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Acquiring Bank
A financial institution that provides merchant accounts. A merchant account
allows you to accept credit cards.
Internet Merchant Accounts
A bank account that allows you to accept card payments via the Internet. Unlike
a traditional merchant account, an Internet merchant account does not require
a shopper's signature, but has requirements beyond a typical MOTO (mail-order/telephone
order account).
If you already have a merchant account, you should contact your acquiring bank
and verify if the account supports credit card payment over the Internet. Different
rates and regulations apply to Internet merchant accounts.
Processing Gateway
The gateway will automatically collect information and pass it to your acquring
bank. The processing gateway allows for automated real-time processing. Examples
of processing gateways are Cybercash and Authorize.NET.
Card Holder
The owner the of purchasing credit card is referred to as Card Holder.
Authorization & Settlement
Authorization is the processing of checking for available credit in the card
holder's credit card account. A positive authorization reduces the cardholders
available credit and reservces the funds for settlement. Settlement actually
deducts the funds from the card holder's account.
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Address Verification System
Address Verification System will compare the cardholders billing address with
the entered billing address. AVS compares the zip code and street number.
Chargebacks
A chargeback is a request by the cardholder or the card-issuer to reverse a
disputed purchase. Your acquiring bank may charge hefty fees for each chargeback.
Discount Rate
The small percentage of each transaction an acquiring bank charges you for
the right to use your merchant account
Integrated Fraud Management
The process of checking card validity by comparing it to previous purchases,
AVS report, internal decline database and fraudulent shopper behavior patterns.
Decline Database
A private database containing declined credit card numbers, fraudulent credit
card numbers, stolen credit card numbers and previous charge-back credit
card numbers. Once a credit card number has been placed within our decline
database it can never be used with any Instabill and zStar Network merchant.
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Merchant
Account Co Offers Credit Cards and Online Merchant Account
Processing Visas Mastercards Amex Solo Electron Delta and Maestro Cards
