Cardstream's Payment Gateway Glossary

CARDSTREAM'S PAYMENT GATEWAY GLOSSARY

Glossary

 

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Authorisation Code

A code that an issuer or its authorizing processor provides to indicate approval or denial for an authorisation request.

Authorisation Date

Date and Time that transaction was authorized.

Authorisation Only

A transaction created to reserve an amount against a credit card's available limit for intended purchases; the settlement may occur within three to five days, depending on the card type.

Authorized Amount

Currency amount approved.

Authorized Transactions

Transaction that has been approved.

AVS

See Address Verification Service.

Bad Credit

A term used to describe a poor credit rating. Common practices that can damage a credit rating include making late payments, skipping payments, exceeding card limits or declaring bankruptcy. "Bad Credit" can result in being denied credit.

Balance Transfer

The process of moving an unpaid credit card debt from one issuer to another. Transfers of the balance owed may occur through the use of special checks, or may be handled directly by the issuer on your behalf.

Bank Account

Bank account number for the merchant to which funds will be deposited. Bank Identification Number (BIN) - The first six digits of a Visa or MasterCard account number. This number is used to identify the card issuing institution.

Bank Of Scotland Merchant Service

Are a Cardstream supported merchant.

Bankcard

A payment card issued by a bank. Business Card (Business Credit Card) - Usually issued to corporate executives or business owners in order to keep business expenses separate from personal charges more easily.

Barclay Card Merchant Services

Has over 40 years of experience with companies of all sizes and has UK based service team. Barclay is a Cardstream supported merchant.

Card Issuer

Any association member financial institution, bank, credit union, or company that issues, or causes to be issued, plastic cards to cardholders.

Card Reader

A device capable of reading the encoding on plastic cards. See Magnetic Stripe Reader.

Cardholder

An individual to whom a card is issued, or who is authorized to use an issued card.

Cardstream

Cardstream is a Global Payment Gateway Solution. Cardstream is integrated into most leading shopping cart technologies. This means that integrations require little to no technical work to be carried out by a Merchant. Cardstream's policy is to support integration into any technology required by any given Merchant at no extra charge.

Cash Back

Cash back returns to you a percentage of the total amount spent on your credit card over a specific period of time, usually monthly or quarterly. This is particularly useful if you normally pay your credit card bills in full each month, as it means you get an effective discount on the products bought with your credit card.

Certificate

A digital identifier linking an entity and a trusted third party able to confirm the entitys identity.

Certification Authority (CA)

A trusted entity issuing certificates confirming the identity of, or given facts associated with, the certificates subject.

Chargeback

A transaction returned through interchange by an issuer to an acquirer. A transaction may be returned because of it was non-compliant with the association rules and regulations or because it was disputed by a cardholder.

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