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

National Association
National Debit Networks
NDI
Negative File
Network
Non Face-To-Face Transaction
Non Qualified Rate
Non-Bank
Non-Bank Card
No-Show
Elavon Host
Elavon PERKS
Novus
NYCE (Yankee 24)


National Association

MasterCard International or Visa International member-owned organizations, each governed by a board of directors, that have developed standards and procedures for the bankcard system and license members to issue cards with the association trademarks and accept merchant drafts.
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National Debit Networks

Networks formed by groups of banks that allow debit cards from banks subscribing to these networks to be used all over the country at other subscribing banks and at subscribing retailers.
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NDI

Next Day Inquiry—Gives daily activity for a merchant.
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Negative File

A computer file, used for stand-in authorization purposes that lists accounts which have had their privileges revoked by the issuer.
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Network

An entire system of communication lines.
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Non-Face-To-Face Transaction

Any transaction where the card is not present, such as a mail order purchase.
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Non-Qualified Rate

A rate. Indicates the transaction did not meet any of the qualifications for the lower rates. This rate includes business cards. All paper merchants will fall to this rate.
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Non-Bank

In a payment system, a financial institution not offering retail banking services.
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Non-Bank Card

A card which is not issued by a financial institution, such as American Express.
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No-Show

A charge processed by a hotel or motel when a cardholder either fails to arrive within a specified time or fails to cancel the guaranteed reservation within a specified time frame. The words "no-show" must be written on the signature line of the sale draft.
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Elavon Host

The central computer at Elavon that stores merchant information and routes messages between the merchant terminals and the Issuing Banks. Also called Stratus.
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Elavon PERKS

A Elavon value added product. Allows the merchant to use the POS device to accrue points for frequent customer. This also can be tied into a PC, and can provide reports for the merchant.
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Novus

The company that owns the Discover card. The phone number is 800-347-2000.
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NYCE (Yankee 24)

A regional debit network.
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