We’ve provided this extensive glossary of terms used in the payments industry as a useful resource to help you understand the jargon we all hear. If there’s one missing you’d like to see added, advice please email it to tory.batten@yourgx.com

Glossary for: Payments

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  • (

  • (DCVV)
  • 3

  • 3-D Secure
    The technical standard developed by Visa and MasterCard put in place to eliminate online Credit Card fraud. Cardholders who register to Verify by Visa
  • a

  • ATM & Card Issuing Members Connectors Services
    The provider of the IT infrastructure that connects the ATMs of the LINK network to card issuing members.
  • Acceptance Mark
    A graphic symbol (typically that of a Card Brand, prescription i.e. American Express, cialis Discover, order MasterCard, Visa or a debit network) that indicates the terminals at which a Payment Card (i.e. credit, debit, prepaid) or other Access Device may be used. The Acceptance Mark also(...)
  • Access Device
    A plastic card with a Magnetic Stripe or Chip, viagra sale or another Form Factor that facilitates access to prepaid funds, enabling a Cardholder to obtain goods, services or cash from a Merchant.
  • Account (HRA)
  • Account Number
    Each card is assigned to an account that has its own unique Account Number. This is different from the card PAN (Primary Account Number; typically a 16 or 19 digit number displayed across the front of the card). The Account Number, medicine which is not displayed on the card, allows multiple(...)
  • Acquirer
    A company or financial institution that contracts with Merchants to accept payment cards (including Prepaid Cards) as payment and directly or indirectly enters the resulting transaction receipt into Interchange. Not all acquirers may support all types of these, stomach but may support some
  • Acquirer Processor
    A platform that acquires financial transactions from ATMs, unhealthy POS terminals etc. The Processor then sends these via a Switch/Scheme to the Issuer Processor for Authorisation and settles the authorised transactions.
  • Acquiring Scheme Member
    A licensed member of MasterCard and/or VISA who receives all bank card transactions from the Merchant (the entity that sells goods or services in an online or physical environment sometimes referred to as a Retailer) or Merchant Aggregator (an entity that pools transactions from retailers to(...)
  • Activation
    The process of enabling a card for use. Generally payment cards cannot be used until they are activated. For Gift Cards this is usually done at the Point-Of-Sale (POS), cheap when the card is first purchased or loaded with funds. For Network Branded cards, Activation is usually carried out(...)
  • Activation Point
    A device located in a retail location where cards (this is usually a service offered for Prepaid Cards) can be activated or loaded with funds.
  • Added Value Service
    Service that adds value to the end Cardholder and enhances the product offering through loyalty or promotions etc. This may be paid for or given free of charge. In the prepaid and emerging payments sphere of application, sales it generally refers to a range of services such as promotions, try(...)
  • Address Verification Service (AVS)
    A fraud deterrence service through which a Merchant may verify a Cardholder
  • Agent
    An entity that acts as a Third Party, drug for a Prepaid Card Issuer, providing payment-related services, directly or indirectly, such as: Conducting Cardholder solicitation, Card application processing services or customer service ,? Conducting Merchant solicitation, sales, customer(...)
  • Aggregator
    A Distribution Channel for Prepaid Cards or Gift Cards. The Aggregator pulls together a range of retailer gift and anonymous Open Loop cards and makes them available to consumers either online or in physical retail environments through Card Malls.
  • Anonymous Card
    A Prepaid Card for which no personal Cardholder information is collected or verified. A Generic Identifier typically is embossed or printed as a replacement for the Cardholder
  • Anti-Money Laundering (AML)
    The legal controls that require financial institutions and other regulated entities to prevent or report suspected money laundering activity. A bank, buy for example, must perform due diligence by verifying a customer
  • Application Programming Interface (API)
    A collection of requests that facilitate real-time automated or system-to-system communication between a source and destination platform. For payment cards, prescription a fully functional API supports monetary (e.g., hospital load, reload, unload or withdrawal) and non-monetary (e.g.,(...)
  • Authentication
    The process of verifying the claimed identity of an individual. This is a concept in the Open Loop world.
  • Authorisation
    An Issuing Bank
  • Authorisation Hold or Pre-Authorisation Transactions
    A temporary freeze on funds associated with a card purchase transaction, link reducing the balance available to the Cardholder. For some purchases (e.g., prostate for a purchase at pump at a petrol station), an Authorisation Hold may be greater than the purchase amount. Authorisation Holds(...)
  • Auto Adjudication
    A process associated with health care claims using Prepaid Cards in the United States to access funds in Flexible Spending Accounts (FSAs), tadalafil Health Savings Accounts (HSAs) and Health Reimbursement Arrangements (HRAs). Using a rules-based system, Auto Adjudication verifies Cardholder(...)
  • Automated Clearing House (ACH)
    An electronic payment network typically used to process batch debit and credit transfers between financial institutions. ACH transactions function like electronic cheques that are settled (paid) within one or two business days, sovaldi sale using procedures that are similar to paper cheque(...)
  • Automatic Teller Machine (ATM)
    A machine terminal that carries out functions such as dispensing cash, check balance enquiries, checking deposit acceptance, and mobile top ups.
  • Available Balance
    The amount of funds held on the card or wallet that may be accessed and used by the Cardholder. The Available Balance excludes any Authorisation Holds. Also referred to as Open to Buy.
  • b

  • B2B (Business to Business)
    A Distribution Channel that allows one company
  • B2B2C ( Business to Business to Consumer)
    Payment products that are sold from one business to another, sick which then distribute the payment product to an end consumer. For example a petroleum company could sell their cards to a car manufacturer to give to end consumers when they purchase a car as an incentive or to differentiate(...)
  • B2C (Business to Consumer)
    A Distribution Channel that allows a company
  • B2Gov
    A Distribution Channel that allows a company
  • Badge
    A term sometimes used to refer to a Network, ailment due to the logo or badge of the Network being featured on the card. This can be one of the international payment networks like Visa and MasterCard or local debit networks in country.
  • Balance Inquiry
    A transaction used to determine the Available Balance on a card. Cardholders can typically conduct a balance inquiry online or by telephone via an IVR or SMS text messaging services. Some Merchants may be able to use their electronic cash registers/point-of-sale terminals to conduct a Balance(...)
  • Balance Notification via Text (SMS)
    A feature that sends a card
  • Bank
    A financial institution that is regulated by the relevant financial services authority. In most cases they will also be licensed deposit-taking institutions.
  • Bank Identification Number (BIN)
    The first six to eight digits of a PAN (Primary Account Number
  • Bank Identification Number (BIN) Range
    Many BINs will be split down into sub-BINs or BIN Ranges to enable multiple card Programmes to be run on a single BIN but for different partners. All Programmes running on a BIN, stomach however, must be of the same type (i.e. credit, debit/prepaid).
  • Bank Identification Number (BIN) Sponsor
    Regulated entity that is
  • Bank Secrecy Act (BSA) - US only
    Enacted in 1970 as the Currency and Foreign Transactions Reporting Act, seek but commonly known as the Bank Secrecy Act (BSA). The BSA establishes requirements for reporting and record keeping by private individuals, see banks and other financial institutions, and facilitates identifying the(...)
  • Barcode
    A small image of lines (bars) and spaces that is affixed to retail store items, drugs identification cards, store and postal mail to identify a particular product number, person, or location. The code uses a sequence of vertical bars and spaces to represent numbers and other symbols.
  • Batch Load
    The addition of funds to cards through processing a batch (or offline) file. This method is used to load multiple cards from a single source. Typically this occurs daily, no rx weekly or monthly. The ACH is often used for batch loads to certain types of cards such as Payroll Cards and(...)
  • Benefits Card
    A card used to distribute (by loading a balance to a card) a wide variety of employment and social benefits. Cards can be controlled to exclude expenditure on specific product categories (such as alcohol, mind gambling etc.) or to ensure that certain products are purchased from set locations.
  • Biometrics
    A set of methods for uniquely recognising humans, viagra based on one or more intrinsic physical traits. Biometrics are used to check the identity of an individual against fingerprints, facial and iris recognition, DNA and other physiological characteristics already registered on file.
  • Breakage
    The unredeemed or unspent funds on a gift or Prepaid Card at the point of expiry of the card.
  • Broadcast
    The technical action of sending out information in some form such as via cable, pill satellite or internet to consumers/users.
  • c

  • CR80
    The standard size (85.60mm x 53.98mm) of most plastic card payment products.
  • Call Centre Agent Creation/Registration
    A telephone-based process in which an employee of the Call Centre interacts with the prospective Cardholder and captures information into an application to create an account and register certain personal details.
  • Call Centre IVR Creation/Registration
    A telephone-based process (IVR
  • Campus/College/University Card
    A card provided by a College, troche University or other educational organisation for the purpose of distributing student funds.
  • Card Brand/Badge
    These can be International brands or in-country debit Schemes. Examples include, order American Express, Discover, MasterCard, Visa or the ATM/EFT Networks. Collectively they can be referred to as the, Card Brands. (Also referred to as Brand or Card Organisation/ Association/Scheme.) The Card(...)
  • Card Load Network
    A network that facilitates payment and acceptance to load funds on a wallet/card or for the payment of a bill.
  • Card Mall
    An area in a retail location set aside for the sale of cards. These cards can be Closed Loop, sickness Open Loop or Restricted Loop Cards and can be retailer or network branded. This is another Distribution Channel used to increase sales of cards. Companies that operate the logistics for(...)
  • Card Manufacturer
    Company that produces plastic cards or alternative physical Form Factors that can be used as Bank Cards, sovaldi sale Gift Cards and Smart Cards. The card manufacturer can also produce the Card Carrier and manage the card production and distribution process end-to-end on behalf of the bank or(...)
  • Card Not Present
    A card transaction where the Merchant has no physical access to the card being used for payment, ambulance such as when the purchase is made on paper or by phone. See MOTO.
  • Card Number
    See Primary Account Number (PAN).
  • Card Security Code (CSC)
    Security features to ensure the Cardholder has the physical card when making Card Not Present transactions. There are generally two on a card, mind one on the mag stripe and valise when the card is read in a card present transaction and one printed on the card and used in card not present(...)
  • Card Transaction Report
    An electronic or paper document generated by a Processor, pharm identifying each card transaction processed during a defined period.
  • Card-to-Card Transfer
    A transaction that moves funds directly from one card account to another. Card-to-Card transfers are usually offered with Remittance Card or Payroll Card products, help where a family member may provide a card to another family member, capsule such as a parent, spouse or child, and transfer(...)
  • Cardholder
    An individual who is issued, story given and authorised to use a payment instrument by a financial institution or Merchant for the payment of goods or services.
  • Cardholder Agreement
    The written agreement between the Issuer and a Cardholder, recipe together with any amendments, modifications or supplements, that sets forth all rules, fees, terms, limitations and conditions of use for the payment instrument. The Cardholder Agreement is typically available in print, as part(...)
  • Cardholder Fees
    The fees Cardholders pay associated with their card. The types and amounts of Cardholder Fees (if any) are typically related to the type of card/product type. Fees may include a purchase fee, remedy monthly maintenance fee(s), physician reload and/or ATM use fee(s), diagnosis amongst(...)
  • Cardholder Funds
    Funds loaded to cards that operate from a balance and available for use by Cardholders.
  • Carrier
    A marketing instrument that a Form Factor is attached to for display purposes or to allow a Form Factor to be posted physically to the end recipient. These are sometimes referred to as J-Peg or J
  • Cash Access
    A feature of some cards that enable a Cardholder to use the card to access cash typically via an ATM or at participating financial institutions or Merchants. Whether a card offers Cash Access is generally related to the type of product issued. Gift Cards and some Benefit Cards, recipe rarely(...)
  • Cash Card
    A reloadable Network Branded card that can be used by consumers for day-to-day spending, ed usually purchased for personal use. Can be topped up using different methods (see also Unbanked Card and General Purpose Prepaid Card). Also used to refer to cards that can be used to withdraw cash at(...)
  • Cash-Out Transaction
    A transaction that reduces the Available Balance of a Prepaid Card to
  • Cashback at POS
    Some debit branded cards can allow Cashback at POS in participating retail environments. This is desirable from an Issuer
  • Chargeback
    A procedure initiated when a Cardholder disputes a purchase or when the Merchant does not follow proper procedures. The Issuer and Acquirer research the facts to determine which party is responsible for the transaction. As a result of the investigation, unhealthy the purchase may be reversed(...)
  • Chargeback Right
    The right, tadalafil under Card Brand rules, capsule of Cardholders to dispute transactions made using their cards. Examples include non-delivery of products, non-performance of services, or fraudulent or unauthorised transactions, among others, made using the card.
  • Checksum
    A value calculated using a defined algorithm applied to a block of data and used to validate that data has been transferred without error. A checksum is included as the last digit of many card numbers and can be used, order for example, to validate a card number that has been manually keyed.
  • Chip
    When encoded to present data according to EMV (Europay, nurse MasterCard & Visa), the chip can be used as part of a payment card or inserted directly into an NFC enabling device, e.g. phone or watch.
  • Chip & PIN
    Chip & PIN is the brand name adopted by the banking industries in Europe for the rollout of the EMV Smart Card payment system for credit, recipe debit and ATM cards. Cards referred to as Chip & PIN cards have a Chip and require a PIN to be used in order to authorize transactions. In Europe,(...)
  • Claim Card
    A card provided by an Insurance Company/Third Party Administrator (TPA) for the purposes of paying claims.
  • Clearing House
    A common processing mechanism through which market operators exchange instruction/information for funds, site securities or other instruments.
  • Closed Loop Card
    Cards issued by a single corporate entity which can only be redeemed within that entity, cure e.g. Retail Gift Cards.
  • Co-Branded Card
    Any Network Branded Card that is offered by an Issuer or Programme Manager in conjunction with a retail Merchant or other non-financial institution. These cards carry the network brand and are usually heavily branded with the Merchant
  • Commercial Card
    A card designed to access funds to pay for the acquisition of business-related goods and services. These can be operated on a credit or prepaid basis.
  • Commercial or Corporate Issued/Loaded
    A card issued and/or loaded by a commercial or corporate entity rather than the end Cardholder or consumer.
  • Compliance
    Term for general laws and legal processes or procedures that must be followed in order to comply with various in-country, pill Scheme/association or banking regulations.
  • Consumer Driven Health Care (CDHC or CDH) - US only
    Health insurance plans that allow participants to draw on tax advantaged funds in FSAs, sickness HSAs and HRAs to pay routine health care expenses directly. This system of health care is referred to as
  • Consumer Social Network
    A social networking service is an online service, treat platform, recipe or site that focuses on facilitating the building of social networks or social relations among people who, for example, share interests, activities, backgrounds, or real-life connections.
  • Consumer-Funded Card
    A segment of cards based on the funding source. Consumer-Funded Cards carry funds where the source is a consumer rather than a corporate or government entity. Examples include Gift Cards, ambulance Travel Cards and General Purpose Reloadable Cards.
  • Contactless Card
    A proximity card/Smart Card which can be "read" without inserting it into a reader device, search but instead by holding it near an electronic reader unit for a moment.
  • Controlled Loop
    See Restricted Loop.
  • Core Banking System
    A core banking system is the back-end data processing software and hardware that allows all the daily transactions to be processed on account balances and includes links to the networks/schemes/associations for Authorisation and settlement.
  • Corporate Incentive Card
    A type of card given to employees, order clients or customers as an incentive or reward for achievements, tasks or accomplishments. Also known as a Rewards Card.
  • Corporate-Funded Card
    Corporate-Funded Cards are funded by businesses, treatment primarily to replace less efficient and often more costly paper-based products. Examples include Rewards Cards, Incentive Cards, Rebate Cards, Purchasing Cards, Travel & Entertainment and Payroll Cards.
  • Credit Card
    A card issued by a financial institution giving the Cardholder the option to borrow funds. Credit Cards charge interest and payment of at least a minimum amount of the total outstanding balance is required monthly.
  • Customer Service
    The touch points required to service a Prepaid Card Programme. This can include, viagra sale but is not limited to, ambulance IVR, web based customer service portal to load, view transactions etc., load networks, lost and stolen card processing, complaints handling, fraud monitoring and(...)
  • d

  • Database Solution Provider
    Provides data on consumers that can be used to verify/check on who they are and on transactions they have made.
  • Debit Card
    An electronic card issued by a bank to its customers to provide access to their account for the withdrawal of funds to pay for goods or services.
  • Decoupled Debit Card
    A Debit Card that is not issued by, for sale and not tied to, a particular retail financial institution such as a bank or credit union but accesses funds real time from the third party
  • Destination Retailer
    A retailer earning commission from the sale of cards from external (Third Party) Issuers located in a Gift Card Mall or other sales device placed within its stores.
  • Digital Distribution
    The digital, patient mostly online, delivery of media content such as mobile top-ups and gaming credits, lottery tickets and Gift Cards.
  • Digital Payment Service Provider (PSP)
    Sometimes also referred to as an e-commerce gateway. An e-commerce application service provider is the physical gateway that aggregates payments prior to passing them through to Acquirers for online transactions from Merchant websites. They will often also carry out a number of additional(...)
  • Digital Receipt
    An electronic receipt sent to the shopper by email.
  • Direct Deposit
    An electronically originated (non-cheque) deposit to a person
  • Direct Express - US only
    A Prepaid Card programme initiated by the US Department of the Treasury to distribute Social Security benefits primarily to unbanked recipients for whom Direct Deposit of benefits to a bank account is not an option.
  • Distribution Channel
    A route to market for the sale of Open or Closed Loop cards. This can be for any third party, and such as Aggregators and any entity that is not the original issuing party.
  • Distributor
    A company that manages the commercial relationships, buy physical transactions and physical distribution of Prepaid Cards sold in a Destination Retailer through a Gift Card Mall on behalf of Issuers.
  • Domestic Use Only
    Cards that are restricted due to regulation or Issuer desire so that they can only be used in the market where they are issued.
  • Dual-Message
    A card transaction in which the Authorisation request and financial settlement are handled in 2 separate messages. The Authorisation segment of the transaction is typically conducted online and in real time. The financial settlement segment may not be complete until 24 to 48 hours after the(...)
  • Dynamic Card Verification Value
    An encrypted calculated value generated by a contactless payment device and included in the
  • Dynamic Currency Conversion (DCC)
    Enables a Cardholder to use the card to pay for goods and services abroad but in the Cardholder
  • Dynamic Physical Expiration
    System functionality that determines the Expiration Date for the card based on a formula from the date of creation (such as 12 months + month of creation). Based on Card Brand rules, check this date is embossed or printed on the card, encoded on the Magnetic Stripe and stored on the Host System.
  • e

  • E-Cart
    An electronic commerce tool (software or service) that is the user interface for the customer to shop at online stores. It allows users to place items in a Shopping Basket, find and the cart remembers these items for a predetermined length of time.
  • E-Code
    A unique account number tied to a balance of stored credit that can be used to make online purchases.
  • E-Money Licensed Issuer (EMLI)
    Provider of payment solutions that is registered with relevant local financial services authority.
  • E-Receipt Manager
    Companies creating
  • E-Tailers
    Online retailers/shops which allow consumer to purchase goods/services remotely over the internet using a device such as a smart phone, troche tablet or desktop.
  • E-Wallet
    A digital account where funds may be held for the payment of goods or services or containing cards which have their own funds capability. The E-Wallet can be a card Aggregator hosting multiple card balances in general, rx including Closed and Open Loop cards and other payment or loyalty(...)
  • E-money - EU only
    The type of prepaid products that are regulated by the E-money regulations in the EU and have to conform to a number of strictly defined controls.
  • EMV
    EMV stands for Europay, there MasterCard and VISA, cheap a global standard for inter-operation of integrated circuit cards at capable POS Terminals and automated teller machines (ATMs), for authenticating Credit, Debit and Prepaid Card transactions.
  • EPOS/POS Hardware
    Self-contained computerised equipment that performs all payment tasks required a store checkout counter. It allows payments by bank or Credit Cards, cure verifies transactions, clinic provides sale reports etc. EPOS/POS hardware provides card acceptance as part of an acquiring relationship.
  • Electronic Benefits Transfer (EBT)
    The electronic delivery of government benefits using payment cards including Prepaid Cards and/or mobile phones. For example in the US, medical the Food Stamp Programme (now called SNAP) has been delivered exclusively by Prepaid Cards since the late 1990s. (The cards were introduced to(...)
  • Electronic Funds Transfer (EFT)
    Networks
  • Electronic Statement (E-Statement)
    Also referred to as an E-Statement, cialis this is a functional alternative to a traditional paper statement because it provides current information and may be accessed easily at any time by the Cardholder. It acts as a record of transaction activity and other information, such as balances(...)
  • Embedded Antennas
    Antennas directly integrated into a system such as a Terminal, decease mobile phone or a tablet. In most cases, prostate this antenna is matched to the system and cannot be used in other applications. In the case of an NFC enabled device, the antenna works as a security element for the(...)
  • Embossed
    The data on the face of the card is raised above its surface. It is used to print the card number, patient start and expiry date on the card and the Cardholder name.
  • Employee Benefits
    A card used by employers and benefit administrators to give employees convenient access to benefits such as payment of health care, buy moving expenses, tolls or transit costs, or meal vouchers.
  • Encoding
    Data embedded in the magnetic stripe or chip during card production that is unique to the card and is required to facilitate a transaction.
  • Encryption
    The use of cryptographic algorithms to encode clear text data (plain text) into cipher text to prevent unauthorised observation.
  • Escheat (or Escheatment)
    The process of transferring unclaimed or abandoned property to a state or government authority. In the case of Prepaid Cards, hospital this means card funds which remain unredeemed or unspent after a specified period of time (see Breakage). The requirements for Escheatment vary from one(...)
  • Expense Analysis
    Collates, unhealthy stores and sorts receipts to enable users to manage them for future reference and current management.
  • Experience Card
    A type of card (often a Gift Card) that entitles the holder to an experience such as a day at a spa or theme park or a round of golf. These cards are not denominated in a cash value but in an experience.
  • Expiration Date (Expiry Date)
    Date after which a card can no longer be used. Most Network Branded Cards have an expiration date. Some Closed Loop or Limited Network cards expire after a certain period of inactivity or after a certain date, sickness although this is becoming increasingly rare. Any funds remaining on the(...)
  • f

  • FX (Foreign Exchange) Card
    Sometimes referred to as a Travel Money Card. These are usually offered in multiple currencies at point of purchase. Conversion from one currency to another occurs at point of load and then when transacting abroad the balance is in the Cardholder
  • Face Value
    The original amount loaded onto a Prepaid Card.
  • Federally Chartered Financial Institution
    Financial institutions (US) holding a federal or national charter and regulated by the Office of the Comptroller of the Currency.
  • Fixed Denomination Card
    A Prepaid Card, discount often a Gift Card, issued in a specific amount such as
  • Flexible Spending Account (FSA)
    A Prepaid Card Programme administered by an employer, medical in accordance with the IRS requirements, which permits employees to set aside pre-tax dollars to pay qualified out-of pocket medical expenses not covered by the employer
  • Float
    The total amount of unredeemed card balances held on behalf of a group of Cardholders for an Issuer. Typically, patient a Closed Loop or anonymous Prepaid Card is not linked to a personal account but to a float account in which all Cardholders
  • Floor Limit
    The amount of money above which transactions must be authorised, ask either automatically via real-time Authorisation or manually at the POS by the Merchant. The limit can vary from store to store. Floor Limits do not apply to certain types of Debit Card (such as Visa Debit), as these cards(...)
  • Form Factor
    The physical/tangible form that the carrier of Prepaid Card value takes. Form Factors include plastic cards, story paper cards, paper vouchers, mobile handsets, email attachments, watches and key fobs.
  • Fraud Risk AML Engine Platforms
    A platform that monitors transactions and uses other databases and data points to identify anomalies that could be fraudulent or risky transactions. For AML it may check against key third party databases e.g. OFAC.
  • Fulfilment
    The process from the point plastics are ordered until they are in the hands of the end recipient. This can also be described as
  • Funding Load
    See Load.
  • Funding Source
    There are three basic funding sources for Prepaid Cards: consumer (typically via cash, viagra cheque, bank transfer, Credit or Debit Card); corporate/business (typically corporate cheque or ACH transfer); and government (typically ACH transfer). The Funding Source is often considered an(...)
  • g

  • Games Consoles
    An interactive entertainment computer or customised computer system that produces a video display signal which can be used with a display device (a television, sovaldi sale monitor etc.) to display a video game.
  • Gaming Card
    Refers to two types of cards. The first is for online betting and casino-style games, medicine directed at adults without a bank account or who wish to spend anonymously and have more control on the amount they spend. Also known as Gaming Payout Cards, these cards cannot be consumer-loaded(...)
  • Gateway SMS/USSD (Unstructured Supplementary Service Data)
    An SMS Gateway allows customers to pay for virtual goods and services using their mobile phone through an SMS based payment. Usually it does not need any bank account or Prepaid Card linked to it as the money is debited to the consumer
  • General Purpose Reloadable Card (GPR)
    An Open Loop or Network Branded card whose sole purpose is to facilitate normal spending transactions, pilule with functionality similar to a Debit Card but without the need for a bank account. Consumer benefits include helping with budgeting, preserving anonymity, enabling internet purchases(...)
  • Generic Identifier
    A consumer or commercial program that is embossed or printed on the face of a Prepaid Card in lieu of a Cardholder
  • Gift Card
    Monetary equivalent used as an alternative to purchasing actual gifts. It can be Closed, link Restricted and Open Loop depending on how it can be used for purchases at a particular branded store, salve at a group of different branded stores (shopping malls), or for general daily spending(...)
  • Gift Card Mall
    A physical or virtual rack or display unit that allows customers of a Destination Retailer to buy a Prepaid Card issued by a range of different prepaid Issuers. Also referred to as Gift Card Centre and Gift Card Shop.
  • Gift Card Reseller
    A company or individual that purchases unused Gift Cards for below Face Value and sells them on for profit.
  • Gift Certificate/Voucher
    Promissory/Paper Note to be exchanged for goods of services used as an alternative to purchasing actual gifts.
  • Government Benefits Card
    See Government-Funded Prepaid Card.
  • Government Disbursement Card
    See Government-Funded Prepaid Card.
  • Government-Funded Prepaid Card
    Cards funded by government (local or central), healing primarily to replace government benefit cheques for individuals without bank accounts and to improve service to those individuals. Examples include large Programmes such as Food Stamps (SNAP) Cards, Direct Express (for the distribution of(...)
  • Group Buying
    Organisations that try to get a group of people together to buy a single item. The organisation does this in order to negotiate a better purchase price with suppliers of goods and services.
  • h

  • Health Reimbursement
    An employer-funded Prepaid Card Programme that reimburses employees, sovaldi in accordance with the IRS regulations, for qualified out-of-pocket medical expenses not covered by the employer
  • Health Savings Account (HSA)
    A Prepaid Card programme operated in accordance with the IRS regulations that enable participants of a qualified high-deductible health plan (HDHP) to access funds contributed by an employee, cialis employer, or both, for qualified out-of-pocket health care expenses.
  • High Risk Merchant Category Codes (MCC)
    Designation used to represent Merchant Category Codes that have higher than normal patterns of fraud, sickness abuse or loss for Issuers. Processors/Acquirers may, under certain approved circumstances, decline or refer transactions originating from these MCCs.
  • Host System/Host-Based
    A transaction Authorisation system supported by a central (or host) computer. The Host System typically houses or has access to real-time balances and
  • Hot Card
    A card that has been reported lost or stolen, doctor or is otherwise in jeopardy of being used fraudulently. Hot Cards are typically included on an electronic Hot Card file, which can be used to prevent transactions from being authorised online.
  • Hybrid Card
    A payment card which combines two or more payment features, decease e.g. a prepaid feature and a credit feature, or a debit feature and a credit feature.
  • Hypertext Transfer Protocol Secure (HTTPS) Proxy
    Shows the resultant URL through an existing secure connection.
  • i

  • ISO 7810
    The international standard which defines the format of payment cards. The Smart Card or Magnetic Stripe Card is a plastic card measuring around 85.725 x 53.975 mm (3.375 x 2.125 inches) with a thickness of between 69 > 76/100th < 84.
  • Identity Solution
    Means to identify people through biometric data, site e.g. fingerprint, iris, heartbeat.
  • In-store Mobile
    Mobile commerce and promotions that are developed by retailers and are delivered to consumers whilst they are in the retail chain. These are usually promotional offers, salve coupons for discounts or alerts on new product arrivals.
  • Incentive Agency
    A company that provides services that enable its clients to reward employees with incentives or to motivate a change in behaviour of its employees.
  • Incentive Card
    Cards which can be loaded by an employer and then distributed to selected employees as part of an incentive scheme. They can be issued by a retailer or a third-party agency, medicine and can be Open Loop, Restricted Loop or Closed Loop. See Corporate Reward and Incentive Cards.
  • Incentive Company
    See Incentive Agency.
  • Independent Sales Organisation (ISO)/Member Service Provider (MSP)
    An Independent Sales Organisation/Member Service Provider is an agency that markets Merchant accounts for card acquiring. To market Merchant accounts, thumb an ISO/MSP must be sponsored by a Member Bank.
  • Instant Issuance
    The ability to instantly issue plastic payment cards and, check where required, personalise these. Instant Issuance cards are generally not personalised with the Cardholder
  • Institution - US only
  • Insurance Card
    A card issued for the settlement of insurance claims which can be used to purchase replacement goods. See also Reimbursement Card.
  • Interchange Fee
    The fee paid to the Issuer of a Network Branded Card for transaction-related costs by the Scheme/Association or Network. A Merchant Service Charge is incurred by the Merchant every time a Card is used to make a purchase or withdraw funds and paid to the Acquirer of the transactions, sovaldi(...)
  • Internet Service Provider (ISP)
    Providing internet connectivity/services to businesses and consumers.
  • Issuer
    The Scheme member and regulated entity which activates BINs who is the Issuer of the payment solution. Regulated by the relevant Financial Services Authority, ailment or equivalent, in each country.
  • k

  • Key
    Security code used as part of the file exchange process between a Card Manufacturer and Processor/System to ensure data security for personal information. This is a Scheme compliance requirement for both Chip & PIN and Magnetic Stripe cards.
  • Key Fob
    A type of security token: a small hardware device with built-in authentication mechanisms. The mechanisms in the Key Fob control access to network services and information.
  • Kiosk
    Kiosks, sickness including touch-screen kiosks, for sale self-service internet kiosks, interactive information delivery kiosks and kiosk software may offer a range of functionality including cash acceptance, bill payment and card issuance.
  • Know Your Customer ( KYC)
    A process by which activation of an Open Loop Card requires verification of the Cardholder
  • l

  • Lenticular
    A combination of two or more digital images and a special lens material that creates an animated effect on a card.
  • Level 1/2/3 Data
    There are 3 principal levels of information for a payment transaction. Level 1 (standard): the standard financial data captured for a credit or debit card transaction. Level 2 (summary VAT): Level 1 plus a customer reference code and summarised VAT total. Level 3 (line item detail): Level 2(...)
  • Limit Control
    Use of a specific amount or a percentage that limits the amount or number of transactions/Loads that can occur within specific time periods; often used as controls to reduce risk for a prepaid Programme. These are sometimes referred to as velocity checks.
  • Limited Network
    Term used in the Second E-Money Directive to describe a type of prepaid Programme, here where the value on the card can be used to acquire goods or services only within the premises used by the Issuer or under commercial agreement, story either within a limited network of Payment Service(...)
  • Load
    Funds added to a Prepaid Card or Access Device to establish or increase the balance available to the Cardholder. Depending on the type of Prepaid Card or device and the Issuer
  • Load Fee
    A fee charged when a Prepaid Card is reloaded with money.
  • Load Limit
    The minimum or maximum monetary value that can be loaded on to a prepaid product. Sometimes also refers to a limit on the amount of funds that can be reloaded over a period of time.
  • Load Merchant
    A Merchant or retail location that participates in a Load/Reload Network and accepts payments for the purpose of funding or reloading a Prepaid Card.
  • Load Network
    A network of retail business locations that have established a secure electronic facility with a Prepaid Card Issuer to accept cash, patient cash equivalent, Credit and/or Debit transaction to add value to a Prepaid Card.
  • Location Service
    A general class of computer Programme-level services used to include specific controls for location and time data as control features in computer programs.
  • Loyalty Solutions
    Package of solutions and promotional offers focused on rewarding loyalty in order to encourage consumer behaviour, medical including the acquisition and retention of customers.
  • m

  • MMS (Multimedia Messaging Service)
    Allows users to send and receive messages containing multimedia content (including images, physician video, audio and text).
  • Magnetic Stripe
    The Magnetic Stripe on the back of a card that contains the card
  • Mail Order Telephone Order (MOTO)
    See Card Not Present.
  • Master and Slave Cards
    An account that has multiple cards where the primary Cardholder dictates the balances held on any secondary cards.
  • Member Bank
    Bank that is linked to a Scheme.
  • Merchant
    A customer of an acquirer is often referred to as a
  • Merchant Category Code (MCC)
    A four-digit number assigned to a business by the Card Brands to classify the business by the type of goods or services it provides.
  • Merchant ID (MID)
    This is required for all businesses that wish to process card payments. It identifies the Merchant
  • Merchant Service Charge (MSC)
    This is the fee charged to the Merchant for an Open Loop transaction. MSC can include an Interchange Fee, see a Network Fee and an Acquirer Fee. The total MSC is determined primarily by the card type, here transaction type, clinic issuing country and the geographic region where the(...)
  • Merchant Services Agreement
    A contract between a Merchant and an Acquirer containing their respective rights, no rx duties and obligations for participation in the Acquirer
  • Middleware
    Software that sits between a Processor and User that provides additional functionality to the end user. Software may be hosted by a range of companies including Scheme, drugs Programme Manager or Retailer.
  • Mobile Banking
    A system that allows customers of a financial institution to conduct a number of financial transactions through a mobile device such as a mobile phone or personal digital assistant.
  • Mobile Network Operator (MNO)
    Provides wireless communications services and owns or controls all the elements necessary to sell and deliver services to an end user including radio spectrum allocation, view wireless network infrastructure, backhaul infrastructure, billing, customer care, provisioning, computer systems and(...)
  • Mobile P2P Platforms
    Mobile P2P refers to Person to Person money transfer carried out through mobile devices which are enabled by software that can be holding an account linked to some form of wallet/account/card or funded through cash.
  • Mobile PSP
    An application that provides the link between retail mobile payments and Acquirers for processing payment transactions.
  • Mobile Point-Of-Sale (mPOS)
    Provides the end-to-end solution including software and hardware to the acceptance of payments using a mobile device to provide network connectivity to the Acquirer. They will integrate to an Acquirer for the transactions to be processed.
  • Mobile Virtual Network Operator(MVNO)
    A wireless communications services provider that does not own the radio spectrum or wireless network infrastructure over which the MVNO provides services to its customers but uses the infrastructure of the MNO.
  • Mobile Wallet (M-Wallet)
    See Wallet. An M-Wallet is where the mobile is an interface to access funds and pay for goods and services online or in a contactless environment. There may or may not be a physical Form Factor also associated with the Wallet.
  • Money Laundering
    The practice of engaging in financial transactions to conceal the identity, cure source or destination of illegally gained money.
  • Money Remittance Platforms
    Virtual infrastructure which allows users to send and receive funds to others as well as paying bills.
  • Money Services Business (MSB)
    Non-bank financial institution including currency dealers or exchangers, buy cheque cashers, Issuers of travellers
  • Multi-Currency BIN
    A BIN designated to be used with Multi Currency Cards.
  • Multi-Currency Card
    A single card with different purses, troche each with its own currency. This enables a single card to hold funds in any of the Scheme settlement currencies and transactions to be routed and authorised in the same currency to avoid fluctuations in foreign exchange.
  • Multi-Retailer Voucher/Card
    A multi-retailer product that is available either via a paper voucher/card or code. This offers the recipient the ability to redeem the product in a range of retail stores and online Merchants.
  • Multiple Purses/Multi-Purse
    A Host System feature that enables multiple balances to be associated with a Primary Account Number. Typically, ambulance each purse has different restrictions associated with the usage of the funds in the purse.
  • n

  • Near Field Communication (NFC)
    Technology that allows a transaction to be made either via a Contactless Card through a card reader, mind contactless Terminal or an NFC element embedded in a mobile device or an NFC tag.
  • Network
    See Payment Network/Scheme.
  • Network Branded Card
    A card that can be accepted as payment by any Merchant subscribing to that Network
  • Network Service Provider (NSP)
    A business or organisation that provides bandwidth or network access by giving access to its NAP (Network Access Point).
  • Non-EMLI (E-Money Licensed Issuer) Payment Solution Provider
    A provider of payment solutions that is not registered as an EMLI. They may manage a third party or have proprietary processing capability.
  • Non-Embossed/Un-Embossed
    A card that is flat with no raised letters or numbers on the surface.
  • Non-Financial Transaction Fee
    A fee assessed for a non-financial activity such as a Balance Inquiry.
  • Non-Personalised Card
    A card that does not include an embossed or printed Cardholder name. A Non-Personalised Card is not necessarily an Anonymous Card, physician as the Cardholder
  • Non-Reloadable Prepaid Card
    A Prepaid Card that does not accept additional Loads. Once the balance is used, sickness the card then expires and cannot be used further or reissued. This can be a Closed Loop or Open Loop Card.
  • Non-Solicitation
    Visa
  • Nonbank Financial
    A financial institution which is generally non-depository (e.g. it does not accept deposits).
  • o

  • Open Loop
    See Network Branded Card.
  • Open to Buy
    See Available Balance.
  • Outsourced Front-End Provider
    An organisation that provides front-end interfaces through which a consumer/user goes to access the payment infrastructure/accounts.
  • Outsourced Service Provider
    Third party Processors who can offer a modular or end-to-end service for Prepaid Cards that includes, unhealthy transaction processing and settlement, customer service, added value services and Programme design and compliance.
  • p

  • Passive Issuance
    MasterCard
  • Patriot Act
    Enacted in 2003, sick the USA PATRIOT Act (also known as the Patriot Act) amends the Bank Secrecy Act (BSA) by, link among other things, diagnosis criminalizing financing of terrorism and by enhancing existing BSA regimes through: (a) Expanding AML Programme requirements to certain(...)
  • Paycard
    See Payroll Card.
  • Payment Card Industry Data Security Standard (PCI DSS)
    A worldwide information security standard created to help payment card industry organisations prevent Credit Card fraud through increased controls around data and its exposure to compromise. The PCI DSS is issued by the Payment Card Industry Security Standard Council (PCI SSC).
  • Payment Institution
    An organisation that provides payment services to consumers and businesses.
  • Payments Network/Scheme
    A company providing the network for acceptance of Credit, medical Debit and Prepaid Cards at the Point-Of-Sale for the routing of transactions to allow Authorisation and settlement.
  • Payroll Card
    A reloadable Network Branded card used for employers to deposit an employee
  • Per Diem Card
    Cards used by businesses to confer funds to staff or contractors to cover their travel or expenses costs. Per Diem (from the Latin, store
  • Perso Bureau
    The personalisation of application data within a card, buy cialis using personalisation commands. This includes printing the PAN number, CV2, sometimes the user name, company etc.
  • Personal Identification Number (PIN)
    A four-to-six digit code used to authenticate the identity of a Cardholder for Point-Of-Sale or ATM transactions.
  • Personalised Card
    A card that has the Cardholder name, decease account number and expiration date embossed or printed on the front of the card.
  • Picture Card Supplier
    A company that offers the capability to change the visual appearance of a card though customised solutions and the inclusion of pictures or video.
  • Point-Of-Sale (POS)
    The point at which a transaction for payment of goods and services takes place. Can also refer to the Terminal, salve device or system which loads and activates Prepaid Cards.
  • Point-Of-Sale (POS) Balance Return
    An Authorisation Response in which a Prepaid Card Issuer provides the Available Balance to the participating Merchants, hospital usually for printing on the transaction receipt.
  • Point-Of-Sale (POS) Software
    Computerised network software operated by a main computer and linked to several checkout Terminals.
  • Point-Of-Sale (POS) Terminal or Device
    An electronic Point-Of-Sale device, check cash register or Terminal, including a customer-activated Terminal, located at the physical premises of a Merchant, Load Merchant and/or Website for Chip & Pin and Magnetic Stripe bank card acceptance. The Terminals process the transaction and send(...)
  • Pooled Account
    Single account used by an Issuer to hold funds associated with its Prepaid Cards. Balances for each Prepaid Card account are maintained in the system of record (generally by the Processor).
  • Portability
    The ability for a Cardholder to have funds loaded to the Payroll Card by multiple employers.
  • Prepaid Access
    The Financial Crimes Enforcement Network (US) defines Prepaid Access as an
  • Prepaid Card
    Any card that operates from a balance where funds must be pre-loaded prior to spending and transactions cannot be authorised above that balance. These cards can be physical or virtual, shop single use or reloadable via multiple funding methods including cash, healing Credit and Debit Cards,(...)
  • Primary Account Number (PAN)
    This is the long number (normally 16 or 19 digit) found across the front of a payment card. This acts as an identifier for that card and allows a Point-of-Sale Terminal and Merchant Acquirer to route the transaction for Authorisation and Settlement of funds. The PAN in the Open Loop world(...)
  • Primary Cardholder
    For accounts where there are multiple cards, story the primary Cardholder is the account owner who is responsible for the account and gives authority for additional cards to be added to the account.
  • Private Label Card
    A card that runs on a Network
  • Processor
    A company (often a third party) appointed by a Merchant, illness Programme Manager or Issuing Bank to handle prepaid or other card transactions. These entities operate the Host Systems to process transactions and have links to the schemes for processing and settlement.
  • Programme
    The set of activities required to issue a payment instrument or financial product. This might include strategy, prescription proposition, mind technology management, BIN Sponsorship, marketing, legal compliance, distribution, customer service, reporting and development.
  • Programme Manager
    The entity responsible for managing the core attribute of the Card Programme in order to assist the client with a range of services such as helpdesk services and other outsourced solution, mind including: integrating the payroll system with the Credit Card Issuer system, providing a simple(...)
  • Promotional Card
    Cards that aim to effect changes in consumer behaviour. This might include spending more, pills testing a new product, pharm remaining loyal or buying a broader or more specific range of merchandise. Although normally issued by retailers to influence their own customers, companies can also(...)
  • Proximity Card
    See Contactless Card.
  • Proximity Mobile Payment
    Payment conducted by the user with a smartphone (or other portable device) to communicate with a POS or mPOS device. The technology employed can be NFC or QR, search and may or may not involve a wallet/gateway service such as Google Wallet.
  • q

  • Quick Response Code (QR Code)
    A matrix barcode (or two-dimensional code), recipe readable by QR scanners, mobile phones with a camera, and smartphones.
  • r

  • Radio Frequency IDentification (RFID)
    A wireless non-contact system that uses radio-frequency electromagnetic fields to transfer data from a tag attached to an object, ailment for the purposes of automatic identification and tracking.
  • Recharge
    See Reload.
  • Redemption
    The act of spending some or all the value on an account accessed by a wallet or physical Form Factor.
  • Reimbursement or Rebate Card
    Cards used by Merchants to repay consumers returning goods that are unsatisfactory, check or as a replacement for goods, cash or cheque rebates.
  • Reissue
    The creation and issuance of a new Prepaid Card linked to the same account or Wallet, medicine generally because the old card has been lost, stolen or has expired. The new card will have a new card number and a new expiry date.
  • Reload
    A transaction that places additional funds onto an already active Prepaid Card based on the card type and minimum/maximum parameters. Also known as Recharge.
  • Reloadable Card
    A Prepaid Card to which value can be added at the retail location where the card was purchased or other cash reload sites, pill financial institution of issuance or through direct deposit of wages, malady tax refunds or other disbursements including Social Security, here child support,(...)
  • Remittance Card
    A card that enables the user to transfer funds to another party, search normally overseas, cialis and often in another currency. No bank is required to transfer the money and the recipient has instant access to the funds made available, either to spend in a retail outlet or to obtain cash(...)
  • Remote Payment
    Refers to payment transactions funded by an account linked to a Prepaid, salve Debit, medical charge or Credit Card (PAN), conducted via SMS, App or Browser, irrespective of user device (mobile phone, tablet, desktop, internet-enabled TV set, desktop computer etc.).
  • Report (SAR) US only
  • Restricted Authorisation Network (RAN)
    The restricted Authorisation network (RAN) is used primarily for Programmes outside or in between the traditional Closed-Loop and Network-Branded, hospital Open-Loop programmes. A RAN, as classified by the networks, is used for building a restricted participating network of Merchants where a(...)
  • Restricted Authorisation Network (RAN) Card
    A card, pharm almost always Gift or Promotional that is accepted for payment at multiple retailers (such as those in a mall or a certain geographic location) but not universally accepted like Network Branded Cards. Often, RAN Cards
  • Restricted Loop
    See RAN.
  • Retailer
    See Merchant.
  • Retailer Branded Card
    A card, physician usually a Gift Card, issued by a Retailer (e.g., a store or an online Merchant) for the purpose of paying for purchases exclusively from the issuing Retailer. Retailer Branded Cards may be available directly from the issuing Retailer (in store or online) or may be sold in a(...)
  • Rewards Card
    See Corporate Incentive Card.
  • s

  • SMS Balance Message
    Notification of the Available Balance on a card using a short messaging system. The message may be sent periodically or after each Authorisation is processed.
  • Sales Agent
    Where a company or individual acts on behalf of a retailer or prepaid Programme Manager or Issuer to sell the product on into new Distribution Channels.
  • Scheme
    A standardised exchange network that banks (Issuer and Acquirer) can use to communicate and exchange transactions effectively, recipe without having to create hundreds of connections between each participant.
  • Secondary Cardholder
    Holds a card attached to an account owned by another person (the Primary Cardholder) and uses the card by their authority.
  • Semi-Open Loop Card
    See Restricted Authorisation Network.
  • Service Fee
    A monthly fee levied to cover the cost of administering and maintaining the card account. This fee is usually deducted from the balance on the card.
  • Short Message Service (SMS)
    The SMS (short message service) provides a mechanism for transmitting short messages to and from mobile phones.
  • Simplified Due Diligence (SDD)
    A piece of legislation that allows an Issuer to issue a Prepaid Card to an individual without the need for KYC checks to be undertaken at the point of purchase as long as any load and purchase activity stays within a specific load amount according to AML regulation. It is generally applicable(...)
  • Single-Message Transaction
    A form of online transaction processing that passes the Authorisation request/response and financial settlement message in one transaction.
  • Smart Card
    A Payment Card embedded with an integrated circuit chip that communicates information to a POS Terminal. Also known as a Chip Card. The money associated with this card is not contained on the card.
  • Social Gaming
    Commonly refers to playing games as a way of social interaction, mind as opposed to playing games in solitude. It usually refers to : ? Social network game, sale games that have social network integration or elements , ? Board games, in which counters or pieces are placed, removed, or moved(...)
  • Spend
    Funds used to pay for purchases. Used as a catch-all for all disbursements, health including purchases, ATM withdrawals and fees applied to the card.
  • Split Tender
    A purchase transaction using two or more different forms of payment. If the Available Balance on a Card is insufficient to pay for the purchase, tadalafil the consumer must offer another form of payment (e.g., cash or another Prepaid Card) to cover the difference. To successfully complete a(...)
  • Stand-In Processing
    Authorisation of a card transaction when the Host is unavailable to provide online, online real-time Authorisation. Stand-In Processing may be planned but also may be unplanned in the event of unexpected downtime by a Host or a disruption in telecommunications. Typically, ask an Issuer will(...)
  • Statement
    A document that lists a Cardholder
  • Store Branded Card
    See Retailer Branded Card.
  • Stored Value Account & Prepaid
    An account where funds must be pre-loaded into it prior to spending.
  • Stored Value Card
    See Prepaid Card.
  • Suspicious Activity
    Form used by all US Financial Institutions to report a known or suspected criminal violation of federal law or a suspicious transaction of $5, sale 000 or more. Filing of SARs is mandated by the BSA and includes prepaid-related activity/transactions/card use. SAR filings related to prepaid(...)
  • Switch
    See Scheme.
  • t

  • Teen Card
    A Reloadable Card aimed at teenagers who are not eligible for standard bank services, see enabling them to make card purchases of goods and services (up to the value loaded on the card). Parents will normally be able to fully monitor and control card usage.
  • Terminal
    See Point-of-Sale (POS) Terminal.
  • Third-Party Administrator (TPA)
    An organisation that processes insurance/health care claims for another entity, seek typically the insurance provider. TPAs assist in administering prepaid health care/Employee Benefits cards in the US.
  • Third-Party Processor (TPP)
    See Processor.
  • Transaction Fee
    Fee assessed for various activities related to a consumer
  • Transaction History
    A record of the electronic activity initiated by a Prepaid Card. Depending on the Prepaid Card type, sovaldi this may include cash withdrawals, purchases, balance inquiries, Value Loads and any other transactions/activity. The Transaction History typically includes the time, date, location(...)
  • Transaction Monitoring
    A detection system that reviews Prepaid Card transactions to identify suspicious activity that may relate to fraud, order money laundering, terrorist financing, drug trafficking or other illicit activities.
  • Transit Card
    A form of electronic ticketing used on public transport to pay for travel.
  • Travel Money Card
    See FX Card.
  • Trusted Service Manager (TSM)
    Helps Payment Service Providers securely distribute and manage contactless services for their customers. It uses the networks of mobile operators remotely by allowing access to the secure element in NFC-enabled handsets. Used for: ? Proximity payment ? Issuance and lifecycle management of NFC(...)
  • Turnkey Programme
    A host system designed to be fully operational at purchase or implementation without further requirement for support, search modification or monetary investment.
  • u

  • Unbanked Cards
    A reloadable Network Branded card that can be used by consumers who choose not to have, tadalafil or cannot get, a regular bank account. Can be topped up using different methods (see also Cash Card).
  • Unbanked/ Under-banked Consumers
    Individuals who have no or limited access to financial services at Banks and other mainstream financial institutions.
  • Unstructured Supplementary Service Data (USSD)
    It refers to Global System for Mobile (GSM) communication technology which links information between a mobile phone and an application program in the network through SMS. The encrypted language can be used as a security element in the case of an NFC transaction not using an embedded antenna(...)
  • v

  • Value Chain
    The entities and components that play a role in making prepaid products available. Typically: Issuer/Issuing Bank, remedy Acquirer, site Programme Manager, Processor, Distributor/Third-Party Seller or Reseller and Card Brand. Some entities fill more than one link in the Value Chain. The(...)
  • Value Load
    See Load.
  • Vertical/Vertical Market/Prepaid
    An application, sale segment or type of Prepaid Cards that serves a certain purpose. Examples of prepaid Verticals include Payroll, Gift, Rewards, Government Benefits, Disaster Relief, etc.
  • Virtual Currency
    Virtual currency is a currency not issued by a national central bank.
  • Virtual Currency Platform Provider
    Software platforms that run and manage virtual currencies.
  • Virtual Gift Card
    It refers to a digital Gift Card which can be used online, ampoule in store, here and sent to the recipients via email or SMS. It carries an activation code through which it is ready for redemption at the associated store.
  • Virtual Prepaid Card
    Funds are accessed via a numbering system rather than a physical Prepaid Card. Funds are held on an account and redeemed online for goods or services.
  • w

  • Wallet
    An electronic account where funds are held. A wallet can include cards that have access to funds rather than funds themselves. Under EU regulation, try the funds are held under E-Money regulations; in other markets, order the account is held under banking regulation and is thus in effect a(...)
  • z

  • Zero Liability
    Mandatory Card Brand rule that protects consumers against financial losses related to unauthorised signature-based transactions involving their lost or stolen Prepaid Cards.