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
Purchasing Card (P-Card)

A company credit card that replaces paper invoices and is utilized by businesses to purchase low-cost goods and services.

Payment Gateway (Gateway Provider)

The code that transmits a cardholder’s order to and from a transaction-authorizing agent or merchant account provider (MAP) of the merchant’s bank Also see glossary definition of “Payment Gateway Provider.”

Payment Gateway Provider

A company that provides a code and/or software enabling a merchant to transfer information from its online shopping cart to the correct acquiring bank and complete the credit card transaction process.

PCI DSS

Requirements that establish the adoption of international data security measures PCI DSS was created by the founders of all of the major Card Associations and the PCI Security Standards Council.

Per-transaction Fee

A flat fee the payment gateway charges to a merchant for each transaction and to process each batch settlement Per-transaction fees include charges, declines, refunds, and voids.

Personal Identification Number (PIN)

A user-selected, secret code that contains four to twelve letters, numbers, and/or special characters and allows a cardholder to make purchases or withdraw cash at an ATM or POS terminal.

Point of Sale (POS)

A physical location with a card swipe terminal or other payment acceptance system where Card Present transactions occur.

Point of Sale (POS) Solutions Provider

A merchant supplier of products and services that facilitate Card Present transactions POS products and services include devices, software, systems, and distributors. Card Present transactions may apply to retail and mobile merchants.

Point of Sale (POS) Terminal

A device that enables card transactions by allowing a cardholder to slide a card with a magnetic stripe or insert an EMV chip encrypted card A POS Terminal is also called swipe reader or terminal reader.

Prior Authorization Capture

A type of credit card transaction request that captures funds on previously authorized or authorized-only transactions At the time of the original authorization-only transaction, an issuing bank will give a merchant an authorization code to submit.

Processor

The entity that handles and posts consumer credit card account transactions, performs billing and delivers reports to card associations and merchant bank accounts Card handling and posting activities include authorizing, clearing, and settling transactions.