See “Card Laundering”.
The central banking system of the U.S., comprised of the Federal Reserve Board, the 12 Federal Reserve Banks, the Federal Open Market Committee, and the national and state member banks.
Fee assessed by the issuer on a cardholder’s ongoing balance, providing the financial institution with income.
Private label credit cards designed mainly for repairs, maintenance and fueling of business vehicles.
An amount of payment at which credit and debit card transactions must be authorized; this amount is specified in each merchant's processing agreement.
|Four Tier Pricing||
a pricing structure offering four distinct tiers - one qualified rate for credit cards, one qualified rate for check cards, a mid-qualified surcharge, and a non-qualified surcharge.
The process of identifying suspicious merchant and/or cardholder activity.
The front-end is responsible for collecting card information in various forms (terminal, gateway, software) and processing it to conform to a specification the back-end can use. The front-end is a kind of interface between the user and the back-end, which allows merchant to request authorization for transactions. Example: Global Payments utilizes the front end Global East, Global Central, and Vital front-end. First Data utilizes the Omaha, North, Nashville, Memphis/Stratus, and Atlanta/Buypass front-end.