Glossary of Terms

This page is a handy reference for many of the terms and abbreviations used throughout these documents and the credit card processing industry.

A

Access Control

The process of ensuring that systems are only accessed by those authorized to do so, and only in a manner for which they have been authorized.

Account Number

A unique number assigned by a financial institution to a customer. On a credit card, this number is embossed and encoded on the plastic card.

Acquirer

A bank or company that acquires data relating to transactions from a reseller or card acceptor for processing.

Acquiring Bank

A bank that receives the credit card transactions and the settles with the issuing banks. Bank that signs up/enables the reseller to process transactions.

Address Verification Service (AVS)

A method of reducing fraud in mail/telephone order transactions by using cardholder billing address information in the authentication request.

American Express

A financial organization that issues their own charge and credit cards. American Express also performs their own transaction processing within their own processing network.

API

Application Program Interface - The interface (calling conventions) by which an application program accesses operating system and other services.

Application Layer

The layer of the ISO Reference Model which provides communications between applications.

Application Security

The provision of security services within user applications running above the Application Layer of the ISO model.

Approval Response

An authorization response received when a transaction is approved.

ASCII

American Standard Code for Information Interchange - The standard system for representing letters and symbols. Each letter or symbol is assigned a unique number between 0 and 127.

Authentication

The process of assuring that data has come from its claimed source, or of corroborating the claimed identity of a communicating party.

Authorization

The act of insuring that the cardholder has adequate funds available against their line of credit. A positive authorization results in an authorization code being generated, and those funds being set aside. The cardholder's available credit line is reduced by the authorized amount.

Authorization Amount

Dollar amount approved.

Authorization Code

A code that the issuer or its authorizing processor provides to indicate approval or denial for an authorization request.

Authorization Date

Date and time that transaction was authorized.

Authorization Only (AuthOnly)

A transaction created to reserve an amount against a credit card's available limit for intended purchases; the settlement may occur within three to seven days, depending on the card type.

Authorized Transactions

Transaction that has been approved.

AVS

Address Verification Service (see above)

B

Bank Account

Bank account number for the reseller to which funds will be deposited.

Bank Identification Number (BIN)

The first six digits of a Visa or MasterCard account number. This number is used to identify the card issuing institution.

C

Card Issuer

Any association member financial institution, bank, credit union, or company that issues, or causes to be issued, plastic cards to cardholders.

Card Reader

A device capable of reading the encoding on plastic cards. (see Magnetic Stripe Reader)

Cardholder Information Security Program (CISP)

An information security standard sponsored and promoted by Visa USA that applies to any organization that stores or handles their credit card account numbers.

Cardholder

An individual to whom a card is issued, or who is authorized to use an issued card.

CCD Format

Cash Concentration or Disbursement: an electronic check payment processing format.

Certificate

A digital identifier linking an entity and a trusted third party able to confirm the entity's identity.

Certification Authority (CA)

A trusted entity issuing certificates confirming the identity of, or given facts associated with, the certificate's subject.

Chargeback

A transaction returned through interchange by an issuer to an acquirer. A transaction may be returned because it was non-compliant with the association rules and regulations or because it was disputed by a cardholder.

Chargeback Period

The number of days from the processing or endorsement date of the transaction that an issuer may initiate a chargeback.

CISP

Cardholder Information Security Program (see above)

Commerce Service Provider (CSP)

Supplies the system and services to establish the back-office infrastructure for businesses. Major aspects include: the processing of secure transactions, the developing and managing of customer relationships, the collecting of payment, and the delivering of products or services over the web. A CSP may provide the following services: buyer authentication, order taking, details of what is for sale in an electronic offer, validation, payment processing (via traditional credit card payment processors), and generation of electronic receipts. (see also Electronic Commerce)

Commercial Cards

Commercial cards is a broad definition for a special class of credit card. They differ from consumer cards in that they frequently offer Level-3 line item detail and special usage controls to the corporate or governmental user. This class of card may also be referred to as Corporate Cards, Purchase Cards, Business Cards, Fleet Cards, Pro-Cards, Travel and Entertainment Cards.

Cookie

A small amount of information stored on a client computer by a Web site that as sent back to the site each time the user visits it. The use of cookies to maintain persistent, client-side state information significantly extends the capabilities of Web-based client/server applications.

Corporate Procurement Card

A Corporate Procurement Card is one type of corporate card. They are typically issued to individuals that have the authority to make purchases on behalf of their corporation. The cards are centrally billed to the cardholder's organization. They may also be referred to as Pro-Cards or Corporate Purchasing Cards. Corporate Purchasing Card

(see Corporate Procurement Card)

CPS

Custom Payment Service

Credit Card Gateway

Credit card or internet payment processing.

Credit Card Number

Unique number assigned to an individual credit card.

Credit Card Processing

The general term for processing transactions against bankcards according to terms defined by Visa or MasterCard.

Credit Card Processor

A company that performs authorization and settlement of credit card payments, usually handling several types of credit cards (such as Visa, MasterCard and American Express). If resellers wish to sell their products to cardholders, they must retain the services of one or more processors who handle the credit cards that the reseller wishes to accept. When a reseller retains the services of a credit card processor, they are issued a reseller ID.

Credit Limit

The dollar amount a cardholder is approved to borrow.

Cryptographic Key

A mathematical term or other parameter used to define how a given algorithm will transform data into cipher text.

Cryptography

The art or science of transforming clear, meaningful information into an enciphered, unintelligible form using an algorithm and a key.

Currency

The form of an amount of money in a transaction. Default is USD for U.S. Dollars. This feature will be used when non-U.S. dollars are used in a transaction.

Custom Payment Service (CPS)

Visa's regulations for the information that must be submitted with each transaction. Transactions must meet CPS criteria in order to qualify for lowest transaction processing fees available. (This is similar to MasterCard's Merit System.)

Customer Code

A 17 digit alphanumeric field that is used with Purchase Card transactions. The code is typically defined by the customer (cardholder) and is used for accounting or project tracking purposes. This field is translated to PO Number unless it is left blank in which case the Invoice is used and if that is blank as well, the Transaction ID is used instead.

CVV2/CVC Code

The CVV2/CVC code is a three-digit number located on the back of Visa and MasterCard credit cards. American Express is also incorporating this security feature by placing a four-digit number on the front of their cards. The code is used for verification purposes and to prevent credit card fraud.

D

Data Capture

A data processing term for collecting, formatting and storing data in computer memory according to predefined fields (customer name, address, account number, etc.). When a terminal reads this information from a plastic card or from entries in a terminal, the information is stored in a computer memory for later output as a hard copy printout or as a soft copy on a CRT display. Also known as Electronic Draft Capture (EDC) or Draft Capture.

Data Encryption Standard (DES)

A cryptographic algorithm adopted by the National Bureau of Standards for Data Security. The algorithm encrypts or decrypts 64 bits of data using a 56-bit key. (see also Triple DES)

Data Integrity

Measures to prevent unauthorized alteration of data.

Debit

A charge to a customer's bankcard account. A transaction, such as a check, automated teller machine (ATM) withdrawal, or point of sale (POS) debit purchase.

Deciphering

Conversion of cipher text back into plain text.

Decryption

Decryption is the process of transforming cipher text back into plain text.

Decryption Key

(see Key)

Deposit

Process of transmitting a batch of transactions from the reseller to the acquiring institution in preparation for settlement.

DES

Data Encryption Standard

Digital Signature Algorithm

A data element allowing the recipient of a message or transaction to verify the content and sender.

Discount Fee

Fee paid by the reseller to the reseller bank or other contracted party for processing the reseller's credit card sales.

Discount Rate

This is the percentage rate that a reseller institution charges the reseller giving deposit credit for handling reseller drafts or electronic sales transmissions. The discount fee is the dollar amount.

Draft Capture

The act of electronically capturing transactions. (see Electronic Draft Capture)

DSA

Digital Signature Algorithm

E

Electronic Authorization

Obtaining authorization for use of a credit card by electronic means, via a computer or telephone.

Electronic Commerce

A system of integrated communications, data management, and security services that allow business applications within different organizations to automatically interchange information.

Electronic Draft Capture (EDC)

A point of sale terminal that reads the information encoded in the magnetic stripe of bankcards. These terminals electronically and capture transaction data, eliminating the need for a paper deposit.

Enciphering

Conversion of plain text into encrypted data (cipher text).

Encryption

The process of transforming clear, meaningful information into an enciphered, unintelligible form using an algorithm and a key.

Encryption Key

When used in the context of encryption, a series of numbers which are used by an encryption algorithm to transform plain text data into encrypted data and vice versa.

End-to-End Security

Application of security measures consistently across a whole data system or process, leaving no weak or vulnerable points.

E-Procurement (or Eprocurement)

Electronic procurement, or electronic purchasing, refers broadly to the technology that automates some or all of the processes related to creating a requisition document, obtaining purchase approval, locating or sourcing a supplier, creating a Purchase Order (PO), and delivering the PO to the supplier.

Expired Card

A card on which the embossed, encoded or printed expiration date has passed.

F

Fleet Card

A specific type of corporate credit card used to purchase goods and services for automobile, aviation, or marine fleets.

Floor Limit

A limited amount that Visa and MasterCard have established for single transactions at specific types of reseller outlets and branches above which authorization is needed.

Fraudulent Transaction

A transaction unauthorized by the cardholder or a bankcard. Such transactions are reported as lost, stolen, not received, issued on a fraudulent application, counterfeit, fraudulent processing of transactions, account takeover, or other fraudulent conditions as defined by the card company or the member company.

Fraudulent User

An individual who is not the cardholder or designee and who uses a card or card account number to obtain goods or services without the cardholder's consent.

G

Government Card

A generic term for commercial purchasing cards issued to federal, state, or local government agencies. Government cards may be purchase, travel or fleet.

Government Payments

An inexact term used to describe either payment received from citizens or businesses by the government, or payments from a government agency to a supplier.

H

HTTP

Hypertext Transfer Protocol

HTTPS

Hypertext Transfer Protocol Ð Secure

Hyperlink

An active cross reference from one resource to another. The cross reference is called active because it is presented in a medium that allows the reader to follow it, for example by mouse-clicking on it. A reader can follow hyperlinks in an HTML document using a web browser, and move easily from one page to the next through a series of documents connected by hyperlinks.

Hypertext Transfer Protocol (HTTP)

HTTP is a client/server protocol for delivering hypertext material across the internet. HTTP is stateless, which means that each time a client makes a request for information from a single HTTP server, each request is treated independently. HTTP servers do not remember the earlier requests which allows the HTTP server to respond to requests quickly.

Hypertext Transfer Protocol Ð Secure (HTTPS)

A variant of HTTP for handling secure transactions. Browsers that support the URL access method, “https,” connect to HTTP servers using SSL (Secure Sockets Layer).

I

Independent Service Organization (ISO)

In the payment systems industry, an ISO is a third party organization that facilitates reseller registration to accept credit cards.

Interchange

The exchange of information, transaction data and money among banks. Interchange systems are managed by Visa and MasterCard associations according to their requirements and are very standardized so that banks and resellers worldwide can use them.

Interchange Fee

A fee paid by the acquiring/reseller bank to the issuing bank. The fee compensates the issuer for the time after settlement with the acquiring/reseller bank and before it recoups the settlement value from the cardholder.

Interchange Rates

Interchange rates are based on baseline costs established by the two bankcard associations, Visa and MasterCard on behalf of their member banks that set foundation costs which make up the reseller's bank card processing fees. Additional fees may be added by the reseller's acquiring bank to reach a final rate called the “discount rate.”

Interchange Reimbursement Fee

One of the following: A fee that an acquirer pays to an issuer in the clearing and settlement of an interchange transaction, based on either the standard (paper-based) rate or an electronic rate. A fee that an issuer pays to an acquirer for making a cash disbursement to a cardholder or check purchaser.

Internet

A global public network consisting of millions of interconnected computers all linked together using the Internet Protocol.

Internet Payment Gateway

An Internet Payment Gateway is a centrally managed service that offers resellers the ability to process credit card transactions. Typically the credit card data uses the Internet as a method of transporting the data from the reseller's systems to the operator of the payment gateway.

Invoice

A unique invoice / ticket/ order number which is limited to 10 digits on the USAePay Payment Gateway. Also known as 'UMinvoice' in the Transaction API.

ISO

Independent Service Organization

Issuer

Any association member financial institution, bank, credit union, or company that issues, or causes to be issued, plastic credit cards to cardholders.

K

Key

When used in the context of encryption, a series of numbers that are used by an encryption algorithm to transform plain text data into encrypted (cipher text) data, and vice versa.

L

Large Ticket Rate

Visa and MasterCard have created special interchange rates to provide an incentive for resellers to process higher transaction amounts. Large ticket transactions are often greater than $100,000.00, and may exceed several million dollars.

Level III

Level III purchase card information refers to the ability to process detailed purchase information with the financial credit card transaction. The supplemental information typically includes data elements like a Customer Code, Invoice and Order Number, Part Number, Item Description, Quantity, Unit of Measure, Unit Price, etc. Level III is a feature associated with purchase card programs. Also referred to as Level-3.

Line Item Detail

The specific information carried in a Level-III purchase card transaction.

M

Magnetic Stripe

A stripe of magnetic information on the back of a plastic credit or debit card. It contains customer and account information required to complete electronic financial transactions. The physical and magnetic characteristics of this stripe are specified in sections 7810, 7811, and 7813 of the International Organization for Standardizations.

Magnetic Stripe Reader

A device that reads information from the magnetic stripe and transmits that information to a transaction processor or computer terminal. Also referred to as a card reader.

Magnetic Stripe Terminal

A terminal that reads the magnetic stripe on a plastic card.

Mail/Phone Order Reseller

A Reseller who conducts most of their transactions via mail or telephone.

MasterCard

MasterCard International Incorporated and all of its subsidiaries and affiliates.

MasterCard Acquirer

A member that signs a MasterCard reseller or disburses currency to a MasterCard cardholder and directly or indirectly enters the resulting transaction receipt into interchange.

MasterCard Card

A card that bears the MasterCard symbol, enabling a MasterCard cardholder to obtain goods, services or cash from a MasterCard reseller or acquirer.

MasterCard Issuer

A member that issues MasterCard cards.

Merit

MasterCard's requirements for obtaining favorable interchange rates. Similar to CPS requirements by Visa.

MO/TO

Mail Order/Telephone Order

Multiple Transaction Processing (Multi-Trans)

Electronic communications process where multiple authorization requests and responses are exchanges during a single phone connection with the third-party transaction processor.

O

On-Us Transaction

A transaction where the issuer and the acquirer are the same. An “on-us” check would be one in which a depositor's check is presented for payment at the same financial institution that carried the account on which the check was written.

Open To Buy Amount

Dollar amount of credit remaining for customer at the time of authorization.

Order Number

A 17 character alphanumeric field that may be used between the reseller and cardholder for tracking purposes.

Overlimit

A term that describes the result when a cardholder has used more credit than he or she had available on the account.

P

Paper Draft

Sales slips, credit slips, cash disbursement slips, drafts, vouchers, and other paper obligations indicating use of a card or card account.

Password

A sequence of characters that allows users to gain access to a restricted system.

Pcard

Abbreviation for Purchasing Card, Procurement Card, or Purchase Card. Also referred to as P-Card.

Personal Identification Number (PIN)

A sequence of digits used to verify the identity of the holder or a token. A kind of password.

Per Transaction Fees

Fees paid by the reseller to the reseller bank or other contracted party on a per-transaction basis.

PIN

Personal Identification Number

Plain Text

Data before the application of a cryptographic algorithm.

Plastic (Card)

A generic term used to refer to any of the various cards issued to cardholders.

Point of Sale (POS)

Location in a reseller establishment at which the sale is consummated by payment for good or services.

Policy

An informal description of desired system behavior. Policies may be defined for particular requirements such as confidentiality, integrity, availability or safety.

POS

Point of Sale

POS System

A system that processes commercial transactions. May be in the form of a card terminal, electronic cash register or specialized software.

Posting

The process of updating individual cardholder account balances to reflect merchandise sales, instant cash, payments or any other charges.

PPD Format

Prearranged Payment and Deposit: An electronic check payment format defined as a credit or debit entry (other than an MTE or POS entry) initiated by an organization pursuant to a standing or a single entry authorization from a Receiver to effect a transfer of funds to or from a Consumer Account of the Receiver.

Presentment

A clearing record that an acquirer presents to an issuer through interchange, either initially (a first presentment) or after the chargeback (a re-presentment).

Primary Account Number (PAN)

The number that is embossed, encoded, or both on a plastic card that identifies the issuer and the specific cardholder account.

Prime Vendor

A general term used in procurement to describe an important supplier. In some cases it may also denote a certain way of doing business with said supplier.

Prior Authorization

An authorization usually done before a transaction takes place. The approved authorization request may be held for an extended length of time before a card is present.

Private Key

A cryptographic key known only to the user, employed in public key cryptography for decrypting or signing information.

Procard

(lowercase) Used by some organizations as an abbreviation for Procurement Card.

ProCard

(uppercase) A company that provides software and services to some issuing banks.

Processing Date

The date on which the transaction is processed by the acquiring bank.

Procurement Card

One type of corporate or commercial credit card. They are typically issued to individuals who have the authority to make purchases on behalf of their organization, expenses are billed to the cardholder's organization. Also referred to as purchase or purchasing cards.

Public Key

A cryptographic key which is used for data encryption and which cannot be used for decryption. Public keys can be freely published.

Public Key Cryptography

A form of asymmetric encryption where all parties posses a pair of keys, one private and one public, for use in encryption and digital signing of data.

Purchase Card

One type of corporate or commercial credit card. They are typically issued to individuals who have the authority to make purchases on behalf of their organization, expenses are billed to the cardholder's organization. Also referred to as purchasing or procurement cards.

Purchasing Card

One type of corporate or commercial credit card. They are typically issued to individuals who have the authority to make purchases on behalf of their organization, expenses are billed to the cardholder's organization. Also referred to as purchase or procurement cards.

R

Receipt

A hard copy document recording a transaction that took place at a point of sale with a description that usually includes: date, reseller name/location, primary account number, amount, and reference number.

Recurring Billing

Transactions for which a cardholder grants permission to the reseller to periodically charge his account number for recurring goods or services.

Reference Number

A number assigned to each monetary transaction in a descriptive billing system. Each reference number is printed on the monthly statement to aid in retrieval of the document, should it be questioned by the cardholder.

Refund

Issue a credit to a cardholder account, usually as a result of a product return or to correct an error.

Request Authorization (auth)

Submits a transaction for Authorization Only. The act of insuring that the cardholder has adequate funds available against their line of credit. A positive authorization results in an authorization code being generated, and those funds being set aside. The cardholder's available credit line is reduced by the authorized amount. See also Authorization.

Reseller

A person or entity that contracts with reseller banks or ISOs to originate transactions and accept credit card payments in exchange for goods or services.

Reseller Agreement

A written agreement between a reseller and a bank containing their respective rights, duties, and warranties with respect to acceptance of the bankcard and matters related to the bankcard activity.

Reseller Bank

Bank that has a reseller agreement with a reseller to accept (acquire) deposits generated by bankcard transactions.

Reseller Category Code

Four-digit classification code used in the warning bulletin, authorization, clearing, and settlement systems to identify the type of reseller business in various stages of transaction processing.

Reseller Depository Account

Demand deposit account established by a reseller with the acquiring bank to receive payment for sales drafts submitted to the bank card plan.

Reseller ID

In the credit card industry, a reseller ID is a number provided to a reseller by a credit card processor when the reseller retains their services. Also referred to as a reseller number.

Reseller Number

A series or group of digits that uniquely identifies the reseller to the reseller signing bank for account and billing purposes. Also referred to as reseller ID.

Retail Reseller

A reseller that provides goods or services in the retail industry, but is not a mail or phone reseller, a recurring services reseller, or a T&E reseller.

Retrieval Request

An issuer's request for a transaction receipt, which could include the original, a paper copy or facsimile, or an electronic version thereof.

Reversal

An online financial transaction used to negate or cancel a transaction that has been sent through interchange in error.

S

Sales Draft

A paper record evidencing the purchase of goods or services by a cardholder.

SDP (SDP Program)

Site Data Protection (Program)

Secure Socket Layer (SSL)

An encryption standard devised by Netscape Communications for secure communication over the World Wide Web.

Settlement

The report of settlement amounts owed by one member to another, or to a card issuing concern. The buying and selling of transactions between the resellers, processors, and acquirers, along with the card issuing entities.

Settlement Bank

A bank, including a correspondent or intermediary bank, that is both located in the country where a member's settlement currency is the local currency, and is authorized to execute settlement of interchange on behalf of the member or the member's bank.

SIC Code

Standard Industry Classification Code

Site Data Protection Program (SDP)

An information security standard sponsored and promoted by MasterCard that applies to any organization that stores or handles their credit card account numbers.

Smart Card

A plastic card containing a computer chip with memory and CPU capabilities. Such a card may be used for identification, to store information or financial amounts, or other forms of data. Also referred to as an integrated circuit card or a chip card.

SOAP

Simple Object Access Protocol - is a protocol for exchanging XML-based messages over computer networks, normally using HTTP/HTTPS. SOAP forms the foundation layer of the web services protocol stack providing a basic messaging framework upon which abstract layers can be built.

Source

Sources include all of the internal system sources in the merchant console - such as the vTerminal or QuickSale - as well as any external sources - such as a Point of Sale system, an eStore or Payment Form.

Source Key

A source key is what authenticates you as a merchant when processing from an outside source. It is also used for reporting by its own name. In order to generate your own unique source key you must log into your merchant console at USAePay.com. From there go to settings→source keys→Add Source button. Please name it, to identify, fill out the appropriate fields and then hit the apply button to generate the key. It will appear as a long string of numbers and letters such as: dgb8otyulg26vm2hYiF8b2q6P7091681 (this is a dummy key and does NOT work). Copy and paste your new key into your outside source such as Shopping Cart, Billing Software, Payment Form, Custom Application, etc.

Source Pin Code

A number set by the merchant which corresponds with a source to provide an extra layer of security.

SSL

Secure Socket Layer

Standard Floor Limit

A floor limit that varies by reseller type. This refers to a limit on the dollar amount for a single transaction above which authorization must be obtained.

Standard Industry Classification Code (SIC)

A system used to categorize businesses by industry group. This system is being replaces by the NAICS Coding system.

Statement

A written record prepared by a financial institution, usually once a month, listing all of the transactions for an account, including deposits, withdrawals, checks, electronic transfers, fees and other charges, as well as interest credited or earned. The statement is usually mailed directly to the card or account holder.

Stored-Value Card

A stored-value card is a credit card sized device, implanted with a computer chip, with stored money value. A reloadable stored-value card can be reused by transferring value to it via an automated teller machine or other device. A disposable card cannot be reloaded.

T

TCP/IP

Transport Control Protocol/Internet Protocol

Transport Control Protocol/Internet Protocol (TCP/IP)

A standard format for transmitting data from one computer to another. TCP deals with the construction of the data, while IP routes the data from one computer to another.

Terminal ID

In the credit card industry, a number provided to a reseller by a credit card processor when that reseller retains their services. Also referred to as a terminal number. A reseller may be assigned multiple terminal numbers, but retain a single reseller number or ID.

Third-Party Transaction Processor

An entity that validates and authorizes credit card purchases. They may also service accounts on behalf of the issuers, emboss cards, and mail cards to the cardholders.

Transaction

Any agreement between two or more parties that establishes a legal obligation. The act of carrying out such an obligation. All activities affecting a deposit account that are carried out at the request of the account holder. All events that cause some change in the assets, liabilities, or net worth of a business. An interaction between a cardholder and a reseller or a cardholder and a member that results in activity on the cardholder account.

Transaction Identifier

A unique 15 character value that Visa assigns to each transaction and returns to the acquirer in the authorization response. Visa uses this value to maintain an audit trail throughout the life cycle of the transaction and all related transactions, such as reversals, adjustments, confirmations, and chargebacks.

Transaction Processor

An entity that validates and authorizes credit card purchases. They may also service the actual accounts on behalf of the issuers, emboss cards and mail cards to cardholders.

Transaction Type

A detail that denotes the type of transaction for reporting purposes.

U

UMkey

This is a USAePay specific placeholder (variable) for the Transaction API. Populate this variable with your source key which is generated from your merchant console at usaepay.com

User Authentication

Process of validating that a user is who they purport themselves to be.

User ID

The identity of the person authorized to log on to the system.

V

Validation Code

A unique four character value that Visa includes as part of the CPS/ATM program in each authorization response to ensure that key authorization fields are preserved in the clearing or settlement record.

Verified by Visa (VPAS)

An integrated authentication system and support for third party verification run by the Visa corporation. See also MasterCard Secure Code.

Visa

Visa International Service Association and all of its subsidiaries and affiliates.

Visa Acquirer

A member that signs a Visa reseller or disburses currency to a Visa cardholder in a cash disbursement, and directly or indirectly enters the resulting transaction receipt into interchange.

Visa Card

A card that bears the Visa logo, enabling a Visa cardholder to obtain goods, services, or cash from a Visa reseller or acquirer.

Visa Commerce

Visa Commerce is a corporate card program that allows buyers and sellers to establish the trading rules supporting their businesses.

Visa Issuer

A member that issues Visa cards.

Visa Reseller

A reseller that displays the Visa symbol all Visa cards.

Visanet

The systems and services, including the V.I.P. system and BASE II, through which Visa delivers online financial processing, authorization, clearing, and settlement services to members.

Voice Authorization

An approval response obtained through interactive communication between an issuer and an acquirer, their authorizing processors, or stand-in processing, through telephone, facsimile, or telex communications.

Void Transaction

Delete all information from a specified transaction.

Void

Nullifies a transaction that has been recorded for settlement, but not yet settled. This removes the transaction from the current batch.

VPAS

Verified by Visa

W

WSDL

The Web Services Description Language (WSDL, pronounced 'wiz-dəl' or spelled out, 'W-S-D-L') is an XML-based language that provides a model for describing Web services.