100% Reserve Holding 100% of daily processing.  Merchant will not receive deposits.
ABA American Bankers Association - the trade association of American bankers. This body also has the registration authority to assign identification numbers.
ABA Routing Number  A unique nine-digit number assigned to each banking institution, used to identify the bank and direct ACH debits and credits. The ABA routing number is usually found at the bottom of a personal or business check.
ACH Automated Clearing House
Acquirer, Acquiring Bank A financial institution that is a member of Visa and/or MasterCard and maintains the merchant credit card processing relationship. The acquirer receives all transactions from the merchant to be distributed to the issuing banks.
ADC Account Data Compromise
Altered CardA card on which the original embossed or encoded information has been altered for fraudulent purposes.
American Express A company that specializes in the issuance of Travel and Entertainment (T&E) cards. American Express services the cards it issues, serving as its own transaction processor with its own processing network.
AMEX American Express
AO Additional Officer
API -Advanced Programming Interface - APIs allow users to program to a pre-constructed interface, instead of individually programming a device or piece of software.
App Application
Approval ResponseAn affirmative reply following a transaction authorization request.
Arbitration A procedure used by an acquirer on behalf of the merchant to resolve a chargeback-related dispute with a card issuer.
ARU Automated Response Unit
ASP Application Service Provider - an organization that hosts software applications on its own servers within its own facilities. Customers access the application via private lines or the Internet. Also called a "commercial service provider."
Association MasterCard International, Visa U.S.A. or Visa International, which are licensing regulatory agencies for bankcard activities.
ATM Automated Teller Machine - an unattended computer terminal that performs basic teller functions when a cardholder inserts a card into the ATM and enters the correct PIN. Typical functions include dispensing cash, accepting deposits and loan payments, and accepting account transfers and inquiries. Also used by credit cardholders for receiving cash advances.
ATM/Debit Card The plastic card used in an ATM for deposits, cash withdrawals, account transfers and other related functions. A PIN must be entered to withdraw cash and access account functions. An ATM card may also be used to make a debit purchase if the merchant has a PIN pad to accept the key entry.
Authorization The process by which a transaction is approved by the issuer, or by Visa/MasterCard on behalf of the issuer. Permission is given to (or denied) the merchant, via the acquirer, to accept a specific transaction from the cardholder account. An authorization indicates only that the card is valid and that sufficient funds are available on the cardholder's credit limit at the time the request is made.
Authorization Approval Code  The numerical code designated by the issuer, assigned to a sales transaction as verification that the sale is authorized.
Authorization Only (Auth Only) Used to reserve an amount against a credit card's available credit limit for intended purchases. Authorization Only is most frequently used in the lodging (check-in), restaurant (tab) and car rental (pick-up) industries, where an approval is received for an estimated amount prior to the finalization of the charge amount.
Authorization Request A merchant's request for an authorization to accept a cardholder's sales transaction. An authorization request can occur electronically via a credit card processing terminal or via telephone as a voice authorization.
Auto Representment Automatically sending information to resolve a chargeback on a merchant's behalf without the need for merchant intervention.
Automated Clearing House ACHgroup of processing institutions linked by a computer network to process electronic payment transactions between financial institutions.
Average Ticket The average dollar amount of sale for credit card transactions.
AVS Address Verification Service - a Visa/MasterCard service that verifies the cardholder's billing address against the one on file with the issuer. AVS is designed to help combat fraud in non-face-to-face transactions.
B2B Business to Business - refers to one business communicating with or selling to another.
Back-End Network The settlement provider responsible for finalizing transactions, routing payment to a merchant's account and generating statements.
Balance Sheet A financial statement that lists assets, liabilities and net worth as of a specific date.
Bankcard A card issued by a banking institution with a MasterCard or Visa brand.
Batch A group of approved credit card transactions, usually accumulated during one business day.
Batch Deposit The electronic depositing of a batch file transmitted to the transaction processor for settlement.
Batch Processing The authorization of transactions offline when immediate approval is not required. Transactions are collected in a batch and sent as one transmission for authorization and/or settlement. Batch processing is generally used with mail/telephone order transactions.
Baud Rate The speed at which a PC or terminal modem transmits data through the telephone line.
BBB Better Business Bureau
BF Business Financials
 BIN Bank Identification Number - a unique series of numbers assigned by Visa/MasterCard to a member institution, which identifies that institution in transaction processing. The BIN comprises the first six digits of a standard credit card number.
Bisynchronous Communication A communication method that transmits continuously with no start and stop between the information bytes.
BL Bank Letter
BRAM Business Risk Assessment and Mitigation
Browser A software application used to locate and display web pages.
BS Bank Statements
Business Card similar to the Corporate Card, but issued to a business with fewer employees. Each employee is responsible for his or her purchases.
Call Center An authorization request response displayed on the credit card terminal screen, generated by the issuer or through stand-in processing. The merchant must then call for a voice authorization. If an approval is given, the user must enter the approval code manually into the POS device as a "force" or "post-authorization."
Capture Receiving and storing transaction data at the processor's host computer, to be submitted later for processing and payment.
Card Present A type of transaction in which the card is present and is swiped through an electronic device that reads the contents of the magnetic stripe on the back of the card.
Card Reader Input device on a card terminal that translates the information stored on the magnetic stripe on the back of a card.
Cardholder The person to whom a payment card is issued, or an additional person authorized by the original cardholder to use the card.
Cardholder Account Number A sequence of numbers assigned specifically to a cardholder account that also identifies the issuer and type of payment card. The cardholder account number is the embossed number imprinted on the payment card.
Cardholder-Initiated Chargeback A chargeback that results when a cardholder contacts the card issuer and refuses to accept a charge appearing on a monthly billing statement. A cardholder has 90 days to initiate a chargeback.
Card-Not-Present A type of card transaction in which the card is not present at the point of sale for the magnetic stripe to be read. These are considered higher risk transactions.
Cash Advance A transaction in which a cardholder obtains cash in person at the branch of a member financial institution or ATM. This is the only method of receiving cash from a credit card that is approved by the bankcard associations.
CB Chargeback
CBG Chargeback Guardian (gateway)
CBMR Chargeback Maintenance Request
CBR Credit Bureau Report
CDPD Cellular Digital Packet Data - a method of sending data through cellular networks. CDPD is used with wireless credit card terminals to transmit transactions and deposits in mobile environments.
CFI Consumer Fraud Insight
Chargeback A challenge to a transaction initiated by the issuer or cardholder that is returned to the acquirer for resolution.
Chargeback Fee The amount assessed by the acquirer for processing chargebacks.
Chargeback Reason Code A numerical code which identifies the specific reason for a chargeback. MasterCard and Visa each have their own chargeback codes.
Check Card A bankcard that can be used with a PIN at an ATM or without a PIN at the point of sale, also known as an offline debit card. When used at the point of sale, the transaction is processed through interchange as a credit card transaction with the funds debited from the cardholder's checking account.
Check Digit Verification (MOD-10 check) A check digit is the last position of a card account number, generated from an algorithm performed on a primary card account number. Verification of this number is referred to as a MOD-10 check and is used to validate a credit card number.
Check Guarantee A service that guarantees check payment to a merchant up to a specified amount. However, merchants are required to perform correct authorization procedures.
Check Reader A device that reads the numbers encrypted on the bottom of most checks.
Check Verification A service that provides merchants with some security against bad checks. The person writing the check is matched against a national negative file database to flag outstanding or bad checks on record from other members of this service.
CID Card Identification Number/Card Identifier
Ciphertext The encrypted text of a message, which may be decrypted only by someone who has the correct key.
Close Sending a merchant's completed transactions to the host for processing. (See also "Settlement")
CMM Chargeback Monitored Merchant (MC)
Code 10 Authorization If the POS device reads "Lost or Stolen Card," or "Pick Up Card" or a similar message, the merchant should call the authorization center for a Code 10 Authorization. The operator will ask questions to determine if the transaction is valid.
Commercial Cards Formal name for the following three types of cards:
Common Terminology 
Compliance Compliance to the Visa and MasterCard regulatory bylaws.   
Corporate Card usually issued to the employees of a large corporation where the corporation assumes all liability for the card's usage.
Counterfeit Card A plastic card which has been fraudulently printed, embossed or encoded to appear to be a genuine bankcard, but which has not been issued by a Visa or MasterCard member. It could also be a card which was originally issued by a member, but was subsequently altered without the issuer's knowledge or consent.
CPS Custom Payment service
Credit A refund or price adjustment given for a previous purchase.
Credit Card A plastic card with a credit limit used to purchase goods and services and to obtain cash advances on credit. The cardholder is then billed by the issuer for repayment of the credit extended.
Credit Slip A form stating a refund or price adjustment will be credited to a cardholder account. Also referred to as a credit voucher or credit draft.
Cryptography The process of protecting information by transforming it into an unreadable format. The information is encrypted using a "key" that makes the data unreadable. It is later decrypted, making the information readable again.
CSP Commerce Service Provider - an organization that hosts commerce software applications on its own servers within its own facilities.
CVC Card Verification Code - MasterCard term for the three-digit code printed next to the card number in the signature panel and used as part of the authorization process.
CVC2 (CVC) Card Validation Code - MC term
CVV Card Verification Value - Visa term for the three-digit code printed next to the card number in the signature panel and used as part of the authorization process.
CVV2 (CVV) Card Verification Value - Visa term
DBA Doing Business As - the name a business uses to operate.
DC/IPDual Communication/Internet Protocol
DDADemand deposit account
DDADemand Deposit Account - a checking account.
Debit CardA bankcard used to purchase goods and services and to obtain cash, which debits the cardholder's personal checking account. During online debit transactions, the cardholder must enter a PIN.
Debit SwitchA portal that transmits debit data between gateway banks and debit card issuers - also referred to as "Debit Network." Only financial institutions may be members of debit switches.
DeclineA response from the card issuer denying the use of the card for the attempted transaction. If a request for approval is declined, the merchant must ask the cardholder for another form of payment.
Dial-Up TerminalAn authorization terminal that uses a telephone line to communicate with the authorization center.
DIDDevice Identification (IP)
Digital CertificateAn encrypted attachment to an electronic message, used for security purposes. The most common use of a digital certificate is to verify that a user sending a message is who he or she claims to be. The receiver is also provided with a way to encode a reply.
DIP SwitchesDual In-Line Package Switches - a series of connected switches that determine the proper configuration for a payment card terminal printer.
Direct ResponseTerm used to describe a merchant processing primarily non-face-to-face or card-not-present transactions.
Discount RateThe fees charged by the card acquirer to the merchant for processing payment card transactions.
DisplayThe backlit panel on a payment card device that shows characters on the screen.
DLDriver's license
DRDirect Response
DSSData Security Standard
DualityThe membership of a financial institution in both MasterCard and Visa associations.
DUKPTDerived Unique Key Per Transaction - a method of PIN pad encryption.
EBTElectronic Benefits Transfer - the automation of government benefits through electronic authorization, data capture and settlement processes. Plastic cards with magnetic stripes are used, eliminating paper benefits and coupon distribution.
ECA/ECPElectronic Check Acceptance/ Electronic Check Processing - process that converts a paper check into an electronic check at the point of sale. The check is electronically processed through the ACH network.
ECMExcessive Chargeback Merchant (MC term)
E-CommerceElectronic Commerce - the sale and purchase of goods or services over the Internet.
ECPExcessive Chargeback Program (MC term)
ECRElectronic Cash Register - a cash register that also emulates a point-of-sale terminal for processing credit card transactions.
EDCElectronic Draft Capture - the use of a point-of-sale device to authorize and settle credit card transactions.
EFTElectronic Funds Transfer - an electronic system that automatically moves funds, e.g., an ATM withdrawal or pay-by-phone transaction.
EIRFElectronic Interchange reimbursement fee
EncryptionMethod of scrambling data to protect a cardholder's personal information.
EntitlementLicense or permission to accept a particular type of payment card or other payment vehicle.
EPNElectronic Processing Network (gateway)
EPROMErasable Programmable Read Only Memory - industry-initiated standards used to identify terminal types and components.
ETFEarly termination fee
Exceeded TimelinessA transaction that is deposited too late to qualify for the best interchange rate.
Expiration DateThe embossed date on a bankcard. After that date, the card becomes invalid and should no longer be accepted.
FactoringWhen a legitimate merchant processes another merchant's transactions in return for payment. This practice is forbidden by the associations.
FDMSFirst Data Merchant Services (Debit)
FDRFirst Data Resources
Financial InstitutionAny organization in the business of moving, investing or lending money, dealing in financial instruments, or providing financial services. This includes commercial banks, thrifts, federal and state savings banks, saving and loan associations, and credit unions.
Fleet CardPayment card designed mainly for fueling, maintenance and repairs of corporate motor vehicles. Fleet cards are normally used to provide specialized reporting.
FolioA number assigned by a lodging merchant for tracking a guest's charges.
ForceThe process by which a voice-authorized transaction is key-entered to be settled electronically with a batch of transactions. Also known as a post-auth.
FPOFlexible Payment Options - a product that allows merchants to design flexible payment plans to increase incremental sales.
Frame RelayA TCP/IP link for data that has high transmission speeds, low network delay,high connectivity and efficient bandwidth use.
Fraud InvestigationThe process of identifying suspicious merchant or cardholder activity.
Front-End NetworkNetwork provider responsible for authorizing and capturing transactions and forwarding the information to the back-end network.
FTPFile Transfer Protocol - a protocol used to transfer files over a TCP/IP network (Internet, UNIX, etc.).
GAAGlobal Access Advantage
GatewayManages the electronic connection between consumers and their financial institutions and transmits data.
Gift CardA reusable, stored-value card that enables merchants to have an electronic alternative to paper gift certificates.
GMAPGlobal Merchant Audit Program (MC)
Good FaithAn attempt by a card association member to resolve a dispute with another member in writing. A good-faith attempt at resolution must be made before filing a compliance case.
Hard DeclineA declined authorization attempt resulting from a lost or stolen card, pick-up card, etc. A Code 10 call should be made by the merchant to the authorization center.
HCSHost Capture System - a transaction is transmitted with an authorization request to the host computer at the front end, the information is captured at the host, then sent back to the POS device. Since the information is already stored at the host, it can be settled without the merchant performing a settlement function.
HologramA laser-created photograph that uses a three-dimensional image that is difficult to duplicate. Used as an anti-counterfeiting measure on many payment cards.
Health Savings Account (HSA)This is a health card that can be used for medical purposses.  A merchatn will have to be signed up with the SIG-IS (Special Interest Group for IIAS Standards) in order to accept the card.  They can register at www.sig-is.org
ID/AVIdentification/Address Verification
Idle PromptThe standard display on a payment card terminal waiting to process the next transaction.
ImprinterA device used to imprint embossed card information onto a sales draft for payment card transactions. An imprinter is used if the card is present and the POS device cannot read the contents of the magnetic stripe.
InterchangeThe exchange of transaction data between acquiring and issuing institutions.
Interchange FeesFees paid by the acquirer to the issuer to compensate for transaction-related costs. MasterCard and Visa establish interchange fee rates.
ISDNIntegrated Services Digital Network - a digital phone service link capable of supporting up to three types of communication devices simultaneously.
ISOIndependent Sales Organization
ISPInternet Service Provider - an organization that provides access to the Internet.
Issuer, Issuing BankThe financial institution and member of Visa or MasterCard that holds contractual agreements with, and issues cards to, cardholders.
JCBJapanese Credit Bureau
Leased LineA dedicated telecom connection with either point-to-point or multi-point configuration.
Level I DataLevel I purchasing card data includes the same information captured during a traditional credit card purchase transaction. This includes: total purchase amount, date, merchant category code and supplier/retailer name.
Level II DataLevel II purchasing card data includes the same information captured at Level I, plus the following: sales tax amount, customer's accounting code, merchant's tax ID number, applicable minority- and women-owned business status, and sales outlet zip code.
Level III DataLevel III purchasing card data includes the same information captured at Levels I and II, plus the following: quantities, product codes, product descriptions, ship to zip, freight amount, duty amount, order/ticket number, unit of measure, extended item amount, discount indicator, discount amount, net/gross indicator, tax rate applied, tax type applied, debit or credit indicator, and alternate tax identifier.
Line of CreditThe amount of credit a lender will extend to a borrower over a specified period of time.
LockboxA service that processes payments by check and credits the appropriate business.
Magnetic StripeA panel located on the back of a payment card containing magnetically encoded cardholder account information.
Magnetic Stripe ReaderA point-of-sale device that reads the encoded information from the magnetic stripe when the card is passed through the reader. Readers may read Track Two, which contains the cardholder account number and expiration date, or both Track Two and Track One, which contains the cardholder name.
MasterCard International IncorporatedA member-owned international bankcard association, governed by a board of directors, which licenses members to issue cards or accept merchant drafts under the MasterCard Program. MasterCard owns and operates its own international processing network.
MATCHMember Alert to Control High Risk (aka TMF)
MBWEMasterCard Business World Elite Card
MCBSMasterCard Business
MCBWMasterCard World Business Card
MCCMerchant Category Code
MCCMerchant Category Code - a universal four-digit merchant classification code that identifies the merchant by type of processing, authorization and settlement. Similar to a Standard Industrial Classification (SIC), but more defined.
MCMPMasterCard Chargeback Monitoring Program
MediaThe documentation of monetary transactions (i.e., sales drafts, credit slips, computer printouts, etc.).
Media Retrieval RequestsMedia retrieval is the process of obtaining paper documents from a centralized location. There are two types of media retrieval requests: 1) requests for sales records from cardholders, and 2) requests for documentation in defense of a chargeback from card issuers.
MemberA financial institution that is a member of Visa and/or MasterCard. A member is licensed to issue cards to cardholders (issuer) and/or accepts merchant drafts (acquirer).
MerchantStore owner or seller of products.
Merchant AgreementThe written contract between the merchant and acquirer that details their respective rights, responsibilities and warranties.
Merchant BankSee Acquirer.
Merchant DiscountThe fee an acquiring member charges the merchant to cover the costs of providing deposit credit and handling credit card sales transactions. See Discount Rate.
MICR NumberMagnetic Ink Character Recognition - the bank routing and transit, checking account number and check number encoded at the bottom of a check that can be used to authorize the check.
MIDMerchant Identification
MIDMerchant IDentification Number - The identification number assigned to a merchant by the acquirer.
MMMonthly Minimum
MOPMethod Of Payment - the way a merchant chooses to accept payment for products or services. Examples include: MasterCard, Visa, American Express, Discover, Carte Blanche, Diners Club, JCB, Electronic Check and private label cards.
MOTOMail Order/Telephone Order
MPAMerchant Processing agreement
MQMid-qualified discount rate
NBCALNational Bank of California
NetworkAn entire system of communication hardware and software used to transfer electronic information during the authorization and settlement process.
NMINetwork Merchants Inc (gateway)
Non Face-to-Face TransactionAny transaction in which the card is not presented, such as a phone, mail or Internet purchase. See Card-Not-Present.
No-ShowA charge to a cardholder account by a lodging merchant if the person either fails to arrive or fails to cancel the guaranteed reservation.
NQNon-qualified discount rate
OFACOffice of Foreign Asset Control
Offline DebitDebit transaction that occurs when a Visa/MasterCard check card is authorized through the credit card system and the amount is debited from the cardholder's checking (DDA) account.
Offline TransactionA transaction that is authorized through a voice authorization and later keyed into a POS terminal prior to settlement.
OK NumberA validation number from the host computer confirming a successful batch deposit.
Online TransactionA transaction that is authorized electronically from the front-end network.
pBRAMPotential BRAM Violation
PBX Access CodeAn access number that is dialed to reach an outside line.
PCIPayment Card Industry
PCI DSSPayment Card Industry Data Security Standards
PGPersonal Guarantee/Guarantor
Pick Up CardAn issuer's electronic response to an authorization request, asking that the card be retained by the merchant and returned to the issuer.
PINPersonal Identification Number
PINPersonal Identification Number - a numeric code used as verification to complete a transaction via a payment card. The number is entered into a keypad and is encrypted to travel along with the authorization.
POBProof of Business
POSPoint Of Sale - the location at which a payment card transaction occurs, usually by way of a device such as a credit card terminal or cash register.
POS TerminalA terminal at the point of sale, connected via telecommunication lines to a central computer. Authorization, recording and transmission of electronic transactions are performed through the terminal.
PostingThe process of recording debits and credits to an account.
PPSPrior processing statements
PrenoteIn the electronic check-processing environment, a non-dollar transaction sent through the ACH network for the purpose of verifying the accuracy of the cardholder's account data.
Private Label CardA card issued by a merchant that can only be used in the issuing merchant's business. An example would be a department store credit card.
Processing FeesThe fees associated with the processing of credit card transactions.
ProcessorA company responsible for processing interchange transactions - operated by an acquirer or acting on the acquirer's behalf.
ProtocolA set of rules that allow data communications to work.
Purchasing CardA payment card used by companies to replace paper invoices.
Purchasing Cardissued to corporations. It allows the corporation numerous parameters to control daily and monthly spending limits, total credit limits and where the card may be used. Many employees may be issued the same card number.
QualQualified discount rate
RAMRandom Access Memory - short-term memory for a computer or payment card terminal.
Reason CodeA two-digit code identifying the reason a chargeback was initiated.
Re-authorization (re-auth, add auth)To request an additional amount to be authorized on an existing transaction. Used in the lodging industry when the original authorization is not sufficient to cover the charges.
Recurring TransactionA transaction charged to a cardholder's account (with prior permission) on a periodic basis for recurring goods and services, i.e., health club memberships.
ReferralThe message received from an issuing bank when an attempt for authorization requires a call to the Voice Authorization Center.
RefundA refund occurs when the merchant rebates all, or a portion, of an original transaction amount to the cardholder. Refunds are made to the same card that was used for the original transaction. Similar to a Credit.
RepresentmentAn attempt to reverse a chargeback initiated by a merchant or acquirer to the issuing bank that presented the chargeback, backed by supporting documentation.
Retail TransactionA face-to-face transaction in which the cardholder presents a card to the merchant to pay for goods or services.
Retrieval RequestA request by the issuer to the acquirer for a copy of the original sales ticket.
Retro-TMFTMF or MATCH listing received after a merchant has been approved
ReversalWhen an acquirer successfully represents a chargeback to the issuer, the chargeback is reversed and the funds are returned to the merchant.
RISRisk Identification Service (Visa)
RMReceived Message
ROMRead-Only Memory - memory and information that cannot be changed.
RS232The standard port on POS equipment to support a traditional phone line.
Sales Transaction FeeThe amount the financial institution charges a merchant for each sales transaction.
SAQSelf Assessment questionnaire - specifically for PCI compliance
SARSuspicious Activity Report
SDKSoftware Development Kit - a "kit" that is built to help a developer incorporate software into another program or system.
SettlementThe process in which a merchant transmits batches of transactions to the acquirer. In interchange, it is the process by which acquirers and issuers exchange financial data resulting from sales transactions, cash advances, merchandise credits, etc.
SICStandard Industrial Code - a universal four-digit code that designates a merchant's industry type. Similar to an MCC code.
SIC CodeStandard Industrial classification
Smart CardA payment card with a built-in microprocessor (chip) that stores information. Smart cards can be used for stored-value cards, credit cards, loyalty programs and security access.
Soft DeclineA declined authorization attempt that does not necessarily mean the card is bad (i.e., call referral, issuer unavailable or cardholder over limit). These transactions may be resubmitted a day or two later in an attempt to obtain a valid authorization.
Split DialThe capability of a card terminal to dial different telephone numbers to obtain an authorization or settlement of different card types.
SSNSocial Security Number
Stored Value CardA stored value card is used by a merchant to issue spending credit to their customers. The merchant's customers are given a magnetic stripe card in exchange for money received, merchandise returned or other considerations. The card represents a dollar value that the merchant's customer can either use or give to another individual. There is no security associated with the card itself. The actual record of the balance on the card is maintained on a stored value card database.
SubmissionA file sent by the merchant that contains one or more transactions.
Summary AdjustmentA correction to a deposit, made by the acquirer, when there is an error in the submitted deposit.
SynchronousCommunication method that transmits continuously with no stops and start bytes between information bytes.
T&E MerchantAn airline, car rental company or lodging establishment with a primary function of providing travel-related services.
TCSTerminal capture system
TCSTerminal Capture System - the process in which transactions are stored in the terminal until the batch is settled to the host. Most often used in restaurant applications where tip adjustments need to be made.
TDESTriple Data Encryption Standard (debit)
TelemarketingSelling goods or services over the phone, for payment by credit card.
TIDTerminal identification (equip)
TIDTerminal Identification Number - number identifying a merchant to the front-end network.
TINTax Identification Number
TMFTerminated Merchant File (TMF)
Track OneTrack One information, stored on the magnetic stripe on the back of a card, has the cardholder's name in addition to the account number and expiration date stored in it.
Track TwoTrack Two information, stored on the magnetic stripe on the back of a card, has the account number and expiration date.
TransactionAny action between a cardholder and a merchant or member that results in activity on the account, such as a purchase, cash advance or credit.
Transaction DateThe actual date on which a transaction occurs.
Transaction FeeThe amount a merchant pays per transaction for processing
TROTemporary Restraining Order
URUnder Review
URLUniform Resource Locator (website address)
Valid DateThe date embossed on a payment card stating when the card may first be used.
VARValue Added Reseller
VARValue Added Reseller - a third-party that certifies their software to be used on a processor's system
VCVoided Check
VDBTVisa Debit
Visa USAA member-owned national bankcard association, governed by a board of directors, which licenses members to issue cards and accept merchant drafts under the Visa Program. MasterCard owns and operates its own international processing network.
VMVoice mail
Voice AuthorizationTransactions authorized by a voice operator. Voice-approved transactions must be "forced" into a terminal batch for settlement.
WEXWright Express
Zero Floor LimitRequires that all transactions receive authorization.