Category: Credit card terminology

Payment terminal

A payment terminal , Also Known As a point of sale terminal , credit card terminal , EFTPOS terminal (gold PDQ terminal in the United Kingdom), is a device qui interfaces with payment cards to make electronic funds transfers ….

Chargeback fraud

Chargeback fraud , Also Known As friendly fraud , OCCURS When a consumer Makes an online shopping purchase With Their own credit card , And Then requests a chargeback from the issuing bank after-receiving send you purchased the goods or services. Once approved, the chargeback cancels the financial transaction , and the consumer receives a refund of the money they spent. When a chargeback occurs, the merchant is accountable, regardless…

Credit limit

A credit limit is the maximum amount of credit That a financial institution or other lender will extend to a debtor for a Particular line of credit (sometimes called Expired on credit line, line of credit, gold TRADELINE). For example, it ‘s the one that’ s the credit card company….

Cash advance

A cash advance is a Service provided by MOST credit card and charge card issuers. The service allows cardholders to withdraw cash , either through ATM or over the counter at a bank or other financial agency, up to a certain limit. For a credit card, this will be the credit limit (or some percentage of it)….

Card Transaction Data

Card transaction data is a financial transaction of a bank. [1] It consists of the use of either a debit card or a credit card to generate data for the. Transaction data Describes year Action Composed of events in qui master dataParticipates. Transaction focuses on the price, discount and method of payment interaction between the customer and the organization. [2] They are based on volatility…

Card security code

A card security code ( CSC ; Also called card verification data [ CVD ] or a card verification number , card verification value [ CVV ] Card Verification Value code , card verification code [ CAC ], verification code [ V-code or V code ] , card verification code , [1] or signing code panel [ SPC ] [2] ) is a security feature for ” card not present “Payment card transactions to reduce the incidence of credit card fraud ….

Card not present transaction

A card not present transaction (CNP, MO / TO, MOTOEC) is a payment card transaction made where the cardholder does not physically present the card for a merchant’s And payment, whether by mail or fax , or over the telephone or Internet ….

Card enclosure

A card enclosure is a container for smart cards , credit cards , debit cards , telephone cards , visiting cards , business cards and other cards of similar size. ID-1 format of the ISO / IEC 7810 standard. The size of the physical dimensions is 85.60 × 53.98 mm. The enclosures can be made of metal, leather, or plastic and come in various colors and designs. Sometimes having a laser engraved design for aesthetic purposes….

Billing descriptor

Billing descriptor is a company’s name. It appears on a credit card and is set up when the merchant account is established. It is used by the credit card….