The magnetically encoded stripe that appears as a visible black line on the reverse side of a credit card and contains the cardholder’s account information.
|Magnetic Stripe Reader (Card Swipe Reader)||
The device that reads the debit or credit card account information captured on a card’s magnetic stripe.
Inputting credit card information into a card reader or payment terminal Input types include swiping the card, typing the card’s information on a keypad. Manual entry applies to an online merchant who manually enters card information, but not to a customer who enters their information on a website.
A security program, created by MasterCard®, that authenticates a cardholder’s identity thereby providing merchants transaction protection.
|MasterCard® Site Data Protection (SDP) Program||
MasterCard’s compliance program for merchants and merchant service providers that states its technology and sensitive data security requirements.
|MATCH List (Member Alert to Control High-Risk)||
A record of terminated merchant and individual accounts This list is also known as a Terminated Merchant File (TMF).
A business or individual that sells in-store or online services and goods to customers.
An account a bank or financial institution provides to a merchant to process credit card transactions Card transactions include Card Present and Card Not Present (CNP) transactions.
|Merchant Account Provider||
The bank or financial institution that originates and services the merchant account A Merchant Account Provider may also be called an Acquiring Bank or a Merchant Bank.
A bank, under a contractual agreement with a merchant, that accepts deposits generated by bankcard transactions The Merchant Bank is also known as the Acquiring Bank or the Acquirer.
|Merchant Identification Number||
The unique number that identifies a merchant’s business or account.
The least amount a merchant is charged in fees Actual monthly sales are not considered when calculating the monthly minimum. If a merchant’s sales do not reach the defined monthly minimum, the merchant pays the difference between the discount rate and the difference in monthly minimum fees.