E-Cash: A form of cash, distinct and separate from a credit, used specifically for electronic transactions. It’s only used on the Internet, but E-Cash has a direct cash value.
E-Check: An electronic version of a paper check, useful for transactions in which a paper check is not convenient or practical.
Electronic Banking: An electronic form of banking in which transactions are transferred through electronic signals between banks, credit unions and other financial institutions.
Electronic Benefits Transfer (EBT): Government entitlement programs allow qualified individuals to receive electronic benefits through magnetically striped cards, distinct from bankcards, which can be used at ATMs and POS terminals. An electronic benefits transfer is a transaction with such a card.
Electronic Bill Delivery: A specialized electronic system for bill delivery offered to Visa Interactive customers. Electronic Bill Deliver can be used by consumers to directly transfer funds to a billing agent from their financial institutions.
Electronic Bill Payment (E-pay): An electronic system for paying bills, including utility bills and other government bills. E-pay systems can use telephones, ATMs, Internet-connected PCs and other means to access consumers’ funds and to pay merchants. Electronic bill payment allows an easy way for consumers to pay bills and may be more convenient than writing paper checks.
Electronic Bill Presentment (EBP): Another term for electronic bill delivery. Electronic bill presentment commonly refers to bills sent by email, accessed on a website or through a telephone.
Electronic Cash Register (ECR): A system for direct linkup between CreditCardProcessing.com and merchant computers. ECR is useful for large businesses with many registers.
Electronic Check Acceptance (?) or ECA: A system for collecting and converting information off of paper checks into electronic data. ECA can be used to transmit information from a paper check through the ACH network. Checks are processed differently from paper checks through ECA, and the paper check is returned to the customer at the POS.
Electronic Commerce (E-commerce): Any electronic transactions fall under the heading of electronic commerce. E-commerce has many advantages, including easier record keeping and easier payment from a customer or business’s point of view.
Electronic Data Interchange (EDI): A term used to describe the communication of business transactions via electronic means. EDI most commonly refers to an exchange of documents related to trade. Examples of common EDI documents include purchase orders and invoices and EFTs. EDI replaces paper documents.
Electronic Draft Capture (EDC) Terminal: A specialized point-of-sale device that is capable of reading encoded information on a credit or debit card via a magnetic stripe. An EDC terminal can also store transaction data, transmit batched data to an acquirer and perform some authorization functions. EDC terminals are particularly useful in creating reports or settlement files from stored information.
Electronic Financial Services (EFS): Refers specifically to electronically delivered financial services. Services might be delivered from PCs, telephones and other electronic devices. EFS may be provided by financial institutions or other providers.
Electronic Funds Transfer (EFT): A non-paper transfer of funds between accounts. EFT transactions are usually originated from a computer or an electronic terminal, but may also originate from a telephone or other device capable of transmitting electronic data.
Electronic Funds Transfer at the Point of Sale: Refers to when a payment is made via an EFT at the actual point where a purchase occurs.
Electronic Mail (E-mail): A communications system in which messages and other electronic data are transferred through a network of computers.
Electronic Point of Sale: A merchant which has the ability to handle transactions at the point of sale electronically. However, it’s important to note that Electronic Point of Sale does not necessarily indicate that funds were electronically transferred.
Eligible Deposit: United States currency along with money orders and checks eligible for payment as United States currency are considered eligible deposits, and can be deposited to a STAR cardholder’s financial institution. Non-eligible deposits include returned and canceled checks as well as non-U.S. currency.
Eligible Non-U.S. Country: Any foreign country approved by STAR for eligibility in its system. STAR eligibility varies by country, and depends on the laws in the country. International members must be in an eligible non-U.S. country to become STAR members.
Eligible STAR Internet Merchant: A merchant which has been approved and authorized by the STAR network to assess a convenience fee to its STAR Internet transactions.
Eligible STAR Transaction: Any transaction in the STAR Network to which a convenience fee may be attached with STAR’s authorization. Examples include withdrawals, Internet purchases, PIN-less utility payments, Internet utility bill payments, purchases and cash advances. Other types of transactions may also be eligible.
Eligible Terminal: Any STAR terminal at which convenience fees can be assessed on eligible STAR transactions. An example of a non-eligible terminal is a POB terminal.
Embossing: The raised characters on a bankcard. Embossing is used to identify cards and allows sales drafts to be imprinted.
Encryption: A process by which data is electronically scrambled, rendering it unreadable, before being transferred. Encrypted data can then be decrypted for authorization. Encryption is an important tool for security.
Encryption Keys: Used to decrypt encrypted data. Encryption keys are mathematically created via different algorithms. They are an essential tool in using encryption to protect the information of cardholders.
Encryption Service Organization (ESO): Any organization, individual or other entity that provides a service to STAR network members which include the following:
- Using and loading encryption keys into authentication tokens, PIN pads and STAR Internet devices
- Loading software for the purposes of data encryption into a STAR terminal or Internet device.
- Providing support related to encryption services, including software updates re-programming, website programming and other related services.
- Providing help desk support for STAR account holders, including help with Internet devices for use in the STAR network.
An ESO provides essential services for the use of encryption technology in protecting customer data. However, an Encryption Service Organization is not a member of the STAR network; it is a third party which provides the services listed above.
Enveloping: Documents are grouped together for easier processing or other functions in the process known as enveloping. Enveloping typically refers to electronic envelopes which are sent for processing via electronic data interchange management software function.
EPAN: An electronic PAN which is assigned to a STAR account holder. It’s used to identify each account holder in an Internet transaction via the eSign authentication program. An ePAN is not the same as the PAN associated with a STAR cardholder’s bankcard. It’s a separate electronic number, although it could technically be the same number.
eSign Authentication Program: Used by the STAR network to authenticate STAR Internet transactions. In the eSign authentication program, an account holder uses an authentication token issued by an account holding member to initiate a STAR Internet transaction. The account holding member must then authenticate the token for the transaction to be successful.
Exception Fee: A fee assessed to cover expenses associated with the processing of exceptions. Exception fees may change from time to time in the STAR network.
Exception Item: An Adjustment, Chargeback or Representment initiated in accordance with these rules to correct a STAR Transaction processing error or a disputed STAR Transaction.
Expiration Date: The date at which a bankcard becomes invalid. It is embossed on the front of both debit and credit cards.
External Auditor: Another term for an Approved Auditor.
Extranet: Any website set up specifically to link businesses to consumers or other businesses for the purpose of e-commerce. Extranet websites are generally specifically made to have advanced security protocols. Passwords might be required, for instance, although this isn’t necessarily linked to a STAR transaction. Extranet websites are geared towards consumers in many instances.