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Definitions (32)
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friendly fraud
A type of fraud in which a customer will order an item, then issue a chargeback falsely claiming the item was never received.
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cvc2
Card Validation Code. A three-digit embossed code on the back of a MasterCard that provides an additional layer of security and is often requested during a CNP transaction to ensure that the customer [..]
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acquiring bank
The bank with which you have your merchant account. This bank is a part of the card associations’ networks and has the authority to process transactions for you.
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assessment fee
A fee charged to the merchant by the card associations each time they process a transaction.
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avs
Address Verification Service. A system that compares the billing address as entered by the customer during checkout to the address on-file with the bank. The results can return as a full match, partia [..]
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card association
Any of the major credit card labels – Visa, MasterCard, Discover, and American Express.
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card identification number / card identifier
A three-digit (Visa, MasterCard and Discover) or four-digit (American Express) code printed on the credit card that provides an additional layer of security and is often requested during a transaction [..]
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card-not-present
A transaction where the credit card number is typed into the system instead of swiped, usually during the course of an e-commerce transaction where the card is not physically presented to the merchant [..]
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chargeback
A charge reversal that occurs when the customer successfully disputes the charge as being fraudulent or for an item he never received or which is substantially different than what the merchant adverti [..]
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chargeback fee
A fee charged to the merchant on top of the fee reversal each time a chargeback occurs.
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