Slide 1: Merchant Processing Terminology Guide
Merchant Processing Terminology Guide
Slide 2: General Information: Industry and Card Acceptance
General Information Industry Information Retail Card Present & Swiped MOTO Card Not Present, mail order/telephone order E-Commerce Card Not Present; acceptance via internet/online Card Acceptance Information Swiped Card is present and swiped through the terminal Key Entered Cardholder information is
Slide 3: General Information: Pricing Structure
General Information Pricing Structure Information Pass-Through Plus Interchange A simplified pricing plan that passes through the cost of interchange based on how the card transaction qualifies Interchange Fee The percentage of a credit card transaction that the merchant must pay back to the card is
Slide 4: Fee Information
Fee Information Specific Fee Information Transaction/Per Item Fee A fee charged for each settled transaction. Authorization/Network Access Fee A fee charged for each authorized transaction whether approved or declined. PCI Compliance/Regulatory Fee A fee charged to provide access to data security in
Slide 5: Fee Information
Fee Information Specific Fee Information Monthly Service Fee A fee charged by the processor for the use of the merchant processing service. Batch Header Fee A fee charged for the processing of credit card batches or settlement files as submitted. Gateway Fee A fee charged for the use of a virtual te
Slide 6: Card Brand Information
Card Brand Information Card Brand Fees Information Assessments Fees billed as a percentage on the total volume processed for each VS/MC/DS transactions. Used to cover advertisement expenses which promote card usage. MasterCard NABU/ License/ Network Access Brand Usage fee and Digital Digital Enablem
Slide 7: Card Brand Information
Card Brand Information Card Brand Fees Information Visa Fixed Acquirer Fixed monthly fee that is assessed by Visa based on number Network Fee (FANF) of merchant locations, Merchant Category Code, method of card acceptance, and gross monthly sales volume. Visa US Acquirer Fee assessed on Visa authori
Slide 8: Commonly Used Terms
Commonly Used Terms Common Term Definition AVS Address Verification Service – perform more secure transaction when cardholder is not present by verifying the address given for shipping matches that for where the cardholder’s statement is sent. Compliance 101 TSYS’s PCI Partner – Offers online Self-
Slide 9: Commonly Used Terms
Commonly Used Terms Common Term Definition EBT Electronic Benefits Transfer – a means of electronically disbursing government funded benefits using ATMs and POS equipment EMV EuroPay/MasterCard/VISA – a global transaction security standard designed to prevent duplicate card fraud through chip-embedd
Slide 10: Commonly Used Terms
Commonly Used Terms Common Term Definition Requirements Level II Data Information required by • Tax Amount commercial card issuers • Invoice Number for a transaction to • Customer Code/ qualify at lower Purchase Order Number interchange rates. • Tax ID • Customer Service Number Level III Data Inform
Slide 11: Commonly Used Terms
Commonly Used Terms Common Term Definition MID Merchant Identification Number – used to identify the merchant during processing of any and all transactions. NFC Near Field Communication – technology that uses short-range wireless communication to initiate a connection between devices to pass data. P
Slide 12: Contact Us!
Contact Us! If you would like to learn more about Meridian’s Merchant Services or need assistance understanding a merchant proposal or statement, please visit our website at meridianbanker.com or email us at merchant@meridianbanker.com. We look forward to hearing from you! Gregory P Herrmann AVP, Tr