. Also see "Chargeback".
An account managed by Authorize.Net that holds a certain portion of a merchant's eCheck.Net® processing proceeds to cover potential costs incurred from high risk or chargedback transactions. A Risk Reserve may be required in order to use the eCheck.Net® service, depending on a merchant's risk profile. There are two types of Risk Reserves:
- Fixed – The reserve balance is established by either, (1) a receipt of a lump sum deposit from a merchant, or (2) withholding a portion of funds from each of the merchant's batch settlements.
- Rolling – The reserve balance is established by withholding a portion of funds from each batch settlement and is retained for a set period of time before being released to the merchant.
An Internet protocol that safeguards electronic communications between two or more computers. When transmissions are sent over an SSL connection, data is encrypted and cannot be modified in transit by other parties on the Internet.
Web sites that use SSL technology are indicated by an "https" in their Web address, and a lock icon at the bottom right of the browser window.
An Authorize.Net Payment Gateway Web site connection method that allows merchants to post transactions directly to the payment gateway's secure server and requires transaction-unique encryption for transaction authentication. SIM provides merchants with a hosted payment form (the Web page that collects the customer's payment information) and a hosted receipt page (the Web page that reports a summary of the transaction back to the customer).
For credit card transactions, settlement occurs at the completion of transaction processing between the involved financial institutions and processing entities, and funds for the credit card transaction have been successfully deposited into the merchant's bank account. For an eCheck.Net® transaction, settlement occurs when the payment gateway submits a request to the ACH Network on behalf of the merchant for the collection of bank account funds for a purchase.
The transaction amount sent to the credit card processor or the ACH Network for settlement. This is the amount that will be posted as a charge or refund against the specified method of payment, and for credit card transactions, may be less than or equal to the amount originally authorized for the transaction.
An Internet or software company that provides e-commerce tools and payment form solutions for merchant Web sites.
A cell phone enabled with wireless data service that may be used by merchants to submit payment transactions.
See the entry for "Secure Sockets Layer (SSL)"
A payment card, similar to a debit card, attached to a limited monetary value, held either in an account by a card issuer, or in an electronic chip embedded within the card. Gift credit cards are a type of stored-value card.
See the entry for "Telephone-Initiated Entry (TEL)"
This eCheck.Net® transaction type is a one-time charge against a customer checking or savings account. TEL transactions may only be originated when a business relationship between the merchant and the customer already exists; or if no relationship exists, only when the customer initiates the telephone call to the merchant. For more information about eCheck.Net transaction types, see the eCheck.Net® Operating Procedures and User Guide.
A piece of electronic hardware, or a device, that is used by a merchant to submit credit card payment information to the processing network. Terminals are connected to the credit card processing network via dial-up telephone connection or Broadband. Also see "POS Device".
An identification number assigned to each POS device by a merchant's processor. This number provides the processor with information about the device's configuration and capabilities.
An organization or business not directly associated or involved with transaction processing, or necessary for the exchange of a transaction between two parties, but that provides merchants with business enhancing services.
A hardware or software manufacturer or distributor that provides transaction-enhancing products or processing solutions to merchants.
See the entry for "Terminal Identification Number (TID)"
Refers to the payment information that is stored in the magnetic stripe of a credit, debit or stored-value card. Also known as Magnetic Stripe Data.
The exchange of information, goods or services in which all participating parties benefit. Specifically, the exchange of a consumer's payment or payment information for merchandise or services provided by an organization or business.
A unique identification value assigned to each transaction processed through the payment gateway. This ID may be used to search for or sort transactions.
A randomly-generated value issued to Authorize.Net merchants for the purpose of authenticating transaction requests to the payment gateway.
The type of credit card transaction taking place. For charge transactions, a consumer is allowing a merchant to collect payment for merchandise or services rendered. However, in the case of a refund transaction, a merchant is returning funds to the consumer for a previous charge transaction. For more information about credit card transaction types, see also "Authorization Only", "Authorization Capture", "Capture Only", "Prior Authorization Capture", "Refund", and "Void".
The process of evaluating a service applicant's financial history and credit trustworthiness to determine whether to grant a service account. In some cases, underwriting may also determine an applicant's financial obligations, such as services pricing.
An independent or other sales organization that provides merchants with various services and/or solutions for enhancing their business practices or transaction management.
A product or service that enhances a merchant's business practices or transaction management.
See the entry for "Value-Add Reseller (VAR)"
A security program created by Visa to provide identity authentication for cardholders and transaction protection for merchants. By registering for Verified by Visa, merchants can minimize the risk of chargebacks and returns while providing additional security for their Visa customers.
A secure, easy-to-use Authorize.Net solution that allows retail, or "brick and mortar" merchants, to manually submit transactions using a computer with Windows Internet Explorer, and a MagTek USB HID card reader.
A Merchant Interface tool for manually keying in and submitting transactions.
A program created by Visa stating its technology and sensitive data security requirements for merchants and merchant service providers. Compliance is required of its member institutions.
Transactions of this type are used to cancel original charge transactions that have not yet been submitted for batch settlement. For this type of transaction, the merchant must submit the transaction ID of the original charge transaction against which the Void is being submitted. No further action may be taken for Void transactions. To cancel a transaction that has already settled, a refund must be submitted.
See the entry for "Virtual Point-of-Sale (VPOS) Terminal"
See the entry for "Internet-Initiated Entry (WEB)"
An organization or business that provides the technology and infrastructure for hosting business or consumer Web sites and services.
A wireless service that allows merchants to transmit transaction information via their cell phone or other enabled wireless device.