Wednesday, January 13, 2010

Store Card

Store card is a payment card associated with a particular retailer or group of retail stores that can be used only for purchases from that retailer or group of stores.

Self-Service Terminal

Self-service terminal is a customer activated terminal, especially one including the functions both of delivering and paying for goods (for example, in an automatic fuel vending system).

Retail Sale Transaction

Retail sale transaction is the purchase of goods, services, or both, generally at a merchant establishment.

Retail Banking

Retail Banking is the part of a bank's operations providing services at its branches for small or individual account holders.


Refund is the opposite of a purchase transaction, namely, the cardholder returns goods to the merchant and is credited for their value. Positive interchange and merchant service charge are reversed.

Recurring Payments

Recurring payments are payments by an issuer to an acquirer on behalf of a cardholder who authorizes a merchant to bill the cardholder's account on a recurring basis (such as monthly or quarterly). The amount of each payment may be the same or may fluctuate.

Quick Payment Service (QPS)

Quick Payment Service (QPS) is a MasterCard program targeting cash and convenience-oriented merchant segments, for example, fast food chains, movie theaters, and parking lots.

Thursday, January 7, 2010


In the credit card industry, purchase is a financial transaction, if approved, in which funds are debited from an issuer and credited to an acquirer in payment for goods or services.