Glossary

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.

Tariff

We like to keep things simple, and our tariff is no exception. We have a straightforward monthly fee of just £18 per month, which includes 350 transactions FREE every month.

TCP / IP

Transport Control Protocol/Internet Protocol. A standard format for transmitting data from one computer to another. TCP deals with the construction of the data. IP routes the data from one computer to another.

Terminal ID

In the payment card industry, a number provided to a merchant by a credit card processor when that merchant retains the services of that credit card processor to uniquely identify a terminal. Also sometimes called the terminal number. A credit card processor may assign several terminal IDs to a given merchants terminals although that merchant has a single merchant ID with that processor.

The Co-Operative Bank

The Co-operative Financial Services (CFS) is part of The Co-operative Group, the UK’s largest consumer co-operative. The Co-Operative Bank is a Cardstream supported-merchant.

Third-party Transaction Processor

An entity that validates and authorizes credit card purchases. They may also service the actual accounts on behalf of the issuers, emboss cards, and mail cards to cardholders.

Transaction

(1) any agreement between two or more parties that establishes a legal obligation. (2) the act of carrying out such an obligation. (3) all activities that effect a deposit account that are performed at the request of the account holder. (4) All events that cause some change in the assets, liabilities or net worth of a business. (5) Action between a cardholder and a merchant or a cardholder and a member that results in activity on the cardholder account.

Transaction Identifier

A unique 15 character value that VISA assigns to each transaction and returns to the Acquirer in the authorisation response. VISA uses this value to maintain an audit trail throughout the life cycle of the transaction and all related transactions, such as reversals, adjustments, confirmations, and chargebacks.

Transaction Processor

An entity that validates and authorizes credit card purchases. They may also service the actual accounts on behalf of the issuers, emboss cards, and mail cards to cardholders.

Transaction Type

A specific type of financial detail transaction activity that can be submitted to the clearing system.

Triple DES (DES3)

A data encryption algorithm based on DES in which information is processed through the DES algorithm three times.

Ulster Bank Group

Is a Cardstream supported merchant.

UN/SPSC Code

Universal Standard Product and Service Classification Code. A Global commodity standard – 10 digit, hierarchical code used to consistently classify products and services.

Unbundled Fees

Other fees paid by the merchant to the merchant bank or other contracted party for transaction processing.

Uniform Commercial Code (UCC)

A set of business-related laws dealing with the sale of goods, their transportation and delivery, financing, storage, payments, and various other commercial transactions. These model laws have been adopted, with minor modifications, by most states to provide some consistency among states commercial laws. They were drafted by the National Conference of Commissioners on Uniform State Laws.