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fatzebra.com.au
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Definitions (40)
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acceptor
Any party which accepts credit card transactions.
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access code
Commonly used by MiGS - this is part of the authentication for your merchant account.
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acquirer
Also referred to as "acquiring bank" or "acquiring financial institution". An acquirer is an entity that initiates and maintains relationships with merchants for the acceptance of payment cards.
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authentication
Verification that someone is who they say they are. When you log in to a website with a username and password the process behind that is called Authentication.
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authorization
Approval of a transaction by or on behalf of an issuer according to defined operations regulations. The merchant receives, via telephone or authorisation terminal, this approval to process the transaction.
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cvv/cv2/csv/cvc/cav/csc/security code
Also known as Card Validation Code or Value, or Card Security Code. This commonly refers to the 3 or 4 digit code printed on the back of the card on the signature panel (or on the front of the card for an American Express card).
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capture
The process of completing a pre-authorised transaction.
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chargeback
A dispute resolution process that members use to determine the responsible party in a chargeback related dispute.
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clearing
The facilitation of funds transfer between institutions.
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cryptography
Discipline of mathematics and computer science concerned with information security, particularly encryption and authentication. In applications and network security, it is a tool for access control, information confidentiality, and integrity. In short, principals of cryptography is used to make sensitive data unreadable.
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