| ABA Routing Number |
Also referred to as a Transit Routing Number. Directs electronic ACH Deposits to the proper bank institution. |
| Access Provider |
A Company that provides its customers a service whereby they access the Internet. The user normally connects to the access provider’s computer via a modem using a dial-up connection. |
| Account History |
The deposit processing history of a specific account over a period of time. |
| Account History |
The deposit processing history of a specific account over a period of time. |
| ACH |
The electronic funds transfer system controlled by the Federal Reserve. HPS pays merchants by depositing funds directly into a merchant’s bank account via ACH (Automated ClearingHouse). |
| ACH (Automated ClearingHouse) |
The electronic funds transfer system controlled by the Federal Reserve. Merchant’s funds are deposited directly into their business account via ACH. |
| ACH File |
A formatted file of merchant deposits which is submitted to the Federal Reserve Automated Clearing House. |
| Achieved Processing Volume |
The actual processing volume for a given merchant during a specified period. |
| ACK (Acknowledgement) |
An affirmative response transmitted by a receiver to the sender of a transaction authorization request. |
| Acquiring Bank |
Bank or financial institution that processes payment transactions for Issuing Banks’ cardholders. The Acquirer acquires all merchant bankcard deposits. |
| Ad Clicks |
Number of times users click on an ad banner. |
| Ad Views |
Number of times an ad banner is downloaded and presumably seen by visitors. If the same ad appears on multiple pages simultaneously, this statistic may understate the number of ad impressions, due to browser caching. |
| Address |
A unique identifier for a computer site online, usually a URL for a web site or marked with an @ for an e-mail address. Literally, it is how your computer finds a location on the information highway. |
| Address Verification |
Method whereby a 3rd party verifies ordering address matching predetermined criteria. Used primarily for Mail Order/Telephone Order sales for matching the cardholder’s name with their application address. |
| Affiliate Relationships |
Site offering partnerships to grow revenues exponentially. Site builds interface with linking to 3rd party for searching and store functionality. Host site shares revenue with partners based on category margin. |
| Anchor |
A word, phrase, or graphic image, in hypertext, it is the object that is highlighted, underlined, or “clickable” which links to another site. |
| Anonymous FTP |
An ftp server that downloads files by request to any user, not only those who have accounts. |
| Applet |
An application program written in Java which allows viewing of simple animation on web pages. |
| Arbitration |
A process by which the Card Associations determine whether an Issuing Bank or an Acquiring Bank has ultimate responsibility for a chargeback. |
| Archie |
Archie programs perform keyword searches of the directory and file titles of ftp servers. |
| Archive |
A backup copy of data designed to be kept long term-often for security and/or audit reasons. |
| Assessments |
Assessments are fees which both the Issuing and Acquiring Banks pay to the Card Associations as a condition of membership, and to administer the interchange program. |
| ASYNC |
Communications protocol (asynchronous). |
| ASYNC |
Communications protocol (asynchronous). |
| Authorization |
A transaction that requests approval to accept a credit card for a particular dollar amount. |
| Authorization Code |
A numeric code assigned by the Issuer and given to a specific sales transaction as verification that the sale has been authorized. |
| Avatar |
A digital representation of a user in a virtual reality site. |
| Average Ticket |
The average anticipated dollar amount a given consumer spends at a specific merchant’s place of business. |
| AVS (Address Verification System) |
An authorization process that matches the card holder’s name with their application address, specifically zip code. Used primarily for Internet and Mail Order/Telephone Order sales. |
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Back-End Processor |
A vendor that records merchant credit card transactions, processes interchange and chargebacks, produces monthly merchant statements and provides daily reporting for fraud control and accounting purposes. |
| Backend System |
All functionality that runs the operation of the store and related accounting systems. |
| Bandwidth |
How much information (text, images, video, sound) can be sent through a connection. |
| Bankcard |
A card issued by a financial institution and used for financial transactions. |
| Banknet |
A data transport facility that links all MasterCard customers and MasterCard data processing into one online network. |
| Banner Ad |
An ad on a web page that is usually “hot-linked” to the advertiser’s site or internally for messaging purposes. |
| BASE 1 |
VISA’s national authorization network. Credit card authorization requests are passed to the issuing bank through the BASE 1 network. MasterCard’s equivalent network is called INAS. |
| BASE II |
VISA’s settlement data transport network. After acquiring a merchant’s deposits, the acquiring bank sends the VISA transaction to BASE II. MasterCard’s Equivalent network is called INET. |
| Basis Point |
A basis point is 1% of 1% (example: 6.53% = 635 basis points). The basis point is often used to discuss the discount rate charged on transactions (example: 1.59% discount rate = 159 basis points. |
| Batch |
A session, or group of transactions for a specific time period, originating from a single POS terminal. |
| Batch File |
A batch file is a set of DOS commands contained within a single text file. If this text file has a file suffix of BAT then by entering the file name at the DOS prompt, the DOS commands will be executed one after the other. |
| Batch Release |
A host capture transaction initiated by the front-end processor or the merchant, which indicates that a batch of transactions is ready for settlement. |
| Batch Upload |
A terminal capture system transaction during which a POS terminal sends a batch of transactions to the front-end processor. |
| Baud |
A baud, or baud rate, is sometimes used as an indication of the number of bits a modem can send or receive per second, but actually it is a measurement of the number of times a carrier signal can change per second. |
| Beta |
Test site or test version. Beta is not the final version of a product or web site, but it’s close enough to show in public and for bug testing. |
| BIN (Bank Identification Number) |
A number used by routing transactions to the appropriate authorization service. |
| Bits |
The 0’s and the 1’s that make up the lowest common denominators of digital communications. They are the basis of all computer-driven functions and communications. One “bit” is the smallest possible unit of computer information. |
| Bookmark |
Hyperlinks in web browsers that enable the user to go directly to their favorite sites without having to remember long URL’s. |
| Bot |
Bot is short for “robot.” It is a program on an IRC-or undernet-system, which acts as a real person by accepting certain commands and responding. |
| Bounce |
The return of a piece of e-mail because it could not be delivered to the specified address. |
| BPS |
Bits per second, online bandwidth is measured in bps’s. |
| Browser |
Programs, which navigate the Internet, display web pages and other formats hyperlink between servers and sometimes performs e-mail and file transfer tasks. |
| Buy Rate |
The minimum discount rate given to a sales agent. |
| Bytes |
A binary word or unit meaning usually consisting of eight bits. |
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Cache |
Whenever a web page is visited, it downloads text and graphics information to the user’s computer in a storage file called a cache, that’s why the second time the user views a page it appears much more quickly. |
| Capture |
A procedure during which an electronic authorization is saved to a file and transmitted into interchange for posting to a cardholder’s account. |
| Card Associations |
The term “Card Associations” refers to VISA/MasterCard. |
| Card Issuer |
The financial institution or company that issues a credit card to a cardholder. |
| Card Reader |
(Or “terminal card reader”) The slot on the side of a merchant’s terminal that automatically reads the magnetic stripe on the back of a credit card or bankcard. |
| Cardholder |
A person who has been issued a financial transaction card. |
| Chargeback |
The procedure wherein a cardholder’s issuing bank electronically charges an interchange transaction back to the Acquirer in accordance to VISA/MasterCard regulations. Chargebacks often result from one of the following: no imprint, non-receipt of merchandise, expired card, no cardholder signature, MOTO unauthorized etc. |
| Chargeback Code |
A numeric code that identifies the specific reason for a chargeback. |
| Chargeback Form |
A standard form containing all information relating to a chargeback. |
| Chargeback Period |
The number of days, from the date a card transaction is processed, during which the Issuer can charge a transaction back to the Acquirer. This number will vary by transaction type. |
| Check Guarantee |
A merchant service that validates payment by personal or company check. This service guarantees that if the check is returned for insufficient funds, the merchant can collect payment (up to a specified amount) from the check Guarantee Company. |
| Check Guarantee Card |
Validates payment by personal check at merchant locations. The card guarantees that if the check is returned for insufficient funds, the merchant can collect payment (up to a specified amount) from the card issuer. |
| Check Truncation |
A system that allows a merchant to use electronic funds transfer without an actual check present. |
| Check Verification |
Check verification provides check authorization against a shared, negative file of bad check writers. |
| Clearing |
The accounting process wherein the Issuing and Acquiring banks exchange financial transaction information. Clearing facilitates posting of a cardholder’s account and reconciling a customer’s settlement position. |
| Clearview Systems |
Visanet product that allows you to display and view POS batch transaction data submitted by merchants. |
| Client |
As in client/server relationship. Online, the client is the requester of information from a main server terminal, and it can refer to you, your computer or the browser you are using. |
| Commerce Server |
Server that maintains all commerce functionality from transaction standpoint. |
| Commerce Solution |
Packaged set of tools which merchants/developers can use to build a web site. |
| Community |
Online destinations where individuals of like minds or interest gather. One may also find products and services directed at this special audience. |
| Converted Account |
A merchant that has switched processors. |
| Cookies |
Small morsels of information that are stored by the visitor’s browser on a computer’s hard drive. It allows a computer to recognize that the visitor has already been on the site and remembers if a customer left items in a shopping cart. |
| CPM |
CPM is the cost per thousand for a particular site. For example, a web site that charges $15,000 per banner and guarantees 600,000 impressions has a CPM of $25 ($15,000 divided by 600). |
| CPS |
A VISA interchange qualification category. |
| Cross Promotion |
Promotion of site via multiple platforms beyond the web, which might include print, TV, radio, etc. |
| CrossCheck |
A Company that provides check guarantee service. |
| Customer Profile |
Stored information about a customer including address and shopping preferences. |
| Customer Service |
Service that is provided by a merchant once the customer has placed an order including checking delivery, status, return and crediting of orders. |
| Customization |
Delivering an experience online that is targeted to prior activity, past purchases or believed likelihood to buy. |
| CVC |
Card Verification Code. |
| CVV |
Card Verification Value (VISA). |
| Cyberspace |
The space where all of the information available through computer networks is found. |
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Database |
A collection of data organized and designed for easy access. For example, a collection of customer names and addresses may form the content of a database. Particularly significant for search and find purposes. |
| DBA |
Doing Business As. The name under which a merchant conducts business |
| DDA |
(Demand Deposit Account) The account number at a merchant bank. |
| Debit Card |
A card that accesses funds on deposit (i.e., checking or savings) at the cardholder’s financial institution. |
| DES |
Data Encryption Standard |
| Dial-Up Terminal |
An authorization terminal that dials the authorization centers for transaction verification. |
| Discount Rate |
A quoted percentage fee taken out of each sale transaction by the merchant’s bank or processor to cover processing services. |
| Domain |
Main subdivision of Internet addresses the last three letters after the final dot. There are six top-level domains widely used in the US: .com (commercial), .edu (educational), .net (network operations), .gov (US government), .mil (US military) and .org (organization). |
| Domain Name |
Complete description of an Internet or web site-its full address-all the letters, dots, and marks that identify its location. For example, IBM’s domain name is www.ibm.com. |
| Download (full) |
The process of transmitting a new software program to a terminal. |
| Download (partial) |
The process of transmitting program data to a terminal while retaining any existing transaction data. |
| Drill Down |
A term used to express what a surfer does as he or she goes further into a web site-deeper into the back pages, deeper into data. |
| Drop Ship |
Product shipped directly from vendor or distributor, typically without merchant assuming inventory ownership. |
| DUKPT |
(Derived Unique Key Per Transaction) A POS pin-pad encryption method that uses a new key for each transaction. |
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