A document used as proof of purchase for goods or services by a cardholder.

A protocol developed by MasterCard International, Visa International and others to protect the security of credit card transactions conducted over the Internet.

The act by which the merchant sends all of the credit card processing transactions for a particular day to the credit card processor.

The process by which members exchange financial data and value resulting from sales transactions, cash disbursements, or merchandise credits, which are ultimately billed to the cardholder's account so that all parties in a transaction are paid for their goods or services.

A software package that runs as part of a Web site to collect and record purchasing decisions by a visitor. Shopping cart programs are stored on Web servers.

A number assigned by an Acquirer to identify a merchant's business type (also known as MCC- Merchant Category Code).

Electronic capture of the signature of a cardholder, which eliminates the need for paper storage/retrieval.

Payment cards with built-in computer chips that allow them to manipulate and retain data. Monetary value can be transferred from a bank account to the smart card's chip via a smart card device that writes to the chip. Unlike a credit card, a smart card can only spend out the dollar amount its owner has already put into the card account.

A process which allows the authorization device to dial directly to different card processors (e.g., American Express) for authorization. In this instance, the merchant cannot be both EDC and Split Dial.

Process which allows the authorization terminal to dial directly to different card processors (e.g., American Express) for Authorization and Electronic Draft Capture.

The process of sending batch deposits to the Acquirer for processing.

Credit or debit cards that were magnetic stripe read (processed via the card reader).