Acquirer- An accredited financial member that presents transaction data into interchange, either directly or indirectly, while upholding the merchant relationship and receiving the data from the merchant or card acceptor.

Automated Teller Machine (ATM) - A free-standing, magnetic stripe-reading workstation that accepts loan payments; dispenses cash; enables a bank customer to order transfers among accounts and compose account inquiries; and accepts deposits.

Charge Back Defense - A consumer, who states he did not place an order, did not receive his goods or services, can ask his issuing bank to charge back the merchant. The Issuing Bank sends the charge back request to the merchant bank, which forwards it to the merchant requesting to validate the charge. Information such as the customers signature, an invoice or folio, the amount, shipping documents, the shipping address (used in AVS during the authorization) are needed to defend against a charge back.

Commerce Server - A Web server that inhibits the software needed for processing customer orders via shopping cart programs, the Web, dynamic inventory databases, and online payment systems. Commerce servers are generally secure servers.

Electronic Draft Capture (EDC) - A system where processing and storage of transaction data is captured at the merchant location.

Mail Order/Telephone Order (MOTO) - A mail or telephone order sale in which the buyer has ordered merchandise from the seller that will be credited or debited to a bankcard account.

Point of Sale (POS) Terminal – Also known as a terminal machine, it’s a device that allows you to slide the credit card through to make a purchase. Grocery stores, restaurants, and most retail stores use these terminals for credit card authorizations. It takes only a few seconds and is accurate, fast, and easy to make charges on a customer's credit card.

Settlement - The exchange of financial information between the cardholder and the merchant, emerging from sale proceeds, merchandise credits, and cash disbursements.

Transaction – An activity on a cardholders account between the merchant and the cardholder or member and the cardholder.

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