Category Archives: glossary

Cash Back   Cash Back: When part of purchase is given back to the cardholder in cash. View  Glossary and Payment Processing Terms

Chargeback   Chargeback: A cardholder challenges a transaction and requests a refund from the card issuing bank. View  Glossary and Payment Processing Terms

Chargeback Period   Chargeback Period: The number of days which a chargeback can take place. The number of days varies from 45 to 180 days. View  Glossary and Payment Processing Terms

Check Verification   Check Verification: service provided in which a merchant accesses a national negative file database through their terminal/register to verify or authorize the person has no outstanding bad check complaints at any of the member merchants. This is not a guarantee of payment to the merchant. View  Glossary and Payment Processing Terms

Counterfeit Card   Counterfeit Card: A card that has been created to appear like a real bank card but is not authorized by a financial institution or card brands. View  Glossary and Payment Processing Terms

Card Present   Card Present: View  Glossary and Payment Processing Terms