Interchange Fee – Payment Processing Term
Interchange Fee Interchange Fee: The cost of payment card transaction to be paid to card issuer. Visa and Mastercard determine interchange fees and rates. View Glossary and Payment Processing Terms
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Interchange – Payment Processing Term
Interchange Interchange: System operated to transact electronic payments for credit cards and bank cards. View Glossary and Payment Processing Terms
Funding – Payment Processing Term
Funding Funding: In merchant services funding is the payment to a merchant for deposits submitted View Glossary and Payment Processing Terms
Financial Institution – Payment Processing Term
Financial Institution Financial Institution: In merchant services funding is the payment to a merchant for deposits submitted View Glossary and Payment Processing Terms
Encryption – Payment Processing Term
Encryption Encryption: The action of encoding data automatically in the point of sale system prior to being transmitted. View Glossary and Payment Processing Terms
EMV – Payment Processing Term
EMV EMV: EMV is a type of payment technology used in smart payment cards and terminals. “EMV cards are smart cards (also called chip cards or IC cards) that store their data on integrated circuits in addition to magnetic stripes (for backward compatibility).” 1. Wikipedia View Glossary and Payment Processing Terms
Electronic Funds Transfer (EFT) – Payment Processing Term
Electronic Funds Transfer (EFT) Electronic Funds Transfer (EFT): A transfer of funds done automatically utilizing an electronic system. View Glossary and Payment Processing Terms
Electronic Commerce (E-commerce) – Payment Processing Term
Electronic Commerce (E-commerce) Electronic Commerce (E-commerce): Business that is transacted electronically instead of other methods such as paper View Glossary and Payment Processing Terms