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Authorization
An authorization is given to the merchant by the cardholders’ bank at the
time of the sale. The cardholder’s bank, or issuing bank, verifies that the
cardholder has adequate funds available on their account and issues the
merchant an authorization code. The cardholder’s available credit will then
be reduced by the amount of the sale.
Bankcard
Bankcard is a financial transition card whether it is a credit card or a debit
card that has been issued by a financial institution.
Batch
Batch is a group of AssureBuy credit card transactions that are waiting to be
settled. The seller must perform a settlement of the sale transactions before
the funds will be released to the seller. This is not the same a batch as
defined by Microsoft Great Plains.
buyer
The buyer is the business or individual that purchases products or services
from the seller enabled by the IntegriCharge Service.
capture
Once the cardholder’s bank has authorized the sale, the seller must
complete the sale by issuing a capture transaction. Only captured
transactions can be settled. Capture transaction can also be issued at the
time of the sale so that the seller is basically authorizing and capture the
transaction all in one.
card issuer
The card issuer, or issuing bank, is the financial institution that has issued
the credit card, debit card, or bank account to the buyer. The card issuer will
be the bank to approve or decline the transactions.
card verification value
The card verification value (CVV2) works like a pin for the buyer’s credit card
number. By requesting the cvv2 along with the buyer’s credit card number,
the seller adds an additional layer of security to the transaction. The cvv2
number is never stored and does not print out on receipts and only the
cardholder should know the cvv2 value. The cvv2 is not a guarantee against
fraud but an added protection. For Visa, Master Card and Discover, enter
the right most 3 numbers found in the signature strip on the back of the card.
For American Express, enter the 4 numbers printed above the card number
on the right side front of the card.
AssureBuy Payment Processing Microsoft Great Plains Dynamics/eEnterprise Glossary of Terms • 118