A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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Expiration Date The date transactions are no longer valid on a credit card.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.