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E-commerce Fraud

E-commerce fraud is payment fraud that targets e-commerce merchants. Common forms of e-commerce fraud include credit card fraud, account takeover fraud, and friendly fraud. E-commerce merchants are more vulnerable to fraud than card-present merchants and are granted fewer liability protections. Fraudsters often target e-commerce merchants in order to better preserve their anonymity. Read more >>>

Electronic Commerce Indicator (ECI)

An Electronic Commerce Indicator (ECI) is a number that indicates the level of security that was used when obtaining the customer's payment credentials. An ECI is included as part of the authorization request for each transaction. The ECI number used for a particular method of payment may vary depending on the card network.

Electronic Draft Capture (EDC)

Electronic draft capture (EDC) is a system that captures transaction data for processing and storage at the merchant location. It may also be referred to as remote deposit capture. A point of sale system uses EDC to settle transactions, using the information in the provided payment credentials to initiate the transfer of funds from the issuing bank to the acquirer.

Electronic Funds Transfer (EFT)

An Electronic funds transfer (EFT) is a transfer of money from one account to another via computer. Direct deposit payments, ATM withdrawals, and debit or credit card transactions are all types of EFTs. In the United States, basic protections for people using EFTs were established by the Electronic Funds Transfer Act of 1978.

Electronic Identification (eID)

Electronic Identification (eID) is a system for providing digital proof of a person's identity. A number of countries currently issue eIDs for their citizens, often in the form of ID cards carrying an embedded RFID chip. As of 2018, all EU countries are required to recognize eIDs issued by other EU countries. Read more >>>

EMV

EMV is a method of payment that uses a chip embedded into a credit or debit card rather than the traditional magnetic stripe. The standards for this technology are created and maintained by EMVC0, an organization established through a partnership of major credit card networks. EMVCo also sets standards for contactless, mobile, and QR code payments to ensure security and compatibility. Read more >>>

EMV Liability Shift

The EMV liability shift was a change in policy adopted by the major card networks to incentivize merchants to upgrade their payment terminals for compliance with the EMV chip standard. Merchants who process a transaction without scanning the EMV chip of a payment card that has one will be automatically assigned liability for any claim of fraud made against that transaction. Read more >>>

E-skimmer

An e-skimmer is a piece of malware that infects a merchant's website and records payment credentials entered by customers. This gives the fraudster access to numerous complete sets of credit card details that can either be used or sold on the dark web. This method of fraud may also be referred to as formjacking. Read more >>>

Ethoca Eliminator

Ethoca Eliminator is a system that allows the merchant to provide the issuing bank with detailed transaction information in order to prevent illegitimate chargebacks. When a customer contacts the bank to dispute a charge, the customer service representative can access the data provided by the merchant to give the customer more information about the transaction. Read more >>>

E-wallet Fraud

E-wallet fraud occurs when a fraudster gains access to an e-wallet or mobile wallet app and uses it to make unauthorized purchases for their own benefit. Since many users add multiple credit and debit cards to these apps, this can lead to several different payment cards being compromised simultaneously. Read more >>>