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

Factoring
FALA
FFB
FI
Fictitious Account Number
Finance Charge
Financial Institution
First Image
Float
Floor Limit
Folio Number
Force
Foreign Network
Formset
Frequency
FTB
Fulfillment
FUNB
FUSA


Factoring

The coercion or bribery of a legitimate merchant to process another merchant’s transactions (often fraudulent) in return for payment.
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FALA

Acronym or abbreviation for First Alabama Bank. Their phone number is 800-624-7766.
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FFB

Acronym or abbreviation for First Fidelity Bank, also known as First Union North.
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FI

Financial Institution—Used as part of the TID. Also indicates what relationship the merchant falls under. Example: 127 indicates the merchant is under the Bank Of The West relationship group.
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Fictitious Account Number

A "made-up" cardholder account number (used for fraudulent purposes) that does not exist and has never existed.
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Finance Charge

The fee assessed by the issuer on a cardholder’s rollover credit balance to cover the cost of providing the credit card loan.
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Financial Institution

Any organization in the business of moving, investing or lending money, dealing in financial instruments or providing financial services. Includes commercial banks, thrifts, federal and state savings banks, savings and loan associations and credit unions. Refers to any bank, credit unions or other entity that distribute cash.
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First Image

A company used to key enter Elavon’s paper merchant’s sales drafts (Total merchants, excluding FDR and FUNB merchants.) Their phone number is 606-878-7900.
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Float

The period of time between the purchase and the billing for goods or services. Also a name of compensation that is given to a merchant if Elavon has delayed funding through an error.
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Floor Limit

A dollar amount set by the acquirer in accordance with MasterCard and Visa rules and regulations. The merchant must obtain authorization for any transaction over the floor limit.
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Folio Number

Usually a room number.
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Force

Function performed at a POS device that allows the merchant to enter a transaction if unable to process under the regular sale key. Also referred to as an Off-line Sale and Post Auth.
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Foreign Network

Reference used to refer to another processor network. Example: VisaNet , Mapp, etc.
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Formset

A carbon set of two or more copies used by the merchant as a sales draft for bankcard transactions.
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Frequency

An Elavon value added product. Allows the merchant to use the POS device to accrue points for frequent customer. This can also be tied into a PC and can provide reporting for the merchant.
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FTB

First Tennessee Bank.
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Fulfillment

The acquirer’s response to an issuer’s retrieval request for a sales draft. The acquirer supplies the issuer with the original draft or a clear reproduction. The fulfillment record confirms the response and initiates reimbursement to the acquirer for fulfilling the request.
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FUNB

Abbreviation for First Union National Bank. An investor in Elavon.
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FUSA

First USA.
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