Tag Archives: E

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   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)   Electronic Funds Transfer (EFT): A transfer of funds done automatically utilizing an electronic system. View  Glossary and Payment Processing Terms

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

Electronic Bill Payment (E-pay)   Electronic Bill Payment (E-pay): Bill payments made using electronic checks instead of paper checks. View  Glossary and Payment Processing Terms

Electronic Banking   Electronic Banking: Commonly known as internet banking or Online banking. It is a form of banking in where funds are transferred through an exchange of electronic signals instead of cash, checks or other negotiable instruments. View  Glossary and Payment Processing Terms

E-Check   E-Check: It is an electronic check that is used in the same as a paper check. View  Glossary and Payment Processing Terms