Cardstream's Payment Gateway Glossary

CARDSTREAM'S PAYMENT GATEWAY GLOSSARY

Glossary

 

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Receipt

A hard copy document recording a transaction that took place at the point of sale, with a description that usually includes: date, merchant name/location, primary account number, amount, and reference number.

Recurring Billing

Transactions for which a cardholder grants permission to the Merchant to periodically charge his account number for recurring goods or services.

Reference Number

Number assigned to each monetary transaction in a descriptive billing system. Each reference number is printed on the monthly statement to aid in retrieval of the document, should it be questioned by the cardholder.

Refund

Create a credit to a cardholder account, usually as a result of a product return or to correct an error.

Regulation E

Electronic Funds Transfers - Establishes the rights, liabilities, and responsibilities of parties in electronic funds transfers and protects consumers when they use such systems.

Regulation Z

Truth in Lending - Prescribes uniform methods for computing the cost of credit, for disclosing credit terms, and for resolving errors on certain types of credit accounts. This federal regulation governs all aspects concerning credit cards. It pertains to the issuer and cardholder, as well as any organization involved in the processing of credit cards.

Repudiate

To deny that you have done something when you have.

Request Auth

Submits a transaction for Authorisation Only.

Retail Merchant

A merchant that provides goods and/or services in the retail industry, but is not a mail/phone merchant, a recurring services merchant, or a T&E merchant.

Retrieval Request

An issuers request for a transaction receipt, which could include the original, a paper copy or facsimile, or an electronic version thereof.

Reversal

An online financial transaction used to negate or cancel a transaction that has been sent through interchange in error.

Showing 1 to 11 of 11 Results