Tag Archives: S

Sales Draft   Sales Draft: Paper documentation of a transaction View  Glossary and Payment Processing Terms

Settlement   Settlement: When a transaction has been completed between the aquiring bank and the issuer. When a merchant settle funds they are sent to the merchants account. View  Glossary and Payment Processing Terms

Settlement Statement   Settlement Statement: A document provided to the merchant showing all the merchants transactions and billing activity during a specified period. View  Glossary and Payment Processing Terms

Shopping Cart Software   Shopping Cart Software: Software that allow user to create an online store with a virtual shopping. Sales transactions and payments can be completed throught the software. View  Glossary and Payment Processing Terms

Smart Card   Smart Card: A payment card that has a chip in it. View  Glossary and Payment Processing Terms

SSL   SSL: Secure Socot layer is used to encrypt online information. View  Glossary and Payment Processing Terms

Start Up Kit   Start Up Kit: Supplies provided to merchant after opening a new account. View  Glossary and Payment Processing Terms