Glossary
E
| Term | Definition |
|---|---|
| E-Check |
Type of electronic transactions that debit a checking account. |
| Early Termination Fee (ETF) |
A fee charged for the termination of the merchant account prior to the contract end date. |
| EFT |
See “Electronic Funds Transferring”. |
| Electronic Benefits Transfer (EBT) |
The delivery of annuity and public assistance benefits through the application of plastic card technology. |
| Electronic Data Interchange (EDI) |
A computerized system that allows linked computers to conduct business transactions through a computer-to-computer exchange of standard business data according to agreed-upon data formats. |
| Electroning Funds Transfering (EFT) |
A way of performing financial transactions electronically. The Pulse and Star networks are examples of EFT systems. |
| Encryption |
A security technique in which machine-readable data can be scrambled and must be decoded before it can be processed. |
| Entitlements |
Also known as card types. The credit card processing services provided to an establishment. |
| ESN (electronic serial number) |
a permanent identification number used to recognize mobile devices. |
| Ethernet Processing |
to process over an IP based system. |
| Exceeded Timeliness |
Transaction was deposited late. The authorization date, compared to the processing date, exceeded the time frame allowed for the interchange level for which the merchant is priced. |
| Expiration Date |
The date embossed on the credit card beyond which the card is not acceptable by the establishment at the point-of-sale. |
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