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Understanding the Payment Industry is a tough task. Merchants are faced with confusing statements, hundreds of various payment processing fees, and numerous processing options offered by Merchant Service Providers, Payment Gateways, and other payment processing entities. The PAYMENTINSIDER provides articles, posts, and whitepapers on the Payment Industry, including this article, Payment Industry Term: Batch, with the goal of creating transparency in this marketplace.

Payment Industry Term: Batch

Payment Industry terms can be confusing. In addition to the hundreds of various interchange fees, payment compliance standards, and complex statements, the merchant is also tasked with understanding industry jargon. Batch, when used in context with payment processing, means: Batch – The accumulation of captured (sale) transactions waiting to be settled. Multiple batches may be settled throughout the day. For additional information on payment industry terms, including articles and news on trending information, visit the … Read More »

Payment Industry Term: Batch Processing

Payment Industry terms can be confusing. In addition to the hundreds of various interchange fees, payment compliance standards, and complex statements, the merchant is also tasked with understanding industry jargon. Batch Processing, when used in context with payment processing, means: Batch Processing – A type of data processing and data communications transmission in which related transactions are grouped together and transmitted for processing, usually by the same computer and under the same application. For additional … Read More »

Payment Industry Term: ACH

Payment Industry terms can be confusing. In addition to the hundreds of various interchange fees, payment compliance standards, and complex statements, the merchant is also tasked with understanding industry jargon. ACH, when used in context with payment processing, means: ACH – Automated Clearing House. A regional organization used by member banks to electronically transfer funds between members. For additional information on payment industry terms, including articles and news on trending information, visit the PAYMENTINSIDER Topics. … Read More »

Payment Industry Term: Business Day

Payment Industry terms can be confusing. In addition to the hundreds of various interchange fees, payment compliance standards, and complex statements, the merchant is also tasked with understanding industry jargon. Business Day, when used in context with payment processing, means: Business Day – A day on which a Federal Reserve Bank to which a Member may send applicable items for presentment is open for business, other than a state bank holiday. For additional information on … Read More »

Payment Industry Term: AMEX

Payment Industry terms can be confusing. In addition to the hundreds of various interchange fees, payment compliance standards, and complex statements, the merchant is also tasked with understanding industry jargon. AMEX, when used in context with payment processing, means: AMEX – Abbreviation for American Express, an organization that issues travel and entertainment cards and acquires transactions. For additional information on payment industry terms, including articles and news on trending information, visit the PAYMENTINSIDER Topics. VeriProcess … Read More »

Payment Industry Term: Capture Date

Payment Industry terms can be confusing. In addition to the hundreds of various interchange fees, payment compliance standards, and complex statements, the merchant is also tasked with understanding industry jargon. Capture Date, when used in context with payment processing, means: Capture Date – The date on which a transaction is processed by an acquirer. For additional information on payment industry terms, including articles and news on trending information, visit the PAYMENTINSIDER Topics. VeriProcess is committed … Read More »

Payment Industry Term: Account Number

Payment Industry terms can be confusing. In addition to the hundreds of various interchange fees, payment compliance standards, and complex statements, the merchant is also tasked with understanding industry jargon. Account Number, when used in context with payment processing, means: Account Number – A unique sequence of numbers assigned to a cardholder account that identifies the issuer and type of financial transaction card. For additional information on payment industry terms, including articles and news on … Read More »

Payment Industry Term: Card Issuer

Payment Industry terms can be confusing. In addition to the hundreds of various interchange fees, payment compliance standards, and complex statements, the merchant is also tasked with understanding industry jargon. Card Issuer, when used in context with payment processing, means: Card Issuer – 1) The financial institution or retailer that authorizes the issuance of a card to a consumer (or another organization), and is liable for the use of the card. The issuer retains full … Read More »

Payment Industry Term: Acquirer

Payment Industry terms can be confusing. In addition to the hundreds of various interchange fees, payment compliance standards, and complex statements, the merchant is also tasked with understanding industry jargon. Acquirer, when used in context with payment processing, means: Acquirer – A licensed member of MasterCard and/or VISA (or its agent) which maintains merchant relationships, receives all bankcard transactions from the merchant, and initiates that data into an interchange system. For additional information on payment … Read More »

Payment Industry Term: Card Verification Code (CVC)

Payment Industry terms can be confusing. In addition to the hundreds of various interchange fees, payment compliance standards, and complex statements, the merchant is also tasked with understanding industry jargon. Card Verification Code (CVC), when used in context with payment processing, means: Card Verification Code (CVC) – A unique value calculated from the data encoded on the magnetic stripe of a MasterCard card, validating card information during the authorization process. For additional information on payment … Read More »