Glossary
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. |
