Payment Processing Terms

Malware used by hackers to intercept payment card data traveling through merchant or processor networks.

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

Requires the use of small swipe devices (called skimmers) to capture unsuspecting customers’ credit and debit card numbers at ATMs and POS devices.

An open-loop or network-branded card whose sole purpose is to facilitate normal spending transactions, with functionality similar to a debit card but without the need

Credit and debit cards featuring tiny silicon chips that contain information like account numbers and PINs that can be read only by compatible POS terminals.

A security technology that encodes information into magnetic ink characters and numbers printed on checks and documents. To verify the legitimacy and originality of checks,

Established by the major payment brands, including American Express Co., Discover Financial Services, JCB International Co. Ltd., MasterCard Worldwide and Visa Inc., the PCI DSS

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

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