H-K

Hacker

A person who uses computers to gain unauthorized access to data, or a person who seeks and exploits weaknesses in a computer system or network.

Hosted checkout

A service provided to accept debit and credit payments online.

Interchange Fees

Fee paid (percentage of each transaction) by the acquirer to card issuing banks. Covers cost of fraud, accounts paying off monthly balances, etc. MasterCard and Visa have multiple interchange fees, based on card type, merchant type and market data requirements; covers the risk of loss and the cost of processing the transaction.

Interchange Network

An electronic network maintained by American Express, Discover, MasterCard, or Visa that exchanges data relating to the value of card sales and credits among Issuers and Acquirers.

Issuer

Any American Express, Discover, MasterCard or Visa member, or a commercial organization that establishes and maintains consumer and business credit lines that are accessed through the use of a card. (Also public and private companies and financial institutions that offer card-accessed lines of credit to consumers and businesses.)

JCB (Japanese Credit Bureau)

Credit cards issued by the Japanese Credit Bureau, established in Japan in 1961, which are now owned by American Express.

Knuckle-buster

Old fashioned credit card reader.

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