|Acquiring Bank||A financial institution which maintains a contractual relationship with a merchant; accepts credit card transactions from the merchant and approves credit card transactions from the credit card company.|
|Security Code||A code which is printed on a credit card, debit card, etc. and is used to confirm the identity of the card. On most cards (including Visa, MasterCard and bank cards), the security code corresponds to the final three digits of the number printed in the signature column on the back of the card. On American Express (AMEX) cards, it is usually a 4-digit code printed on the front of the card.
* The security code is also sometimes called Card Verification Code (CVC) in the case of MasterCard cards, and Card Verification Value (CVV) in the case of VISA cards.
|Chargeback||A chargeback occurs when a card holder makes a request to the card issuing company to cancel a transaction which was made against the card. The card issuing company will request from the customer a reason for canceling the transaction. The main reasons for chargebacks are the following:
|e-Commerce||A business model which involves conducting business transactions using the internet, networks, etc.|
|Rolling Reserve||A process which involves withholding a small amount of funds from a merchant's sales proceeds until:
|Merchant||Member Store (Your Company)|