Glossary of Terms” cvv dumps 2020



Authorisation to obtain authorisation from the bank card issuing bank (BPC) to carry out transactions using the BPC.


Bank payment card (BPC) is a plastic identification means by means of which the BPC recipient is provided with an opportunity to carry out payment operations for goods and services, as well as to receive cash funds. Identification of the BPC recipient shall be ensured by putting on the BPC number, validity period of the BPC, as well as the last name, name and signature specimen of the BPC holder.

Acquiring bank is an authorized bank (member of the payment system) that conducts primary processing of transactions and undertakes the whole range of transactions with cards with merchants (traders), which are in its sphere of activity: transfers to settlement accounts of merchants (traders) funds for goods and services, acceptance, sorting and distribution of receipts, distribution of stop-lists (list of BPC, transactions on which are suspended on the day of transactions with BPC). Issuing bank an authorized bank, which is a member of the payment system, services card accounts and issues BPCs, as well as conducts settlements (through the acquiring bank) with merchants (traders), which sell or provide services using in payment of BPCs.

An ATM is an electronic-mechanical device that enables the holder of an APC to withdraw cash by entering a personal identification number (PIN).


The owner of the BPC is the person whose information is printed on the BPC (name, surname, specimen signature), who is authorized to manage the card account.


Imprinter is a mechanical device that enables the reflection of data from the BPC, the authorization to conduct transactions with which has been previously obtained; imprinters may be used by banks (cash advance) or merchants (merchants) in the absence of terminals; if imprinters are used, banks must take additional measures to prevent unauthorized authorization.


Card account (card account) is a bank account that can be disposed of by means of a BPC. The card account is credited with funds that are intended for further disbursement through the BPC.


Merchant (merchant) is a resident legal person who conducts business in the sale of goods and provision of services.

International payment system a system of settlements between banks in different countries that use uniform payment standards.

P PIN a personal identification number, a secret code known only to the BPC holder and required for BPC transactions.[/DATAENCODE

A payment system (PS) is a set of regulatory, contractual financial and information technology means, as well as decisions of the participants (banks, institutions, companies), which regulate their relations regarding the order of using the BPC. A COP must unite at least two issuing banks. All BPCs that belong to one COP must contain attributes that make it possible to identify their belonging to a COP.

A payment terminal is an electronic device which enables, as a result of interaction with the BPC, to perform authorization and generate payment checks for transactions using the BPC.

The Processing Centre is a specialised computer centre authorised by the payment system that maintains a database of the payment system, (data on payment system members and BPC holders) to provide authorisation requests in case the issuing bank does not maintain its own database; otherwise, the Processing Centre forwards a request to the issuing bank, which is authorised through the acquirer.


Settlement bank an authorized bank of Ukraine or a foreign bank authorized by the international payment system, which conducts mutual settlements between the PS members, where the latter open correspondent accounts.


Aslip (receipt) is a document that confirms the performance of transactions using the BPC and contains information on the amount of the transaction, the date, as well as data that makes it possible to identify the BPC.


Types of cards: personal BPC, which enables an individual holder to manage his own card account (card account); corporate BPC, which enables an individual to manage the card account of a legal entity; debit BPC, which enables to perform debit transactions on the card account within the credit limit established by the issuing bank.

A transaction is a set of transactions that accompany the interaction of a BPC holder with a PS when making a payment under the BPC or receiving cash.


A system participant is a legal entity (bank, merchant) or an individual who has a contractual legal relationship with the PS members.


A member of an international payment system is a legal entity which has obtained a license of the international payment system to issue cards of this system and/or service cards of this system (acquiring) and in accordance with the current legislation of Ukraine is entitled to perform the mentioned transactions in Ukraine.



ABA Routing Code ni. ABA Routing Number

ABA Routing Number is a unique nine-digit number at the bottom of the check in front of the account number (usually framed with colons). It uniquely identifies the bank that holds the amount for which the check is drawn


ACH см. Automated Clearing House

Acquirer, an intermediary bank that helps a merchant accept credit card payments

Acquiring Bank см. Acquirer

Address Verification Service (AVS)- Verifies the address where the bill for the purchased item arrives (see Billing Address). It is done to combat fraudulent mail, telephone, and Internet purchases. See also Card-Not-Present

Approval confirmation, a code sent by the issuing bank (see Issuing Bank) to confirm that the purchaser’s plastic card exists, is usable, and that the amount requested is within the allowable limit. The confirmation is requested during the authorization process, see Authorization


Asymmetric Сryptography см. Public Key Cryptography

ATM device for plastic/smart card cash withdrawal, ATM

Auth Only transaction in which it is only found out if the buyer can pay the required amount

Authorization Authorization, requesting payment. Blocks money in the account, reducing the amount available (Open to Buy) for purchases. In order to withdraw money, authorization must be completed, see Settled. If authorization is not completed in the time specified by the issuer (see Issuing Bank), it is cancelled and the previously blocked amount is released for purchases


Authorization Code. A code consisting of letters and numbers sent by the issuing bank (Card Issuer) confirming authorization. The authorization code must be included in the receipt (Sales Draft) issued by the merchant


Automated Clearing House is a method of transferring money between banks members of the Federal Reserve System. It is used by virtually all banks located within the United States. The acquiring bank must use ACH to send money to the merchant’s checking account. Each transaction, such as a withdrawal from a buyer’s account, takes approximately 48 hours


Automated Teller Machine см . ATM

AverageTicket price for the given seller

Auth File см . Transaction File

AVS см. Address Verification Service


Bundled Rate

Bundled Rate is a fee that includes communication and transaction fees (Transaction Fees). Also called Flat Rate

Bandwidth The speed at which data can be transmitted over the link. For modems connecting to an ISP over a telephone line, this is a maximum of 56.6Kps (kilobits per second)


Bank Identification Number are the digits on the plastic card that uniquely identify the issuing bank (Issuing Bank). Usually these are the first six digits, often referred to as the Bin


Batch is a set of transactions stored for simultaneous payment, which usually occurs once a day. Batch can be completed either automatically or using a POS terminal


Batch Processing is a type of data processing where transactions are not processed one by one, but all at once


BIN см . Bank Identification Number

Billing Address the address where the bill for the purchased item arrives


Capture a decision that this transaction will be submitted for payment. All transactions submitted for payment are included in Batch and sent to the payment processor or Payment Gateway


Card Blocking, see Locking


Card Issuer, the issuer who is responsible for issuing and servicing plastic cards. See Issuer, Issuing bank

Card-Not-Present is when the merchant does not see the buyer and the plastic card is physically inaccessible to him, i.e. he cannot read the magnetic stripes, check the signature, see the hologram, etc.). In order to increase payment security AVS is used in this case. See also MOTO

Card Unblocking is the inverse of Card Blocking


Certification Authority

The organization entrusted with issuing public key certificates.

Chargeback. An amount deducted from a merchant’s account at the request of the cardholder. If the cardholder is found to be in the right, the amount paid plus a Chargeback Fee is deducted from the merchant’s account. For purchases of tangible items, the dispute is often resolved in favor of the merchant. With intangible items, it’s decided in your favor. Customers who frequently use ChargeBack can get blacklisted. ChargeBack is initiated by the issuer after the acquirer has completed (see Settlement) the transaction


Shargeback Reason Code a two-digit number that encodes the reason for the chargeback, see ChargeBack


Check Guarantee is a method that guarantees payment by check within the limit of the amount set for the bill. Possible when the seller correctly accepts the check for payment. Usually consists of checking whether the buyer has previously written unsecured checks


Chip Card smart card, also called an IC (integrated circuit card). A plastic card with a microprocessor inside that can store electronic money. Unlike credit cards, smart cards allow you to spend only what is in them

Clearing is the exchange of information between an Acquirer and an Issuer to prepare a withdrawal from a customer’s card account. Part of what is called Settlement

Clearing House is a voluntary union of financial organizations with the purpose of organizing and facilitating the transfer of funds between members of the association (e.g., organizing the cashing of checks)

Slose Batch sending transactions with authorization codes to the payment processor in order to transfer money to the merchant’s account


Commerce Server web-server, connected to the payment processor with a program that stores all purchases and summarizes their prices (Shopping Cart), database, etc. Usually allows you to establish a connection using one of the secure protocols, such as SSL


Confirmation Letter

An email sent to the merchant by the payment processor that contains the details of the Batch files submitted to the processor. It is sent regularly every day or every week


Copy Request см. Retrieval Request

Credit Card is a plastic card that shows that the holder has credit. It allows the holder to make purchases or get money at an ATM up to a set maximum. The cardholder’s contract with the cardholder specifies when the credit must be repaid in whole or in part. If the loan is repaid in part, the holder is charged an additional fee.

Credit Card Processors (or Third Party Processors) a firm hired by an Acquiring Bank to provide payment authorization, settlement and other services to the merchant



DDA см. Demand Deposit Account.

Debit Card is a debit card. Unlike a credit card, amounts spent by the customer are automatically deducted from their account. Debit card payments usually require a PIN Decline the issuer’s denial of authorization

Demand Deposit Account a standard account (checking account) where money can be transferred

Deposit the moment when the seller forms (closes) the Batch file and sends the transactions for completion (Settlement). To reduce the percentage deducted by the acquirer (Discount Rate) Batch files must be closed once a day

Deposit Bank, where the seller’s money withdrawn from buyers’ card accounts is sent

Digital Signature a digital signature. A sequence of characters derived from asymmetric cryptography (Public Key Cryptography), attached to a message and proving its authenticity


Digital Wal let – digital wallet. A program for paying for goods using a plastic card. Before buying something, the buyer registers in the Payment Gateway, receives a name and password and then can make a purchase on any web-site that supports this type of digital wallet. An example of digital wallet system Digital Coin part of Cybercash payment gateway

Discount Rate is the percentage the Acquiring Bank charges the seller for each purchase. The percentage depends on the volume of trade, the average purchase price (see Average Ticket), and many other factors


Draft Capture см. Settlement


ECR см. Electronic Cash register

EDC см. Electronic Draft Capture

EDI (Electronic Data Interchange) a global computer network separate from the Internet. Used by banks and other financial institutions to make payments.

EFT см. Electronic Funds Transfer

Electronic Data Capture the use of a POS terminal to authorize and transmit transactions to a credit card processor or other MAP. The role of the POS terminal can be a special program or Payment Gateway


Electronic Cash Register, a combination of a cash register and a POS terminal. Often ECR is a program running on a personal computer

Electronic Draft Capture is a system in which transactions are transferred from various locations to a Host Computer for storage and processing. The accumulated transactions are then transmitted to the payment processor


Electronic Money (e-money) digital cash. Stored electronically in computers or microprocessors. It is in the possession of the purchaser. Digital cash can be purchased and stored in a special device. The amount of e-money is reduced when the device is used to purchase goods. To store e-cash, there are two types of devices smart cards (Prepaid Cards) or special computer programs. In the case of smart cards, the digital cash is stored in a microprocessor housed in a plastic shell. To pay for a purchase, the smart card is inserted into a special reader. If a program is used, the digital cash is stored as files on a hard drive and transmitted from the buyer to the seller over a computer network, such as the Internet


Electronic Purse smart card that holds digital cash (e-money). Allows you to spend e-money, creates a record of each spend, usually has the ability to transfer money from your bank account into digital cash. Often called a Stored-value Card


Electronic Wal let electronic wallet. It is a device for work with smartcards. It can e.g. block the card, read its balance, show several recent transactions, etc.


Factoring is a situation where your own Merchant Account is used to accept payments for an additional fee for another merchant. Factoring is considered an illegal operation. To legalize Factoring, special legal schemes are needed, such as in CCNOW(


Flat Rate см. Bundled Rate

Floor Limit if the price of the product is lower than the Floor Limit, the seller can do without authorization (making sure that the card is not listed as lost or stolen). Floor Limit is set by the issuer. Rarely used now

Force см. Post Authorization

Front-End is what the buyer sees on the merchant’s web site. Front-End allows the buyer to interact with the electronic shopping cart (Shopping-Cart), the database, and pay for purchases



Holdback is the portion of the funds received by the merchant from card payments that is blocked by the acquirer or other MAP to cover chargeback and other disputed payments. After a certain period of time, the Holdback is returned to the merchant


Host Capture automatic generation of a Batch file in a payment processor or payment gateway. Compare Terminal Capture

Host Computer is the computer that performs authorization and termination (Settlement)



IC see. Chip Card

Imprint readout of card parameters. It can be electronic (via POS terminal) or manual (card imprint by imprinter). Imprint is required to prove the physical presence of the card (Card Present) at the point of purchase.

Interchange flow of information between Issuer and Acquirer, e.g., transactions, Chargeback.[/DATAENCODE

Interchange Fee is what the Acquiring Bank pays to the Issuing Bank for each credit card transfer. This fee is part of the Discount Rate

ISO (Independent Service Organization) is a firm that helps merchants accept plastic card payments. Before working with an ISO, merchants must generally already have a Merchant Account, although some ISOs state that a Merchant Account is not required. See Factoring


ISP (Internet Service Provider) Internet service provider. An organization that provides access to the Internet, including electronic mail (Email) and access to the WWW. Either a modem or dedicated line is used to communicate with the ISP


Issuer is the issuer, the bank that issues credit cards and opens card accounts. The issuer is required to transfer money from the card account to the acquiring bank serving the merchant. If the buyer has a credit card, the issuing bank bills the buyer after the purchase


Issuing Bank см. Issuer


Key is a key, a set of digits used in a cryptographic algorithm. The key is extremely difficult to determine with only the source and encrypted texts


Key length (Key) measured in bits

Keyed Entry см. Manual Entry


Limited-purpose prepaid card is a smart card that can be used only in certain stores or only to pay for phone calls. A typical example of a smart card for phone calls sold in Moscow

Load – loading digital cash into the electronic purse

Load Log – a record of the last digital cash load into the digital wallet (smart card)

Local Review the vendor’s ability to see from their terminal or ECR the contents of the Batch file before or after completion (Settlement)

Locking locks the smart card, preventing it from being used for purchases. In order to buy something, you need to unlock the card, and to do that you need to know a special password, something like a PIN code



Magnetic Stripe magnetic stripe. Located on the back of a plastic card and contains card account information associated with the card in an encoded form. The magnetic stripe has two tracks. The first track stores the cardholder’s name; the card number and expiration date are stored on the second track


Manual Entry manual entry of card parameters from the computer keyboard or POS terminal

Member financial institution is a member of Visa USA and/or MasterCard International. Member has the authority to issue cards to customers and/or accept payment requests from merchants


Merchant business (corporation, LLC, etc.) agreeing to accept plastic card payments

Merchant Account is a special transit account opened by a merchant with a bank that allows credit card payments to be accepted. By opening a Marchant Account, the bank agrees to pay the merchant for properly made purchases in exchange for withdrawals from the customers’ accounts at the issuing banks


Merchant Account Provider (MAP) is a bank or firm where you can get a Merchant Account. MAP also accepts plastic card payments. Understood more broadly, the term includes any credit card transaction, such as ISO

Merchant Agreement a written agreement between a merchant and a bank (possibly between a merchant, bank and ISO) containing the rights, obligations and warranties of the parties in the card payment acceptance process


Merchant Bank is the bank where the Merchant Account is opened. Synonym: Acquirer. When a buyer purchases an item, Merchant Bank transfers money to the seller in exchange for the right to withdraw money from the buyer’s account


Merchant Category Code is a code that the acquiring bank (Acquirer) assigns to the merchant. This four-digit code, sometimes called a Sic Code, reflects the merchant’s primary line of business


Micropayment micropayment, a very small amount, perhaps less than a cent. Until recently, such payments were not possible. Micropayments are now implemented in some not widely used experimental systems

MID (Merchant Identification Number) number uniquely identifying the merchant

Monthly Minimum is the minimum monthly fee a merchant is charged for accepting plastic card payments

MOTO Discount Rate (Mail Order / Telephone Order) percentage (Disount Rate) charged by the acquirer on each transaction when the merchant does not have access to the card itself, knowing only its parameters communicated to him by telephone, fax or Internet. When the merchant does not have the card itself, the percentage (Discount Rate) is usually higher

Multi-Trans Mode when Host Computer allows multiple transactions per connection to the payment processor



Non-Qualified is the name of a high-risk transaction where, for example, there is no card itself but only its parameters



Off-line is the name of the transaction when there is no direct communication between the participants of the payment system



Connection to the central computer for authorization is made before the transaction is executed.

Open To Buy the amount of credit currently available to the cardholder



Payment Gateway payment gateway. A server on the Internet with software installed that links a merchant’s web server to the payment processor. Examples of payment gateways: Cybercash, AuthorizeNet.

Payment System payment system. A set of banking procedures and interbank transfer systems designed to facilitate the movement of money

Pc Pos Application is a computer program that combines any two functions from the list: cash register, valuables accounting, accounting program, credit card authorization and payment acceptance program


PIN (Personal Identification Number) is a digital or alphanumeric code that only the cardholder knows. It is used when withdrawing money from ATMs and when paying for goods with a debit card


POS Terminal (Point of Sale) is an electronic device used to authorize and make credit card payments. It can automatically read the data recorded on the magnetic stripe (Magnetic Stripe) of the card. Card parameters can also be entered manually. So the POS terminal is also suitable for MOTO transactions


Post-Auth (Post Authorization) A transaction that is preceded by Voice Authorization. See Prior Authorized Sale

PRE-AUTH см. Auth Only

Prepaid card is a smart card that holds electronic money that has been prepaid by the cardholder. See also Limited-purpose and Multi-purpose prepaid card, Stored-value card and Electronic Purse


Prior Authorized Sale is a transaction for which Authorization is performed first. The merchant authorizes the card before providing services (hotel room, car rental, etc.)

Private Key is a secret key to which only its owner should have access. The secret key corresponds to a public key known to all.

Processor payment processor, a large computer center that authorizes the card and then transfers money to the acquiring bank associated with the processor


Public Key public key, the unclassified part of a two-key pair in asymmetric cryptography (Public Key Cryptography). It is published by the host of the pair so that everyone can send secret messages to it, which can be decoded using the secret key corresponding to the public key


Public Key Certificate is a certificate of a public key. Public Key information, usually including the key itself, signed by a digital signature (Digital Signature) of the person or organization. The certificate protects the integrity of the key if the person or organization signing it is well known and respected, and their public keys are widely distributed


Public Key Cryptography an encryption scheme that does not require a secret channel to establish a secret communication. To send a secret message, only the recipient’s public key is required, which decrypts the received message with its secret key.

Public Key Encryption is an encryption method. Developed in order to overcome the main disadvantage of symmetric cryptography of the need to have a secure channel for transmitting the key to the interlocutor



Qualification reputation of the transaction. Depends on how card parameters are entered, how quickly the transaction is submitted for payment (Settled), type of business, other information. The higher the Qualification, the cheaper the transaction



Real-Time Processing. The verification and processing of a card payment that immediately follows the purchase. Real-time verification usually takes a few tens of seconds. Real-time verification is especially important for sites where products or services are expected by the customer immediately, such as when purchasing software or accessing a site


Receipt. A piece of paper containing a description of a credit card purchase. Here is the minimum information: date, merchant name and address, amount, unique number, and Authorization Code


Recurring Fees are regular, usually monthly, charges for maintaining a Merchant Account. Includes Discount Rate, Transaction Fee, Statement Fee, and Monthly Minimum.

Recurring Transaction periodically withdraws money from the buyer’s account. To do this, you need an appropriate agreement with the buyer


Reserve Account см. Holdback

Retail funds transfer system is a system for accepting small payments, the total amount of which is quite large. Payments can be made by credit card, check, or whatever

Retrieval см. Retrieval Request.

Retrieval Request requesting merchant to provide documentation of a specific transaction. This comes from the bank in disputed cases, when the cardholder disputes the transaction. May lead to a chargeback (see Chargeback)


Secure Server secure server. A computer connected to the Internet that allows a secure connection to be established with a browser using SSL or SET


Session Key for symmetric encryption, which is used for a limited time, more often for a single secure connection, such as over SSL


SET (Secure Electronic Transaction) is a credit card payment security system developed by Visa, MasterCard, Microsoft and several leading banks. It is based on public key encryption (see Public Key Encryption) of all information related to card parameters and separation of information between the participants in the transaction so that none of them has the entire information


Settle см. Settlement

Settlement completion when a Transaction is sent along with Authorization Codes to the payment processor to transfer money to the merchant


Setup Fee charged once, e.g., for opening a Merchant Account or providing web server space


Shopping Cart Program electronic shopping cart. A program that runs on a web site that collects information about what a visitor wants to buy. Shopping Cart makes sense when the average visitor makes multiple purchases


SIC Code Standard Industry Classification). This is a four-digit number that identifies the type of business

Skimming is a method of plastic card counterfeiting where the magnetic stripe of one card is overwritten onto another

Slid Entry see. Swiped Card. Compare with Manual Entry

Smart Card is a plastic card with a microprocessor inside that is capable of making calculations. The smart card can store electronic money that can be spent in a store and received at a special ATM (money from a regular account is converted into electronic form and placed inside the smart card. A smart card may also contain user parameters (password, card number), which makes it functionally similar to a key to a bank account or a debit card. Can be used for identification, as a badge

SSL (Secure Socket Layer) is a protocol for secure communication over the Internet. It consists of both participants exchanging public keys, allowing them to exchange encrypted messages


Statement Fee fixed monthly fee for Merchant Account

Stored-value Card см. Electronic purse

Stripe Read см. Swiped Card

Surcharges additional fee for accepting credit card payments. Charged when there is an additional risk of fraud

Suspense is the inability to submit a Batch for payment due to a malfunction in the payment processor or payment gateway. External intervention is required to resolve Suspense


Swipe Discount Rate is the percentage charged by the acquirer for each withdrawal from a card physically accessible to the merchant (see Swiped Card, Discount Rate). This percentage is usually lower than for MOTO purchases, due to the fact that there is less risk of fraud

Swiped Card, information from which is automatically entered using a POS terminal. To read the information, the card is pulled through a special slot in the reader. Compare to Manual Entry

Symmetric Cryptography is symmetric cryptography or private key cryptography. A cryptographic algorithm that uses the same key for encoding and decoding. The disadvantage of symmetric cryptography is that a secret communication channel is required to transmit the key to the second party to the correspondence. The advantage is that symmetric cryptography algorithms are very fast. In practice, combinations of symmetric cryptography and public key cryptography (Public Key Cryptography) are often used.


Terminal Capture is a type of card payment acceptance where transaction information is stored on the merchant’s computer, who manually types a Batch from it and then sends it for payment (Settlement) on a daily basis. Compare with Host Capture

Third Party Processor a firm not owned by Visa or Mastercard (see Member), hired by an acquirer to conduct authorizations and plastic card payments


Ticket Only purchase for which voice authorization is used

Transaction any interaction between buyer and seller that affects the buyer’s card account


Transaction Fee is a flat fee charged to the merchant for each purchase (in addition to the Discount Rate). It ranges from $0.20-$1.00

Transaction File is a file in which the payment processor stores all transactions made during the previous day. Some processors create two files one containing only authorizations, the other containing only completed (settled) transactions


Transaction Log transactions recorded in order of occurrence


Vendor File см. Transaction File

Voice Authorization Voice Authorization. Used when there is no suitable device to perform authorization, such as a POS terminal. Sometimes used in questionable cases where the issuer returns Please Call

instead of an authorization code to the merchant.

Void – refuses to pay after successful authorization. Transactions marked as Void are not included in Batch and are not presented for payment


Dictionary of terms from the book by A. Krupnik How to sell and get money online

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