D-G

Data Breach

Unintentional release of secure information to an untrusted environment

Data Security Standard (DSS)

PCI-DSS (Payment Card Industry Data Security Standard). Common standards for merchants and third parties resulting from the alignment of MasterCard, Visa and other card associations with the similar goal of protecting payment card account data wherever it is received or stored.

Debit Card

Plastic card that gives the cardholder access to their checking account at their financial institution. Transactions (both online and offline) that use a debit card immediately transfer the funds from the checking account associated with the card.

Declined

Transactions that are not approved are marked as declined. These transactions may not be captured and submitted for settlement.

Digital Wallets

Digital wallets allow consumers to shop online and pay using a wallet system, rather than entering a credit card for each purchase. Wallets typically use a user name and PIN or other security device to authenticate the buyer

Discount Rate

A discount rate is a fee associated with collecting, assessing, approving, processing, and settling credit card transactions. This fee is often a percentage of the transaction value.

Discover Card

Financial services company providing credit cards, banking and payments products.

eCheck

Electronic version of a paper check, often used to conduct transactions over the internet.

eCommerce

Internet-originated transactions. Also, the use of the internet for commercial purposes such as banking, shopping, or purchases of financial services and products.

eCommerce Indicator (ECI)

An indicator flag for all transactions that are generated via eCommerce. This flag is intended to identify to the banking network all eCommerce transactions. The value is exactly a decimal 2 digit value, passed in authorization messages.

Email Address

An email address may be provided along with the billing information of a transaction.

EMV (Europay-MasterCard-Visa)

Also known as chip cards. A type of credit/debit card with a computer chip embedded into it. EMV cards make in-person transactions more secure, but make card-not-present transactions more prone to fraud.

Encryption

A method of coding data, using an algorithm, to protect it from unauthorized access. There are many types of data encryption, and they are the basis of network security.

End-to-End Encryption

Uninterrupted protection of the integrity and confidentiality of transmitted data by encoding it at the start and decoding it at the end of the transaction.

Expiration Date

The date on which a credit card is no longer valid. Transactions will only be successfully authorized and settled for credit cards whose expiration dates have not passed.

Fees

Fees for screening and processing online payments may include, but are not limited to, costs for the following:

  • Monthly Account
  • Discount rate 
  • Per item charges for credit card and electronic check transactions

Fraud

The crime of using dishonest methods to take something of value from another person or entity. Fraudsters dupe and deceive consumers to commit fraud (steal their identity or credentials).

Fraud Score

For merchants using fraud screening programs, a fraud score may be available during transaction authorization. This is a number, usually between 0 and 1000, that represents the overall fraud risk of a particular transaction. The higher the number, the riskier the transaction.

Friendly Fraud

Friendly fraud is the term used when a consumer (or someone with access to their credit card) makes a purchase and then initiates a chargeback (saying that they did not make the purchase and/or did not receive the goods or services).

Gateway

A computer application that routes transactions from eCommerce websites to a financial institution’s processing system. Gateways typically offer transaction management, reporting, and fraud screening functionality. Charges are usually per transaction basis.

Gift Cards

A magnetic stripe or smart (chip) card that replaces paper gift certificates that are most often used in retail, restaurant and lodging establishments

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