Glossary of terms

The process within a merchant terminal, which checks whether or not the card being used for a transaction is valid, according to that card scheme's Functional Specification(s).

Tax that is added to each commodity at the appropriate rate depending on the commodity purchased.

A methodology introduced by the Card Scheme and Banks to provide an additional, secure cardholder verification process prior to an Internet transaction proceeding.

Visa Global Invoice Specification.

An international payment systems organisation controlled by its members.

Charge card commonly used for low value, high volume transactions.

Authorisation by means of communication between merchant and Authorisation Centre by normal telephone.

The procedure which may follow an authorisation request where the merchant is requested to contact its acquirer for further instructions or the communication of further information about the cardholder or transaction.