ACH Transaction Status
Ready: Transaction is approved and ready for processing. Transaction can be voided (cancelled) at this time.
Settling: Transaction has originated and is processing.
Funded: Transaction is successful.
Rejected: Transaction was not successful and was rejected or returned by the bank. A corresponding R code will indicate the return reason.
Unfunded: A transaction that was previously funded is returned or rejected by the bank.
Amount
This represents the total amount that was submitted for authorization. This is equivalent to the authorization amount or payment amount of a transaction.
Average Ticket
The average size of a payment card transaction at a merchant. Generally used in pricing decisions and calculations.
Contactless Payments
Contactless payment is a secure method for consumers to purchase products or services using a debit, credit, or smartcard—also known as a chip card—by using RFID technology or near-field communication (NFC).
Credit
A disbursement to a customer’s account.
Credit Card Transaction Status
Ready: Transaction is approved and ready for processing. Transaction can be voided (cancelled) at this time.
Settled: Transaction is successful.
Debit
A charge to a customer's account.
Decline or Declined
The denial of an authorization request by, or on behalf of, an issuer member.
Digital Wallet
Digital wallets allow consumers to shop online and pay using a wallet system, rather than entering a credit card for each purchase. Wallets typically use a username and PIN or other security device to authenticate the buyer.
Doing Business As (DBA)
Refers to the specific name and location of the merchant establishment where credit card purchases are made.
Down Time
A period when all or part of a system or network is not available to end users due to failure or maintenance.
eCommerce
Internet-originated transactions. Also, the use of the internet for commercial purposes such as banking, shopping, or purchases of financial services and products.
Electronic Bill Payment (E-pay)
An alternative to paper checks for paying bills. Consumers can use PCs, telephones, screen phones or ATMs to send electronic instructions to their bank or bill payment provider to withdraw funds from their accounts and pay merchants. Payments may be made either electronically or by a paper check issued by the bill payment provider.
Electronic Bill Presentment (EBP)
The electronic delivery of vendor requests for payment. Vendors send consumers their bills via PCs, telephones or screen phones.
Encryption
The technique of scrambling data automatically in the terminal or computer before data is transmitted for security/anti-fraud purposes.
End-to-End Encryption
Uninterrupted protection of the integrity and confidentiality of transmitted data by encoding it at the start and decoding it at the end of the transaction.
Financial Institution
Any organization in the business of moving, investing, or lending money, dealing in financial instruments, or providing financial services. Includes commercial banks, thrifts, federal and state savings banks, saving and loan associations, and credit unions.
Funding
Refers to the payment to a merchant for submitted deposits.
Merchant Agreement
The written contract between merchant and acquirer who detail their respective rights, responsibilities, and warranties.
Merchant Services
Company that provides merchants the ability to accept electronic payments. Merchant service companies can connect to financial institutions, card and payment networks and manage relationships with them as a service to merchants.
Partial Reversal Status
In the case of a prior authorization capture transaction, a partial reversal may apply. This value indicates the success of the partial reversal transaction.
Payment Amount
The amount of a transaction submitted for authorization. This is the amount authorized against the specified payment method.
Payment Method
The form of payment provided against a transaction. In the case of credit card charges or refunds, the payment method reflects the type of credit card. In the case of eCheck transactions, the payment method would be eCheck indicating that a consumer’s bank account has been charged or refunded. All transactions entered through the system must contain a valid payment method.
Re-presentment
The re-submission by an acquirer of a previously charged back sale in an attempt to re-charge the cardholder. Chargebacks require some form of additional documentation confirming the validity of the charge and disputing the original chargeback reason.
Reseller
An organization that offers the services or products of a third party that are in addition or complementary to other services offered by the reseller.
Reversal
The creation of an offsetting transaction for a successfully funded or settled transaction. If a reversal of a debit transaction is performed, a credit transaction is being initiated. If a reversal of a credit transaction is performed, a debit transaction is created.
Secure Payment Page
A secure payment page assures customers that their payment information is encrypted for privacy and data integrity before it is sent over the Internet. This page is typically identified by the "s" in https:// (instead of http://). Payment gateway providers make this necessary eCommerce link possible by hosting the payment gateway software and individual secure payment pages on their own servers.
Settlement
The process of transferring funds for sales and credits between acquirers and issuers, including the final debiting of a cardholder's account and crediting a seller's account.
Settlement Amount
The transaction amount sent to the processor for settlement. This amount will appear as a charge or refund against the specified method of payment. This amount may be less than or equal to the original authorization amount for the transaction.
Settlement Date/Time
This date indicates the date/time on which a transaction was submitted for settlement.
Settlement Error
Transactions with this status have experienced an error during processing. These transactions have not been successfully settled.
Tokenization
The process of translating a credit card number into a random sequence of numbers as a method of encryption, to enhance credit card security during a transaction.
Transaction
An act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder's promise to pay for goods or services received.
Transaction ID (Trans ID)
Each transaction within the system is assigned a unique transaction ID. This ID may be used to sort or identify specific transactions within the system.
Transaction Status
Each transaction within the system is given a unique status value to indicate the current processing state. A transaction status provides summary information regarding the state and subsequent actions that may be performed against a transaction.
Transaction Type
This value indicates the type of transaction entered and actions that may be associated with the transaction.
Unauthorized Transaction
Any sale for which a cardholder does not provide his/her specific authorization. (Not to be confused with failure to receive an issuer authorization response.)
Under Review
Transactions with this status are currently being reviewed before being submitted for processing.
Void
Transactions with this status have been marked as void within the application. Transactions with this status will not be sent for settlement.