Payment Processing Terms

Established to help software vendors and others develop secure payment applications that do not store prohibited data and to ensure their compliance with the PCI

A federally insured financial institution responsible for connecting merchants to Visa Inc. and MasterCard Worldwide authorization and settlement systems. Also called an acquiring bank, merchant

A document used as a validation tool by merchants and service providers to demonstrate compliance with the PCI DSS. Updated in 2008, it is designed

Consists of interchange fees charged to merchants by issuing banks for the ability to accept bankcard transactions combined with fees charged to merchants by acquirers

When a merchant processes sales through his or her merchant account on behalf of another merchant. Laundering violates the terms of merchant agreements. Also called

The entity responsible for managing the core attributes of a prepaid card program. Program managers can either manage for other companies, or be responsible for

A delivery model for computing as a hosted service over the Internet that is available on-demand as a shared resource managed by a provider. Cloud

Ways of making electronic payments without credit cards. Examples of common alternative payment methods in the United States include debit and prepaid cards, bank transfers,

An identification number issued to business entities and individual taxpayers by the Internal Revenue Service or the Social Security Administration. Social Security numbers are issued

Established to help software vendors and others develop secure payment applications that do not store prohibited data and to ensure their compliance with the PCI