Visa/MasterCard

Visa and MasterCard have made important changes to merchant acceptance as part of a proposed settlement for merchants located in the U.S. and U.S. territories. For more information click here.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Calendar Day
Call-Me
Capture
Card Activation
Card Mailer
Card Number
Card Registration Company
Card Re-issue
Card Type
Card Verification Code
Cardholder
Cardholder Bank
Cardholder Master File
Cash Advance
Cash Back Amount
CD Type
Central Processing Site
Certified Producer
Chain
Charge Cards
Chargeback
Chargeback Period
Chargeback Reason Code
Chargeback Reference Number
Charge-Off
Check Guarantee
Check Verification
Chip Card
CHX
CIRRUSâ
Clear All
Clearing
Clearing Member Bank
Closing
Co-Branded Cards
Combined Warning Bulletin
Commercial Card
Comp Report
Compliance
Compliance Filing
Confirmed Fraud Transaction
Convenience User
Copy Request
Counterfeit Card
Counterfeit Paper
CPS
Credit
Credit Amount
Credit Balance
Credit / Bank Card
Credit Card(s)
Credit Card Associations
Credit Draft
Credit Limit
Credit Line
Credit Loss
Credit Slip
Credit Soaring
Credit Voucher
Currency Conversion
Current Account
Customer Service Telephone Number
Cycle Date


Calendar Day

The actual calendar day of the month including Saturdays, Sundays and holidays.
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Call-Me

A response to an acquirer’s authorization request, generated by the issuer or through stand-in processing, which requires the acquirer to contact the issuer directly.
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Capture

To read and maintain applicable information from a POS device for use in the settlement of funds.
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Card Activation

A security process developed to prevent losses from fraudulent use of new and reissued bankcards stolen from the mail. The card cannot be used until the cardholder calls a toll-free number and verifies his or her identity.
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Card Mailer

Special packaging used to mail new or re-issued cards to the cardholder. The mailer may contain special information and/or instructions to the cardholder about the account.
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Card Number

A unique credit card account number assigned to a cardholder by their issuing bank.
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Card Registration Company

A company that provides an optional service to cardholders, usually for an annual fee. The cardholder registers his/her credit card account numbers with the company. If cards are lost or stolen, the cardholder makes only one call to the card registration company which then notifies the issuers of all the lost/stolen cards.
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Card Re-issue

The process of preparing, packaging and sending new bankcards to cardholders prior to their current card’s expiration date.
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Card Type

A description of the credit card, Visa, MasterCard, Discover, American Express, Diners, JCB, etc.
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Card Verification Code (CVC)

A unique value calculated from the data encoded on the magnetic stripe of a MasterCard card, for the purpose of validating card information during the authorization process.
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Cardholder

Merchant’s customer who holds a credit card. The person to whom a financial transaction card is issued or an additional person authorized to use the card.
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Cardholder Bank

The bank that has issued a bankcard to an individual. The term is frequently used in interchange arrangements to identify the card-issuing bank.
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Cardholder Master File

The issuer’s record of all cardholder accounts. The file contains information on each account, such as name, credit line, and status of the account.
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Cash Advance

A transaction in which only a bank or financial institution can submit, for cash to a cardholder. The transaction is posted against the cardholder’s bankcard account. Interest fees for cash advances are charged from the day of the transaction.
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Cash Back Amount

The amount cash returned to the cardholder above the purchase price.
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CD Type

Card type. Example: MasterCard, Visa, etc.
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Central Processing Site

The central computer processor used in the transaction flow.
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Certified Producer

An organization certified by MasterCard and/or Visa to produce MasterCard and/or Visa cards within the association’s specified guidelines.
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Chain

A group of merchants.
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Charge Cards

A card that must be paid in full each month.
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Chargeback

A dispute procedure initiated by the issuer after receipt of the initial presentment from the acquirer. Used to correct erroneous presentments.
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Chargeback Period

The number of calendar days (counted from the transaction processing date) during which the issuer has the right to charge the transaction back to the acquirer. The number of days varies according to the type of transaction from 45 to 180 days.
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Chargeback Reason Code

A numerical code that identifies the specific reason for the chargeback. MasterCard and Visa each have their own chargeback codes.
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Chargeback Reference Number

A unique number assigned by an Issuer in accordance with specifications in the appropriate VisaNet user's manual to identify the source of an outgoing Chargeback.
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Charge-Off

The situation in which the issuer is faced with a delinquent loan of such severity that it must absorb the amount of the debt, at least temporarily, in order to clear the amount from its ledgers. The issuer may still attempt to collect some or all of the amount owed through the recovery process.
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Check Guarantee

A service which guarantees check payment (up to a limit defined for the account) provided that the merchant follows correct procedures in accepting the check.
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Check Verification

A service that tells a merchant whether a check writer has been reported for writing bad checks, but it does not guarantee payment if the check bounces.
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Chip Card

A card (debit or credit) that carries an embedded computer chip with memory and interactive capabilities so that it can be updated. Also called an integrated circuit card or a chip card.
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CHX

Chextra Card - A debit card similar to an ATM card in that it allows customers to perform deposits, withdrawals, and transfers. It also allows debit transactions from merchant locations.
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CIRRUSâ

CIRRUSâ Systems, Incorporated, a wholly-owned subsidiary of MasterCard International Incorporated, operates the international ATM sharing network known as MasterCardâ CIRRUSâ ATM Network. MasterCard customers may elect to participate in the network as issuers or acquirers by connecting through the Banknetâ telecommunications network or by developing a separate interface to the MasterCard Debit Switch.
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Clear All

Procedure done on all Verifone terminals to clear the memory. Another term for this function is Blow out.
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Clearing

The process of exchanging financial transaction details between an acquirer and an issuer to facilitate posting of a cardholder’s account and a reconciliation of a customer’s settlement position. Terminology used to indicate the settlement of transaction through Interchange
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Clearing Member Bank

A bank which Visa and Mastercard empower to receive and distribute funds received through settlement and Interchange. Examples: Regions Bank and First Union National Bank.
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Closing

The sending through the Interchange of the credit card transactions accumulated by the merchant in the terminal or Host so the merchant can be paid for them.
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Co-Branded Cards

A customized card product for a specific retailer or service provider, such as General Motors, that wishes to solicit its customers.
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Combined Warning Bulletin

A list of invalid MasterCard and Visa account numbers, covering nine U.S. and four worldwide regions, published weekly or bi-weekly depending on the region. The issuer is charged per account number and per region for each Bulletin listing. Effective April 1, 1994, the Combined Warning Bulletin in the U.S. is electronic only. The paper version has been eliminated.
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Commercial Card

A term used to signify corporate, business AND government bankcard.
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Comp Report

Compensation report — Report generated for all banks.
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Compliance

The procedure a MasterCard and Visa member may use to resolve a dispute between members when no chargeback reason code applies. The challenging member must prove financial loss due to a violation of MasterCard and/or Visa rules by the other merchants.
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Compliance Filing

A formal case filing (on a completed Regulations/Rules Violation form) submitted subsequent to an unsuccessful good faith attempt to resolve the dispute.
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Confirmed Fraud Transaction

A transaction reported by an issuer to MasterCard or Visa involving a card that was lost, stolen, never received, issued on a fraudulent application, counterfeit or used fraudulently.
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Convenience User

A cardholder who pays his/her account balance in full on or before each payment due date.
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Copy Request

An original paper or a copy of the sales or credit slip requested from the acquirer center by the issuer center.
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Counterfeit Card

A plastic card that has been fraudulently printed, embossed, or encoded to appear to be a genuine bankcard, but has not been authorized by MasterCard or Visa or issued by a member; a card that was originally issued by a member but has subsequently been altered without the issuer’s knowledge or consent.
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Counterfeit Paper

Paper originating form the use of counterfeit cards for transactions.
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CPS

The best rate an EDC merchant can quality for (VISA only). It also is known as the Qualified rate. See Qualified Rate.
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Credit

The process of reimbursing a cardholder's account for returned merchandise.
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Credit Amount

The aggregated amount of credits by card types for the specified category within a batch.
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Credit Balance

On a revolving line of credit, the amount currently owed by the cardholder.
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Credit / Bank Card

A plastic card that is used in place of cash or a check, offered to people to buy goods and services on the promise that the money will be paid back later. Money not paid back each month is considered a short term loan and interest is charged.
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Credit Card(s)

A plastic card with a revolving credit limit used to purchase goods and services and to obtain cash advances on credit for which a cardholder is subsequently billed by the issuer for repayment of the credit extended.
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Credit Card Associations

The conduits through which the merchant's bank can sell purchase drafts generated by credit cards back to the issuing banks.
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Credit Draft

Paper evidencing a refund or price adjustment by a merchant to be credited to a cardholder’s account
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Credit Limit

The maximum dollars available on the account, set by the issuing financial institution. The maximum amount the cardholder may owe to the issuer on the card account at any time.
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Credit Line

Also called a credit limit. The amount of money a Cardholder can charge against his or her card. This amount is determined by the Issuing Bank based on the Cardholder’s past credit history.
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Credit Loss

The amount lost (charged off) as a result of the cardholder’s failure to repay the amount owed on the account.
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Credit Slip

The form stating a refund or price adjustment to be credited to a cardholder account. Also referred to as a credit voucher.
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Credit Soaring

A method for predicting the creditworthiness of a credit card applicant through statistical analysis.
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Credit Voucher

Paper evidencing a refund or price adjustment by a merchant to be credited to a cardholder’s account.
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Currency Conversion

The service provided by the associations that converts the transaction currency to the billing currency.
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Current Account

A cardholder account on which payment is up to date and no amount is overdue.
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Customer Service Telephone Number

The number published by the issuer for general questions or Customer Service.
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Cycle Date

The date on which accumulated transactions and fees are billed.
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