Bank/Issuing Bank:
Bank which has issued the card.
Billing Address:
The card owner address (Home, Office, Etc).
Billing:
Usually office only, which has agreement with a bank. Also this office assumes payments for the card.
Drop:
A partner of Enemy. His task is to receive money or goods and, accordingly, to give part of the earnings to you (share/commission).
Card Bill:
Monthly issued statements of accounts, usually sent by mail to cardholder or emailed instead (e-statement).
Bank-Enquirer:
A bank, in which the person (cardholder) opens their account at (branch).
Merchant Account:
Bank account that accepts credit card payments.
Merchant Bank:
A bank, through which payments between the buyer and the company/seller goes to for clearing purposes (usually used as synonym to "Bank-Enquirer").
Cardholder:
Owner of the card.
Validity:
Duration of validity of the card before it expires.
White Plastic:
A piece of the pure plastic card, where the information is written or will be written to.
CR-80:
Rectangular piece of pure white plastic (without any image or other color except white) with the size of a credit card with the magnetic strip.
Transaction:
Charge to a credit/debit card.
POS terminal (Point of Sale terminal):
Reading card service used by merchants or sellers at commercial point.
PIN-Code:
The secret number, which consists of 4 or 6 digits. It is only known to the owner of the card.
AVS (Address Verification System):
The card owner's address, used to confirm the cardholder's billing address.
"Globe":
Card holograph with the image of two hemispheres (MasterCard).
Pigeon/Hen:
Card holograph with the image of the flying pigeon (Visa).
Reader:
Information reader device/magnetic card reader; for the readout from the magnetic strip of card.
Encoder:
Read/write device for the magnetic strip of the card.
Embosser:
An embosser is an impact printer that renders the text/numeric on a plastic card. It can also be used to press alphabets to form the name of the cardholder.
Card Printer:
Card information printing device.
Expiration Date:
Card validity period.
Area Code:
The first 3 or 6 numbers of the card owner phone.
CVV, CVV2 or CVN:
e Plus:
Program for checking the card's validity.
BIN:
First 6 numbers of the card number, because of this number, it is possible to learn what bank issued out the card and what is the type of this card (ATM Only, Gold, Debit, etc). For more information about type of cards, here you go (Visa, MasterCard, or Amex).
Charge back:
The cardholder's bank voids the removal of money from the card and the sent funds from the card is formally requested back.
Dump(s):
Information, which is written to the magnetic strip of the card, it consists of 1, 2 and/or 3 tracks.
Track(s):
A part of the dump with the specific information.
- Track 1 - The information about the owner of the card.
- Track 2 - Information about the card (no name will be available, card number only), type of card, expiration date, service code, etc.
- Track 3 - It is possible to say - spare, it is used by stores for the addition of loyalty points, store points and so on.
Slip:
In other words, a cheque/check.
Card Balance:
The most current financial sum that can be found on the card/account.
MMN (Mother's Maiden Name):
Important if you want to change the billing address or make any other alterations to the account.
Automated Clearing House (ACH):
The voluntary association of depositors, which achieves clearing of checks and electronic units by the direct exchange of means between the members of association. For more info, click here.
Continuous Acquisition and Life-cycle Support (CALS):
This system makes it possible to computerize all data about the design, development, production, servicing and the propagation of the production. For detail information, it's here.
Debit Card:
Card, which resembles a credit card, but the difference being that a debit card has funds deducted at the moment of purchase. Whereas a credit card may have a extended period of funds being deducted for interest purposes.
Delivery Versus Payment (DVP):
The system of calculations in the operations with the valuable papers, ensures the mechanism, which guarantees that the delivery will occur only in the case of payment and at the moment of payment. Quite complicated to understand, re-reading it multiple times and in details will help.
Direct Debit:
Payment levy method, mainly, with the repetitive nature (lease pay, insurance reward, etc.) with which the debitor authorizes his financial establishment to debit his/her account when obtaining of calculation on payment from the indicated creditor.
Electronic Fund Transfer (EFT):
The remittance of means, initiated from the terminal, telephone or magnetic carrier (tape or diskette), by transfer of instructions or authorities to financial establishment, that concern to the debiting or crediting of the account (see Electronic Fund Transfer/Point of Sale - EFT/POS).
In other words, transfer via Internet Banking or other means with online transaction.
Electronic Fund Transfer/Point of Sale - EFT/POS:
Debiting from the electronic terminal, for the means transfer purpose from the account of a buyer into the payment on the obligations, which arose in the course of transaction at the point of sale.
Integrated Circuit (IC) Card:
It is known also as chip card. Card equipped with one either several computer micros-chip or integrated microcircuits for identification and storing of data , utilized for the establishment of the authenticity of personal identification number (PIN), for delivery of permission for the purchase, account balance checking and storing the personal records. In certain cases, the card memory renewal during each use (renewed account balance).
Internet:
The open world communication infrastructure, which consists of the interrelated computer networks and which provides access to the remote information and information exchange between computers and servers.
International Standardization Organisation (ISO):
International organization, which carries out standardization, with the staff office in Geneva, Switzerland.
Magnetic Ink Character Recognition (MICR):
System, which ensures the machine reading of the information, substituted by magnetic inks in the lower part of the check, including the number of check, the code of department, sum and the number of account. More detailed info here.
RSA (Algorithm):
The coding and authentication technology, developed in 1977 in MIT by Rivest, Shamir and Adleman, which subsequently opened their own company RSA Data Security, Inc., purchased recently by the company Security Dynamics Technologies, Inc. More info 1. More info 2.
Real-Time Gross Settlement (RTGS):
The payment method, with which the transfer of means is achieved for each transaction in obtaining of instructions about the payment. Decrease the risk with the payment. More info here.
SSN (Social Security Number):
Nine-digit number issued in US only to an individual. Its primary purpose is to track individuals for taxation purposes.
Smart Card:
Card equipped with integrated circuit and microprocessor. It can either be contact or contactless card. More detailed info here.
Systemic Risk:
The risk of collapse of an entire financial system or entire market, as opposed to risk associated with any one individual entity, group or component of a system, that can be contained therein without harming the entire system. More detailed info here.
Truncation:
Procedure, which makes it possible to limit the physical displacements of a paper document, in the ideal version, by the bank of the first presentation, by the replacement by electronic transfer of entire or part of the information, which is contained on this document (check).
Tipper:
A machine designed for use with PVC plastic cards to create raised print. (basically a plastic card embosser).
COB:
Change of billing. Used for online carding, to change the billing address of a card since Online Stores will only ship large items if the billing and shipping address match.
DOB:
Date of birth of the card owner.
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