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
Magnetic Stripe

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.

Manual Entry 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.
MasterCard® SecureCode™

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).
Merchant

A business or individual that sells in-store or online services and goods to customers.

Merchant Account

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.

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.

Monthly Minimum

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.