Payment Industry FAQs & Glossary Terms

Address Verification System (AVS)
Credit card information has been stolen since credit cards were invented.  But, now, with so many people making online purchases, credit card theft is more prevalent now than ever.

American Express CID
The American Express CID security consists of a four-digit number. CID stands for card identification number, and this number verifies that cardholder’s in fact have the card in their hands and are not just using a credit card number.

Batch Upload Gateway Processing
Some merchants do not process a very high volume, while others can process thousands of transactions each day, depending on the size of their business.

Card Not Present Transactions Requirements and Tips
The ease of making card-not-present transactions means that consumers and businesses have to monitor transactions to ensure that a thief is not making an illegal purchase.

Cardholder Data Security
Visa® and MasterCard were the first to create cardholder data security requirements which all merchants must come in compliance with.

Credit Card Swipe Machines
Virtual terminals are the basis of Internet businesses. It is important to let your customers know that you value and prize their security.

Digital Certificates
Digital certificates are also used to help authenticate information that is submitted to ensure the protection of one’s identity. 

Electronic Checks Online
Eliminate paper checks and turn your customer's paper checks into an electronic version of their real world check. The process is quick, easy and safer than taking paper checks.

Electronic Data Interchange
Electronic data interchange is when one computer shares information with another computer by electronic means.  It also refers to the exchange standards set up by those operating the computers.

Fraud & Chargebacks
A procedure whereby a card holder or the card holder’s bank disputes transactions to credit cards.

Identity Management and Access Control
IT managers are very worried about security today.  Whether in charge of a banking network or a university system, data security is of the utmost importance.

MasterCard SDP
DP Security, or Site Data Protection is one of the most important features for online merchants, credit card processors, and data storage entities.

Micropayments
Have you ever heard of micropayments? Micropayments are tiny amounts of money that are transferred rather than collected with traditional payment systems.

Offline Credit Card Processing Transactions
For many brick and mortar businesses, it’s customary to use a swipe terminal where customers can physically swipe their credit cards and perform a transaction.

Online Credit Card Payment Processing
Online credit card processing will enable your business to accept immediate payment through the Internet by means of a credit card.

Open Source Software
Many programmers often use open source software today. Open source software is computer software that other programmers can study, alter, and improve upon by viewing the source code.

Payment Gateways
Gateways enable customers to make online purchases using a payment method of their choice. In order to be able to process online payments in real time merchants need high speed, reliable gateways.

Point of Sale Terminals and Printers
These credit card terminals operate by having the customer swipe their card through the terminal’s magnetic reader.  The reader then transmits a signal to the cardholder’s issuing bank to check and see if they have the allotted funds to cover the transaction.

Real Time Credit Card Processing Transactions
For merchants who own an online or retail business, taking credit cards as payment has become the most common way to make money.

Recurring Billing Services
Increase on-time payments from your customers, simplify your bookkeeping and reduce collection headaches. Ideal payment method for short-term housing, condominiums, storage sites or child care centers.

Secure Electronic Payment Transactions
With the rapid growth of the Internet came online businesses.  But while these businesses had great potential, one downside was credit card fraud.

Secure Socket Layer (SSL)
SSL takes personal and private information like social security and credit card numbers, and encrypts them so that hackers and scam artists cannot easily access them.

Statement Fees & Transaction Fees
This fee is exactly what it sounds like, a fee that is charged to cover the cost of maintaining and sending all merchants a statement each month of their transactions and charges.

Virtual Terminals
You can save time by checking and verifying credit card payments from any computer with Internet access and a web browser from any location, 24 hours a day.

VISA® CISP
Visa® CISP security is vitally important to business owners who sell merchandise or services and accept Visa® credit cards.  There are many benefits of Visa® and one of them includes the Visa® CISP program.

VISA® Transaction Life Cycle
Cardholder presents a Visa® card to pay for purchases. For card-not-present transactions, the cardholder provides the merchant with the account number, expiration date, billing address and CVV2.