Credit Card Processors

A specific variety of payment gateway services provider, credit card processors are companies that handle transactions that are made via plastic. Typically a third party, credit card processors are usually exclusive to credit-based purchase methods, although more firms are expanding their services to bring added options and convenience to customers.

Point of Sale Glossary

See below jargon for the point of sale industry.

Credit card fraud

Credit card fraud is an umbrella term that indicates a credit card has been used in an unauthorized fashion. Fraudulent actions as they pertain to credit cards may include theft of the credit card number or card itself, making false statements when applying for a credit card or assuming a the cardholder's identity. CNP fraud is another type, usually carried out through e-commerce, mail. Address verification service (AVS) can help reduce the risk of credit card fraud.

Loyalty Program

Loyalty programs are initiatives businesses frequently use that reward frequent customers for their patronage, while often incentivizing them to buy more. In order to make use of loyalty program benefits - which can include discounts, rebates, free products or exclusive offerings, among others - customers traditionally must sign up for them, supplying their contact information, such as their name, email, and mailing address.

There are several types of loyalty programs, with discounts being among the most common. For example, when customers purchase a predetermined amount of goods and services over a given period - usually a year - they may receive a certain percentage off with each purchase they make. Members of loyalty programs will frequently receive some form of identification that recognizes them as such, be it a number or a card. Grocery stores, toy merchandisers, pet supply companies, clothing retailers, restaurateurs, e-commerce organizations and coffee shops are among those that provide loyalty perks to their regularly returning customers.