Glossary of terms

A mandatory requirement from card Schemes to distinguish transactions generated through the Internet

An international payment (debit card) scheme launched in 1993 offering issuers the choice of European usage (EDC) or global usage (Maestro).

The technology and practice of making payments by means of functions embodied in computer systems.

Electronic Funds Transfer at the Point of Sale - the technology and practice of making payment for goods and services by means of EFT initiated at the point where the goods or services are purchased.

 A Visa International debit card for use in on-line Point of Sale devices. All Electron branded cards are electronic only, zero floor limit cards and are normally not embossed. Participating merchants must meet electronic requirements and display Electron decals.

The routine which must be completed on a terminal to enable it to be polled. Depending upon terminal type and configuration parameters, a terminal may be configured to perform the End of Day either automatically or manually.

A point of sale equipped with electronic equipment for pricing and recording transactions but not necessarily incorporating functions for EFT.

Opportunity for merchants to sell mobile pay as you go top up facilities through existing streamline terminal at no additional cost and earn income via commission on these sales.

An amount agreed between an acquirer and a merchant for a single transaction over which an authorisation approval must be obtained by the merchant for guarantee of payment subject to compliance with certain conditions.

Where an operator 'forces' a POS terminal to obtain authorisation (either on-line or by voice contact), this is known as forced authorisation. This may simply involve an additional key depression to inform the terminal that authorisation is required. Forced authorisation may be performed by an operator suspicious of the cardholder, the card itself or for any number of reasons.

Aimed at Mail Order Telephone Order (MOTO) and E-Commerce merchants. Fraud Screening is an additional service and forms part of the transactions authorisation flow process, prior to authorisation to reduce fraud and prevent chargebacks.

A special purpose charge card, e.g. Allstar, Esso Chargecard, used mostly by transport drivers to pay for fuel on the road. It saves their having to carry money and reduces their exposure to theft.

Same as a VPC but specifically aimed at Government Agencies and Bodies.

A telephone handset which incorporates a 'ringer' but not necessarily a keypad.