Automated Clearing House System (ACH)

Automated Clearing House System (ACH) is one of the group of processing institutions that have networked together to exchange (clear and settle) electronic transactions.

Authorization Response

Authorization response is an answer to an authorization request, typically a code, that advises the acquiring bank or merchant how to proceed with the transaction.

Authorization Message

Within a payment system, any message between a card acceptor and a card issuer serving to establish whether the card issuer approves for a transaction to proceed, is called an authorization message.

Authorization Code

Authorization code is six-digit alphanumeric code assigned by the card issuer to identify the approval for a specific authorization request. Also referred to as "issuer's response code," "authorization approval code," or "authorization response code."

Authentication

Authentication is the process of ensuring that both the card and cardholder are genuine, before a payment transaction is completed.

Affiliate Member

Affiliate member is a type of MasterCard or Visa member that participates indirectly through an association member or a principal member in the activities of this corporation (for example, by issuing MasterCard or Visa cards or by accepting transaction records from merchants).

Account Data Compromise Event

Account data compromise event is an event in which account data may have been compromised that could lead to unauthorized use of the cardholder's account. An account data compromise event does not mean that account data was wrongfully disclosed or used, but that account data may have been wrongfully disclosed or used.

Voice Authorization Center

Voice authorization center is an operator-staffed center that handles telephone authorization requests from merchants who do not have electronic point of sale (POS) terminals or whose electronic terminals are temporarily not working, or for transactions where special assistance is required. Voice authorization centers also handle manual authorization requests and Code 10 calls.

Voice Authorization

Voice authorization is an authorization obtained by calling a voice authorization center.

VisaNet Processor

VisaNet processor is a processor directly connected to VisaNet. See also: Processor.