The fee for the use of an online gateway. A gateway must be PCI compliant (a security qualification), and therefore is constantly on guard against a data breach. Banks & processors can ONLY accept electronic transactions from a certified partner for obvious security reasons. Gateways will typically charge a monthly fee and a per transaction

Generic term referring to business done over the web and/or processed electronically.

The online and electronic processing of payments from a customers checking account. eCheck, ACH, and Demand draft are all 3 types of electronic checking payments, all with slightly different regulations and benefits.

The DBA is the name that will appear on your customers credit card bill as the “descriptor.” Having a descriptor that easily reminds your customer of their purchase with you is the BEST way to prevent chargebacks. Be sure to tell your account manager the DBA that your customers will recognize. Often, for internet merchants,

A fee taken by the bank as a percentage of all sales transactions. If the discount rate is 2.39%, for example, the discount rate fee is $2.39 for a $100.00 charge.

Cards issued via Visa usually, that are similar to credit cards, with the main difference that the card is linked to a checking account instead of a revolving line of credit.

Called differently by different organizations, either CVV or CCV, its easiest to remember it by “Card Code Verification.” CVV is a three digit security code that is printed on the back of most credit cards (or 4 digits on the front of AmEx cards). The CVV verification is designed to reduce fraud in the card

A transaction processed by swiping a card through a terminal or by an imprinted and signed credit card slip. When the customer’s card is swiped through a POS terminal, the card information is read through the magnetic stripe and passed along to the processor. Having a card present lowers the risk on transactions as the

A transaction where the credit card is not physically present. This simple fact means that fraud is a possibility, since you cannot verify the true card holder is the one submitting the transaction! For this reason, ALL card not present merchants pay a higher discount rate for these transactions, even merchants selling low-risk products like

A cad issuing bank is any Visa/MasterCard/AmEx/Discover member bank that enters into contractual relationships with cardholders for the issuance of cards. Popular card issuing banks in the US for example are MBNA and CapitalOne.