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Call for A Free Comparrison
or Fax Statement to:
918-254-0713
MERCHANT SERVICES, CREDIT CARD
PROCESSING, MERCHANT ACCOUNTS, AND CREDIT CARD MACHINES
AT GUARANTEED LOWEST PRICES
AT GUARANTEED LOWEST PRICES
Solutions by Card Presentation
Gift Cards
Value Added Services
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Related Links
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Questions?
Phone
1-800-266-9940
PCI Ped Compliancy
What is it?
| 3DES | Imprinter | |
| Address Verification Service (AVS) | Interchange | |
| Batch | Issurer | |
| Card Associations | Knucklebuster | |
| Card Holder | Merchant | |
| Charge Back | Merchant Account | |
| Check Conversion | Online Payment Gateway | |
| Check Guarantee | Point-of-Sale (POS) Terminal | |
| CVC2 | Qualified - Mid & Non | |
| CVV2 | Settlement | |
| Discount Rate | Shopping Cart | |
| DUKPT | Virtual Terminal | |
| Electronic Benefits Transfer (EBT) | ||
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| 3DES | ||
| A highly secure encryption system that encrypts data 3 times, using 3 64-bit keys, for an overall encryption key length of 192 bits. Also called triple DES. | ||
| Address Verification Service (AVS) | ||
| A service that verifies the cardholder's address, used primarily by mail/phone order merchants. AVS does not guarantee that a transaction is valid. | ||
| Batch | ||
| A group of accumulated transactions that have been captured, but not yet settled. Most merchants settle their batches at the end of each day. | ||
| Card Associations | ||
| Payment networks such as VISA® or MasterCard® (and others) that act as a gateways between acquirers and issuers for authorizing and funding transactions. | ||
| Card Holder | ||
| The owner of the credit or debit card that is being used to make a purchase. | ||
| Charge Back | ||
| A transaction that has been disputed by the cardholder or issuer, is sent back through interchange to the processor, and must be resolved by either the processor or the merchant. | ||
| Check Conversion | ||
| A check protection service by which a merchant scans a check image and converts it into an electronic transaction, similar to a PIN-based debit, for which the merchant is paid immediately. Check conversion requires a check imager peripheral. | ||
| Check Guarantee | ||
| A check protection service by which a merchant guarantees he or she will receive payment for a check, even in the event of insufficient funds. Check guarantee requires a check reader peripheral. | ||
| CVC2 | ||
| See CVV2. Card verification code 2 (CVC2) is MasterCard's term for this security code. | ||
| CVV2 | ||
| Card verification value 2. CVV2-a 3 digit code printed on the back of a Visa card-is an important security feature that protects Internet and phone transactions from fraud. CVV2 ensures that the credit card number is legitimate and that the card is in the possession of the purchaser. | ||
| Discount Rate | ||
| The amount charged to a merchant by the acquirer for processing the merchant's daily credit card transactions. | ||
| DUKPT | ||
| Derived Unique Key Per Transaction. An encryption technique for secure key-management that uses a unique key for each separate transaction to prevent the disclosure of any previously used key. | ||
| Electronic Benefits Transfer (EBT) | ||
| A government-funded cash assistance program that distributes payments such as Food Stamps and Temporary Assistance for Needy Families (TANF) on cards that can be swiped and used with POS terminals. | ||
| Imprinter | ||
| A manual device used to imprint embossed card information onto sales drafts for transaction records. An imprinter only captures card information; it cannot authorize a transaction. Imprinters are primarily used as a backup when the other processing equipment is unable to read data on the card's magnetic stripe. For merchants without an electronic printer, an imprint is needed to prove a card was present if a customer disputes a key-entered transaction. | ||
| Interchange | ||
| The process of authorization and settlement of card transactions through VISA or MasterCard. Interchange includes the transmittal of cardholder information, transaction data, and fees. | ||
| Issurer | ||
| The financial institution that issues a credit card to a cardholder. The issuer must be a licensed member of MasterCard or VISA. Also called the issuing bank. | ||
| Knucklebuster | ||
| See Imprinter | ||
| Merchant | ||
| A business that has contracted with an processor for card processing services and accepts credit cards as a method of payment for goods or services. | ||
| Merchant Account | ||
| The contract between a merchant and an acquiring bank for providing card processing services. | ||
| Online Payment Gateway | ||
| See Virtual Terminal | ||
| Point-of-sale (POS) Terminal | ||
| A device used to record and transmit card transactions electronically for authorization and processing. POS terminals can transmit information via a regular telephone line, broadband Internet connection, or wireless signal. Also called a credit card terminal. See www.creditcardterminal.com | ||
| Qualified - Mid & Non | ||
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| Settlement | ||
| The exchanging of data or funds between the acquirer and the issuer. Settlement includes funding the merchant for the transaction and paying any necessary fees due to the issuer or acquirer for processing the transaction. | ||
| Shopping Cart | ||
| A software application needed for e-commerce and online transaction processing. Shopping cart software collects the items a cardholder selects for purchase, maintains a running total, and may calculate taxes and shipping. | ||
| Virtual Terminal | ||
| An Internet-based portal used for processing card transactions. Brick-and-mortar merchants may use an online payment gateway to process card transactions online without a POS terminal or card processing software. Online merchants must have an online payment gateway to enable their business for ecommerce. Also called an online payment gateway. | ||
Harley Financial Services * 5616 S 122nd E Ave, Suite N * Tulsa, OK 74146
* 800-266-9940 * Fax: 918-254-0713
Merchant card processing is provided by First National
Bank of Omaha, Member Bank for Visa and MasterCard.
Harley Financial Services is a Registered Agent of RBS Citizens, N. A.,
Providence RI-
© 2010 Harley Financial Services -All Rights
reserved