Cardstream's Payment Gateway Glossary

CARDSTREAM'S PAYMENT GATEWAY GLOSSARY

Glossary

 

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Sales Draft

A paper record evidencing the purchase of goods or services by a cardholder.

Secure Code

The Mastercard equivalent of the Visa VBV scheme.

Service Charge

A component of some finance charges, such as the fee for triggering an overdraft checking account into use.

Settlement

The reporting of settlement amounts owed by one member to another, or to a card issuing concern, as a result of clearing. This is the actual buying and selling of transactions between the merchants, processors, and acquirers; along with the card issuing entities.

Settlement Bank

A bank, including a correspondent or intermediary bank, that is both located in the country where a members settlement currency is the local currency, and authorized to execute settlement of interchange on behalf of the member or the members bank.

SIC Code

Standard Industry Classification Code. A system used to categorize businesses by industry group. This system is being replaced by the NAICS Coding system.

Smart Card

A plastic card containing a computer chip with memory and CPU capabilities. Such a card may be used for identification, to store information or financial amounts, or other forms of data. Also called an integrated circuit card or a chip card.

SSL

Secure Sockets Layer -an encryption standard devised by Netscape Communications for secure communication over the World Wide Web.

Standard Floor Limit

A floor limit that varies by merchant type. This refers to a currency limit on transactions above which authorisation requests are required.

Statement

A written record prepared by a financial institution, usually once a month, listing all transactions for an account, including deposits, withdrawals, checks, electronic transfers, fees and other charges, and interest credited or earned. The statement is usually mailed to the customer.

Stored-value Card

A stored-value card is a credit-card-sized device, implanted with a computer chip, with stored money value. A reloadable stored-value card can be reused by transferring value to it from an automated teller machine or other device. A disposable card cannot be reloaded.

Supported Cards

Cardstream supports a variety of debit and credit cards for secure payment processing. The supported Cards include American Express, VISA, MasterCard, Switch, Solo, Maestro, Dinners Club International, Visa Electron and JCB.

Showing 1 to 12 of 12 Results