| RA Number |
Return Authorization number required by merchant to return product. |
| Real Time Credit Card Processing |
Online batching and processing of credit card delivering authorization. |
| Real Time Inventory |
Acknowledgement to shopper of product availability while shopping. |
| Recommendation Engine |
Technology that utilizes algorithms to predict customer behavior for the purposes of delivering dynamically generated content or services. |
| Recurring Transaction |
A transaction that is charged on a recurring basis to the cardholder for goods and services (i.e., health club, ISP). |
| Representment |
The process of providing data to reverse a chargeback to the Issuer. |
| Retail Rate |
Interchange rate assigned to retail merchants. |
| Retrieval |
A request made by a cardholder’s Issuing Bank for a copy of a specific sales draft. |
| Retrieval Notice |
A form sent from the Issuing Bank to the Merchant’s acquiring Bank requesting a copy of the sales draft for a sale transaction. If a legible copy of the sales draft is not returned within a specified number of days, a chargeback will occur. |
| RFP |
Request for Proposal utilized to secure outside services. |
| Rich Media Ads |
Not really a type of ad as much as a description of how the ads are designed. “Rich media” refers to ads that move, talk, beep, or flash. Banner ads, pop-up ads and transactional ads can all be considered rich media advertising. |
| Risk Scoring |
A point scoring system used to evaluate a merchant’s potential risk and approval. |
| Router |
The hardware-or software-that handles connections between networks online. In other words, it tells your computer where to go. |
| Run Rate |
The annual processing volume (or revenue) of installed and/or revenue producing merchants. |
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Sales Draft |
The paper form, either electronically or manually imprinted, documenting a sale transaction and requiring a cardholder signature. |
| S-C-A-N |
Shared Check Authorization Network. Check verification service. SCAN charges the merchant a “per item” fee to determine if the check writer has unpaid checks with other SCAN merchants. |
| Search Engine |
Online directory utilized by visitors to locate information, sites, and a host of services. |
| Server |
Servers are the backbone of the Internet, the computers that are linked by communications lines and “serve up” information in the form of text, graphics and multimedia to online computers that request data. When a server “goes down” it loses its online link and the information it holds can not be accessed. |
| Set Up Fee |
A fee paid by a merchant that usually includes the following: merchant application processing, terminal programming, installation and host computer set-up. |
| Settlement |
Settlement is the exchange of actual funds and associated fees, between the parties involved in a sale transaction. |
| Shopping Bot |
Spiders that search the web for queried products or services seeking the best price available. |
| Shopping Cart |
The technology that allows one to shop and store product in a cart for subsequent checkout which would include completing shipping and receiving information and credit card payment information. |
| SIC Code |
(also called MCC Code) A numeric merchant classification code that identifies a merchant based on the type of business they conduct and the transactions they process. |
| Smart Card |
A card that looks similar to a credit card but contains a microprocessor which can perform calculations and/or store data. Smart cards are commonly used for storing financial and security records and prepaid transactions. |
| SPAM |
The act of solicitation via e-mail; this is usually done in mass quantities to promote a product. |
| Spider |
A term used to describe search engines such as Yahoo and Alta Vista because of the way they cruise all over the world wide web to find information. It is a software program, which combs the web for new sites and updated information on old ones. |
| Splash Page |
Splash pages are replacing many home pages-particularly on sites more involved with news and publishing-as gateways into web content. They start with bigger “splash,” more graphics and timely information, and change often (i.e.: cover of a magazine). |
| Surfing |
The practice of hyperlinking from web site to site with no real goal; simply for the interactive, informational fun of it. |
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TCL |
Terminal Control Language. A POS terminal programming language. |
| Test Card |
A non-live credit card used to test merchant equipment |
| Third Party Processor |
An institution or company contracted by a member of VISA/MasterCard to perform authorization, processing and merchant services. |
| TID |
Terminal Identification Number issued by the front-end processor to identify merchant’s terminal. |
| TMF |
Terminated Merchant File. A merchant database maintained by MasterCard for all merchants terminated by their merchant bank. |
| Touch Tone Capture |
A product that allows merchants to use a telephone to authorize and capture a credit card transaction. |
| TR# |
Transit Routing Number. An assigned number that identifies which bank houses a specific merchant’s checking account. |
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URL |
Uniform Resource Location is the unique identifier, or address, of a web page on the Internet. It is how web pages, ftp’s, gophers, newsgroups and even some e-mail boxes are located. |
| Usenet |
Also referred to as newsgroups, consist of messages posted on electronic bulletin boards. |
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VAP |
VISA Access Point. A communications interface between the processor and VISA. |
| Vendor |
Organization from which merchant secures product. |
| Virus |
Programs that can be downloaded onto one’s computer or network from the Internet. Some are harmless, others are programmed to destroy the entire system, trash all files and disable the software. |
| Vital (Total Systems) |
A back-end processing network that enters credit card transactions, processes interchange and chargebacks, produces monthly merchant statements and provides daily reporting for fraud control and accounting purposes. |
| Voice Authorization |
A direct phone call (placed by the merchant) to a designated number to obtain credit approval from the card Issuer. |
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Web Site |
A collection of linked world wide web (www) pages, usually housed on the same server and entered through a home page. Individuals can have single-page sites, and some corporations have sites numbering into the tens of thousands of pages. |
| Webmaster |
The individual assigned to administering a corporation’s or organization’s web site. This person lays out the information trees, designs the look and feel, codes HTML pages, handles editing and additions, and checks that links are intact. |
| Wish List |
Registry type functionality that allows site visitors to select products they would be interested in receiving from other gift givers. |
| WWW |
World Wide Web is the Internet facility that allows the user to browse linked web pages. |
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Zero Floor Limit |
A floor limit that has been set at “Zero” to insure that all transactions will be authorized. (See also: Floor Limit) |
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.com |
Domain typically associated with a commerce driven site. |
| .edu |
Domain typically associated with an educational institution. |
| .net |
Domain typically associated with commerce and often purchased in tandem with .com domain names. |
| .org |
Domain typically affiliated with organizations. Examples would be www.npr.org for National Public Radio. |
| ‘zine |
Magazines that are published digitally, rather than on paper. Some are mainstream, others are oddball and cover almost every topic imaginable. |
Working Capital
