The 1- or 2-digit number that is printed on certain European debit cards, which indicate how many versions of the card have been issued to the cardholder. This value is used for authentication.
An issuing financial institution extends credit to a customer through credit card accounts or provides electronic account debits through debit cards. The issuing financial institution issues a credit card and bills the consumer against the credit card account. An issuing financial institution is also referred to as the cardholder's financial institution or issuer.
The account that collects the funds from a credit/debit card transaction. The merchant account receives the funds after the capture is complete.
Submit is the process of sending deferred credit/debit card transactions to a gateway for authorization.
Settlement is the process in which an electronic credit card transaction is settled between your acquiring financial institution and the customer's credit card issuing financial institution. Your acquiring financial institution credits your account for the credit card sale and the sale is posted to the customer's credit card account.
The account that is debited after an authorized credit/debit card transaction is captured.
A void is a deleted payment transaction. The transaction can then be replaced with a new transaction.
10.6 Production Release. Updated 11/16/2005 11:44:30 AM
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