resource center glossary of terms

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Detail Review
On-line review of transactions in the batch, either a specific transaction or the entire batch.

Dial-Up Terminal
An authorization terminal that (like a telephone) dials the authorization center for validation of transactions.

Direct Mail Merchant
Indicates merchants that submit actual sales drafts for payment (paper merchant) through the mail for payment

Direct Pass Through
The merchant is charged the exact Interchange and assessment charged by Visa/MasterCard plus a per item or basis points. This is only used for large Key or National Accounts.

Disclosure
The information required by federal or state law to be relayed to the cardholder concerning the terms of the credit agreement. Disclosure must be made by the issuer before the first use of the card by the cardholder, and must subsequently be included on all monthly statements and other documentation mentioning finance changes.

Discount Rate
A percentage rate that merchants are billed for the processing of Visa or Mastercard transactions. This discount rate can be applied to net or gross sales.

Downgrades
A downgrade occurs when the merchant does not meet the Visa/MasterCard requirements for a transaction and as a result the transaction is moved to a lower level of interchange. The merchant pays a higher rate for downgrades.

Download
Function performed to get a software program into a POS device.

Download
unction performed to get a software program into a POS device.

Downloading
Process of programming a terminal via modem from Zon Talk to the terminal.

Dual Dating
The practice of embossing cards with both valid form and expiration dates. Fraud-deterrent measure.

Duality
The membership of a financial institution in both MasterCard and Visa. Legality outside of the US varies according to nation.

ECR
Electronic Cash Register

EDC
Electronic Draft/Data Capture - Used to indicate when the merchant submits his/her transaction electronically.

EDC Terminal
Also referred to as Electronic Data Capture terminal. A point-of-sale device that reads information encoded in the bankcard’s magnetic stripe, performs authorization functions, stores transaction data and batches and transmits that data to the acquirer for processing.

EFT
Electronic Funds Transfered - example: Direct deposit of payroll checks

EFTS
Electronic Funds Transfer System-An electronically-based system that eliminates the need for paper (such as a check) in the movement of funds, e.g., ATM withdrawal or a pay-by-phone transaction.

Embossed
The raised numbering/lettering on a credit card used to make an imprint on a sales draft.

Embossing
The process of printing data, in the form of raised characters, on the bankcard. Provides identification of the card and allows the imprinting of sales drafts.

Emergency Card Replacement Service
A service that replaces cardholder’s lost and stolen cards.

Emergency Cash Service
A service that provides cardholders with cash advances in emergency situations.

Encoding
The magnetized recording of data on the magnetic stripe of the bankcard.

Encryption
The method used to scramble financial information for security purposes. For example, all Personal Identification Numbers (PIN’s) are encrypted when transmitted for authorization.

Enhancement Services
Value-added services (such as extended purchase warranty, etc.) that increase the appeal of the bankcard program to the cardholder.

Exception Report
A summary detailing questionable charges and chargebacks.

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