Store and Forward refers to a feature that involves capturing the necessary transaction data and storing that data temporarily (usually in the event of an internet outage) until the data can be passed along to the processor once the internet service is restored.
Also known as a member bank, an issuing bank offers payment cards - such as debit or credit cards - on behalf of other financial institutions.
A financial payment term used to refer to the exchanging of funds between two or more entities, usually banks, credit card issuers and merchants.
Debit networks aren't a single entity but a combination, including payment terminals, debit card issuers and processors.
A term used to refer to financial transactions paid with credit cards.
A specification enhancement implemented in Visa credit cards that streamlines the purchase process for cards with EMV (Europay, MasterCard and Visa) technology.
A security service that transmits credit card information from a buyer to a seller so credit-based purchases can be processed.
Otherwise known as procurement cards or P-Cards, purchase cards are issued by employers that enable assigned staff to purchase products or services for the company's purposes.
Transaction fees are fees that a processor charges the merchant associated with each credit card transaction.
An acquiring bank (also known as the merchant bank, merchant account provider, or acquirer) is a bank that manages the merchant's account.
A PIN pad (PIN entry device) is a device used in a credit, debit or smart card-based transaction to accept and encrypt the cardholder's PIN data.
PCI-validated P2PE solutions secure transactions by encrypting all data within a PCI-approved point of entry device, preventing clear-text cardholder data from being available.
DirectE2EE refers to data that is encrypted at the point of interaction (POI) and decrypted outside of the Point of Sale environment (at the processor).
Offline Transaction Processing is a payment method that uses a debit card to transfer funds from a checking account to a merchant across a digital credit cardnetwork.
Masterpass is a digital wallet that allows you to check out faster by storing all of your payment and shipping information in one secure location.
The first six digits of your account number, otherwise known as the Bank Identification Number (BIN), determine how transactions are routed and identify your issuing bank.
With Google Pay, you can check out in Chrome for web purchases, in hundreds of apps, in YouTube for renewing your subscriptions, and at retail outlets with NFC payments without having to enter your payment information.
A merchant identification number, or MID, serves a similar purpose by providing business entities with a one-of-a-kind code that establishes they have the proper clearance to begin processing credit cards.
Typically eight characters in length, no two TINs are alike, as they must be unique to the terminal in question. TINs - also known as TIDs
Visa is a financial services firm that has been around since 1958. It's become so big, in fact, six of the seven continents have Visa cardholders, which explains why…