Durango Merchant Services Glossary of Terminology for Merchant Accounts and Payment Processing
Sometimes the payment processing and merchant services process can seem daunting and overwhelming. Do you feel like you have to learn a new language? Are you running into difficult problems because your industry has been labeled “high risk”. Don’t worry! We’re here to help! Below you’ll find our glossary of terms you should know when you’re starting your processing journey.
As always if you have any questions or would like to get started on your free quote, feel free to reach out to us at 1-866-415-2636 or CLICK HERE to apply for your FREE quote!
- “Static” or “Capped” Reserve
- ACH (Automated Clearing House)
- ACH SEC Code Breakdown
- Acquiring Bank
- Address Verification Service (AVS)
- American Express Reason Code A01 – Charge Amount Exceed Authorization Amount
- American Express Reason Code A02 – No Valid Authorization
- American Express Reason Code A08 – Authorization Approval Expired
- American Express Reason Code C02 – Credit Not Processed
- American Express Reason Code C04 – Goods / Services Returned or Refused
- American Express Reason Code C05 – Goods / Services Cancelled
- American Express Reason Code C08 – Goods / Services Not Received or Only Partially Received
- American Express Reason Code C14 – Paid by Other Means
- American Express Reason Code C18 – “No Show” or CARDeposit Cancelled
- American Express Reason Code C28 – Cancelled Recurring Billing
- American Express Reason Code C31 – Goods / Services Not As Described
- American Express Reason Code C32 – Goods / Services Damaged or Defective
- American Express Reason Code F10 – Missing Imprint
- American Express Reason Code F24 – No Cardmember Authorization
- American Express Reason Code F29 – Card Not Present
- American Express Reason Code F30 – EMV Counterfeit
- American Express Reason Code F31 – EMV Lost / Stolen / Non-Received
- American Express Reason Code M01 – Chargeback Authorization
- American Express Reason Code P01 – Unassigned Card Number
- American Express Reason Code P03 – Credit Processed as Charge
- American Express Reason Code P04 – Charge Processed as Credit
- American Express Reason Code P05 – Incorrect Charge Amount
- American Express Reason Code P07 – Late Submission
- American Express Reason Code P08 – Duplicate Charge
- American Express Reason Code P22 – Non-Matching Card Number
- American Express Reason Code P23 – Currency Discrepancy
- American Express Reason Code R03 – Insufficient Reply
- American Express Reason Code R13 – No Reply
- Annual Fee
- Application Fee
- Authorization
- Authorize.net Advanced Fraud Detection Suite
- Authorize.net Digital Invoicing System
- Authorize.net Recurring Payments Feature
- Authorize.net Secure Customer Data Feature
- Authorize.net Simple Checkout
- Average Ticket Size
- Batch Out
- Batch Processing Credit Card Transactions
- Batch Upload
- Card Issuing Bank
- Card Not Present
- Card Present
- Chargeback Reason Code 93: Visa Fraud Monitoring Program
- CVV/CVV2/CCV
- Debit Cards
- Decline Code 01: Refer to Issuer
- Decline Code 02: Refer to issuer (special condition)
- Decline Code 04: Pick up card (no fraud)
- Decline Code 07: Pick up card (fraud)
- Decline Code 10: Partial Approval
- Decline Code 12: Invalid Transaction
- Decline Code 13: Invalid amount
- Decline Code 14: Invalid Account Number
- Decline Code 15: No Such Issuer
- Decline Code 19: Re-enter Transaction
- Decline Code 1A: Additional customer authentication required
- Decline Code 21 No Action Taken
- Decline Code 25: Unable to locate record in file
- Decline Code 28: File temporarily not available for update or inquiry
- Decline Code 41: Lost Card, Pick Up
- Decline Code 43: Stolen card, pick up
- Decline Code 51: Insufficient Funds
- Decline Code 52: No checking account
- Decline Code 53: No Savings Account
- Decline Code 57: Transaction Not Permitted—Card
- Decline Code 59: Suspected Fraud
- Decline Code 61: Exceeds approval amount limit
- Decline Code 62: Invalid/restricted service code
- Decline Code 63: Security violation
- Decline Code 64: Transaction does not fulfill AML requirement
- Decline Code 65: Exceeds withdrawal limit
- Decline Code 76: Unsolicited Reversal
- Decline Code 78: Blocked, first use
- Decline Code 82: Negative CAM, dCVV, iCVV, or CVV results
- Decline Code 85: No reason to decline
- Decline Code 86: Cannot verify PIN
- Decline Code 91: Issuer or switch unavailable
- Decline Code 92: Unable to route transaction
- Decline Code 93: Transaction can’t be completed—violation of law
- Decline Code 96: System Error
- Discount Rate
- Discover Chargeback Reason Code 05 – Good Faith Investigation
- Discover Chargeback Reason Code AA – Does Not Recognize
- Discover Chargeback Reason Code AT – Authorization Noncompliance
- Discover Chargeback Reason Code AW – Altered Amount
- Discover Chargeback Reason Code CD – Credit / Debit Posted Incorrectly
- Discover Chargeback Reason Code DP – Duplicate Processing
- Discover Chargeback Reason Code IN – Invalid Card Number
- Discover Chargeback Reason Code LP – Late Presentment
- Discover Chargeback Reason Code NF – Non-Receipt of Cash from an ATM
- Discover Chargeback Reason Code PM – Paid By Other Means
- Discover Chargeback Reason Code RG – Non-Receipt of Goods, Services, or Cash
- Discover Chargeback Reason Code RM – Cardholder Disputes the Quality of Goods or Services
- Discover Chargeback Reason Code RN2 – Credit Not Processed
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