The institution that establishes the rules, standards and procedures used in clearing ACH payments throughout the United States.
A negative file refers to a collection of cardholder accounts with revoked charge privileges. These accounts may require a voice authorization to be reinstated.
The total payment to a merchant for all sales drafts reported, with subtractions made for discount fees and credits.
Interchange expense subtracted from discount income is a merchant’s net revenue.
A transfer of funds to the net effect of several transactions between different customers results in a net settlement.
Connected computers. Networks can be private or public.
A processing period defined as the time from one cutover to the next cutover. Network business days vary depending on the exact STAR switch used by a processor or a member.
The provider of a terminal-centered system for data processing and authorization services. A network service provider is used by a merchant for credit card processing. Third-party…
A STAR program in which convenience fees are not assessed to STAR cardholders who use other financial institutions which are a part of the STAR network. The no convenience fee…
In the lodging industry, a no-show is a charge processed when a reservation isn’t canceled within a certain time frame or when a cardholder does not arrive at the hotel per his or…
An access point for a network telecommunication system, accessed by a terminal. The terminal dials a toll-free or local number to obtain authorization and to connect to the node.
A transaction that is charged to a cardholder’s account for payment for a service or a product before the delivery of a product or receipt of a service.
Transactions in which the cardholder is not present and his or her card’s information is submitted to the merchant by other means, including mail order purchases.
A financial institution which may be a STAR member but which does not offer retail banking services such as checking accounts or other common banking services and products.