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Welcome to our glossary of terms. We decided to put together a list of know industry terms to help you, the merchant, better understand some of our lingo.
All | 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
Unique Transactions
A transaction that cannot be categorized as a retail sale or a cash advance, and for which there are special merchant classification codes. An acquirer with such merchant activity must have written approval from MasterCard and/or Visa for a bankcard relationship with the merchant.
Unsecured Credit
Credit extended without collateral, i.e. without the ability to attach specific borrowed assets in the event of default.
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