Authorization Authorization: Authorizations are done to make sure funds are available for the card holder to use. When the Authorization is complete the credit line is reduced and allow the transactions to be approved. View Glossary and Payment Processing Terms
Average Ticket Average Ticket: The average transaction amount of all sales over a specified amount of time. View Glossary and Payment Processing Terms
AVS / Address Verification Service AVS / Address Verification Service: The Address Verification System (AVS) is a system used to verify the address of a person claiming to own a credit card. The system will check the billing address of the credit card provided by the user with the address on file at the […]
ABA Routing Number ABA Routing Number: A nine digit number that is used on checks to identify the bank that the account is from. “The ABA RTN was originally designed to facilitate the sorting, bundling, and shipment of paper checks back to the drawer’s (check writer’s) account. As new payment methods were developed (ACH […]
ACH / Automated Clearing House ACH / Automated Clearing House: ACH stands for Automated Clearing House. An ACH transaction is an electronic payment sent between banks. ACH transactions are done on Automated Clearing House network. View Glossary and Payment Processing Terms
AMEX AMEX: Is short for American Express. The American Express Company is an international financial service business. Amex provides financial services such as banking, credit cards, travel, business, corporate cards and more. View Glossary and Payment Processing Terms
Account Number Account Number: The number associated with a cardholder account. The account number provides identifiable information about the card holder, card provider and card type. View Glossary and Payment Processing Terms
Acquiring Bank/Merchant Bank Acquiring Bank/Merchant Bank: An acquiring bank provides accounts to merchants to accept credit cards. They complete the transaction between card holders and your bank that receives the deposit. View Glossary and Payment Processing Terms