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.


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.


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.


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.