| Term | Definition |
|---|---|
| Electronic Commerce Indicator (ECI) |
A processing compliance protocol that does not allow hand processing or the unauthorized storage of information As of the year 2000, all merchants that sell a majority of their goods or services online must use a gateway that is ECI compliant. |
| Electronic Draft Capture (EDC) |
A system that captures transaction data for processing and storage at the merchant location. |
| Electronic Funds Transfer (EFT) |
A paperless funds transfer from a telephone, terminal, computer, or magnetic tape. |
| Emboss |
The process of imprinting identifying data in the raised letters and/or numbers on a debit or credit card. |
| EMV |
A merchant security and identification technology in the form of a smart chip that is inserted into bankcards A more advanced terminal than a magnetic stripe reader is required to process an EMV card transaction. |
| Equipment |
The hardware, software, and devices used to conduct debit and credit card transactions Equipment for card processing includes internet connections, software, and terminals. |
| Expiration Date |
The date transactions are no longer valid on a credit card. After the expiration date, the card is invalid. |