Also referred to as a Transit Routing Number; directs electronic ACH deposits to the proper bank institution.

Fees associated with using the secure server (such as Authorize.Net) to approve and process transactions. Depending on arrangements with the payment gateway processor, a credit card merchant account may also be charged gateway processing fees as a separate line item or as part of the monthly processing fee.

The payment and transaction history of an account over a specified period of time, including the number of times the account was past due or over the credit limit.

A financial institution that maintains the merchant credit card processing relationship and receives all transactions from the merchant to be distributed to the Cardmember Banks.

see “Acquirer”

Optional service that helps protect against fraud by verifying the identity of the person claiming to own the credit card. The system will check the billing address of the credit card provided by the user with the address on file at the credit card company. AVS does not guarantee that a transaction is valid.

A Visa, MasterCard, Discover or American Express card bearing the trade name or mark of an affinity partner, issued through marketing alliances, an organization, or a collective group (such as a professional association or special interest group). The affinity partner’s name and logo are shown on the card, and the partner then solicits its membership or group for special rewards and promotions. Popular with sporting teams and university alumni groups, affinity cards work like regular credit/debit/prepaid cards and can be used anywhere that the brand is accepted. The card issuer often pays the affinity organization a royalty on charge transactions.

Individuals who sell bankcard services to merchants on behalf of ISOs, acquirers and processors. Also known as merchant level salespeople (MLSs) and independent sales agents (ISAs), most agents are independent contractors. Others are paid employees of ISOs, acquirers and processors. (The Greens Sheet)

Also referred to as AMEX, a diversified worldwide travel, financial, and network Services Company founded in 1850. American Express issues credit, prepaid and charge cards that support a broad base of clients and the needs of both consumers and businesses. All American Express cards begin with “3.”

The procedure an Acquirer may use to resolve a complaint with a Card Issuer on behalf of the establishment.

licensing regulatory agencies for bankcard activities which include MasterCard International, Visa U.S.A., or Visa

Cards issued to customers who open a checking or savings account at a financial institution to allow them access to their accounts 24 hours a day, 7 days a week, using the ATM. A true ATM card has no MasterCard or Visa logo on it. An ATM card allows you to withdraw cash from checking and savings accounts, deposit to checking and savings accounts, obtain balance information on accounts, transfer funds from one account to another, and make purchases at retail outlets displaying the same regional, national or point-of-sale network logo(s) that are on the ATM card.

A number issued to a participating merchant by the Authorization Center that confirms the approval for a transaction.

to ensure that a credit card has a limit high enough to allow a transaction, transactions are created to reserve an amount against a credit card's available limit for intended purchases; an authorization only transaction is intended for a merchant's protection, to ensure that the credit card has a limit high enough to allow a transaction.

electronic payment networks most commonly associated with payroll direct deposit and recurring payments and is the network most commonly used to settle merchant card accounts. ACH is also the most common way North American Bancard makes and collects payment to and from our sales Partners. Those not participating in the ACH option will be paid by check and need to make alternate payment arrangements for funds due to North American Bancard.

An unattended computer terminal that performs basic teller functions: dispensing cash, accepting deposits, cashing checks, accepting loan payments, and enabling a bank customer to order transfers among accounts and make account inquiries. Barclay’s Bank in the United Kingdom deployed the first ATM as a cash dispenser in June 1967. Chemical Bank deployed the first U.S. ATM in 1969 at its branch in Rockville Centre, N.Y. Some machines have more functions and also sell products such as postage stamps, while others are limited-function cash dispensers only. Recently ATMs have been used to image checks thereby automating the check deposit process as well as dispensing prepaid/gift cards.

see “Address Verification Service”