Financial institution is any commercial bank, federal or state savings and loan association, federal or state savings bank, or credit union.
Monday, August 31, 2009
Friday, August 28, 2009
Emergency Card Replacement Service (ECR Service)
Emergency Card Replacement Service (ECR Service) is the MasterCard worldwide service designed to provide temporary cards to all MasterCard cardholders that do not have their cards in their possession. This card is issued to a cardholder that needs a temporary replacement card sooner than the typical five to 10 days that it takes to get a permanent card.
Thursday, August 27, 2009
Electronic Point of Sale
Electronic point of sale is a point-of-sale merchant equipped with electronic equipment for pricing and recording transactions, but not necessarily incorporating functions for electronic funds transfer (EFT).
Wednesday, August 26, 2009
Electronic Funds Transfer System (EFTS)
Tuesday, August 25, 2009
Electronic Funds Transfer (EFT)
Thursday, August 20, 2009
Electronic Draft Capture (EDC)
Tuesday, August 18, 2009
Electronic Commerce
Monday, August 17, 2009
eCommerce Transaction
Friday, August 14, 2009
Debit Transaction
Thursday, August 13, 2009
Debit Card
Wednesday, August 12, 2009
Cross-Border Transaction
Tuesday, August 11, 2009
Credit Loss
Thursday, August 6, 2009
Credit Card
Credit card is a plastic card bearing an account number assigned to a cardholder with a credit limit that can be used to purchase goods and services and to obtain cash disbursements on credit, for which a cardholder is subsequently billed by the card issuer for repayment of the credit extended at once or on an installment basis.
Wednesday, August 5, 2009
Co-Branded Card
Tuesday, August 4, 2009
Clearing
Sunday, August 2, 2009
Cirrus
Saturday, August 1, 2009
Chargeback Process
Chargeback process is a dispute resolution process that member banks use to determine the responsible party in a chargeback related dispute. This process has three cycles in which the member banks can resolve the dispute themselves. If the members do not resolve the case within three cycles, they must send the case to arbitration. These three cycles are:
- First chargeback (submitted by the card issuer).
- Second presentment (submitted by the acquiring bank).
- Arbitration chargeback (submitted by the card issuer).
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