Imprinted banking numbers (routing/transit number, checking account number, and check number) at the bottom of the check.
The stripe on a bankcard which holds all of the information of a cardholder’s account via a magnetic charge. Magnetic stripes are affixed to most bankcards.
A term used to describe the catalog and direct mail industry. See “Direct Marketing”.
The abbreviation for a Merchant Category Code.
In the STAR Network, “media” refers to documentation of transactions, including but not limited to credit slips and sales drafts.
Generally used to refer to a financial institution with a membership in MasterCard International or Visa. Members are able to issue cards and can accept drafts from merchants.
A cardholder’s request for a refund on merchandise. This can either refer to a partial or a full refund, which may be due to the cardholder as a part of a return policy or for…
An organization or person which agrees to accept debit and credit cards. This agreement must be pursuant to the rules of a merchant agreement.
A management system for credit information. Includes various types of information about cardholders, including credit scores, account tracking, profitability analyses, credit files…
Another term for an acquiring bank. A merchant acquirer is a member that has agreed with a merchant to accept bankcard transaction deposits.
A written agreement between an acquirer and a merchant. The merchant agreement explains rights, liabilities, responsibilities and any explicit warranties.
Also known as a merchant classification code. Identifies the type of processing, settlement and authorization handled by a particular merchant.
Submitting sales drafts which aren’t the result of actual sales for the purpose of defrauding a bank or a cardholder. Knowingly accepting invalid cards, including lost and stolen…
A number used by merchant processors for the purpose of identifying merchants, typically during accounting or billing.
The physical location where a transaction is initiated with a customer.
A contract between CreditCardProcessing.com, a member bank and a merchant with information on rights, duties and warranties for bankcard and payment system processing. The merchant…
Fees assessed by the account acquirer, including the discount rate. See “Discount Rate” for more information.
The sum of the credit and debit card transactions processed by a merchant in a day. Chargebacks and other debits or credits may change this amount.
Used by an imprinter machine for imprinting individual batch headers, summaries and sales slips. A merchant station plate is a piece of embossed metal which includes vital…
Transactions in the STAR system which cannot be processed for a variety of technical reasons, including technical limitations. These transactions are stored for later processing in…
A member which attained membership due to one of the following:
A system for encrypting digital messages by use of an encryption algorithm and a unique secret key creates a message authentication code or an MAC. The MAC is sent to a customer or…
A common method for authorizing checks through electronic payment systems. The MICR number method uses a bank’s routing number, an account number and a check number for…