Payments Basics: Card Acceptance Terms

Moving through the language of credit card acceptance and payments can sometimes be funny business.

This simple guide is a good place to start getting your edge. This chapter in our series looks at some of the most common basic terms in the language of card acceptance and processing.

  • Acceptance Marks

    Signifies which payment brands are accepted at a merchant location; provides the cardholder with information on where his or her card can be used  

  • Account Number

    The unique identifier (typically a number) that an account issuer, as part of providing a credit or debit account, issues to an account holder  

  • Card Brands

    Member-based corporations that connect consumers, businesses, and banks to transact through electronic payments instead of cash and check; also establish and enforce rules amongst members and promote the brands (popular card brands include Visa® and MasterCard®) 

  • Card Issuer

    Any association member financial institution, bank, credit union, or company that issues (or causes to be issued) plastic cards to cardholders 

  • Cardholder

    Person or entity that receives an account from a card company or issuer

  • Expiration Date

    The date embossed on a credit or debit card beyond which it becomes invalid 

  • Merchant

    A commercial entity or person authorized to accept cards and access devices when properly presented; an organization that uses credit cards to receive payments from its customers pursuant to agreement with card brands 

Payment acceptance made simple

Payment Basics

Mobile

On the move—it’s mobile. The what’s what in the world of mobile. What’s the difference between mobile acceptance and mobile point-of-sale. Let’s get moving with definitions of mobile money and transaction.
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Payment Basics

Chargebacks

This chapter in our series looks at some of the most common terms in the language of chargebacks.
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Payment Basics

Currency Terms

The current of currency. These ABCs define some of the most common terms and language used in talking about the movement of money globally.
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