ABA (American Bankers Association) Routing Number: Also known as a routing and transit number, this nine-digit code identifies a financial institution in the United States. It is used to direct electronic ACH deposits and other transactions to the appropriate bank.
ACH (Automated Clearing House): A secure, nationwide network that facilitates the electronic transfer of funds between banks. Operated by the Federal Reserve or other clearing entities, it supports both credit and debit transfers.
ACH Network: A central distribution and settlement platform where financial institutions exchange electronic payment items. It processes high volumes of transactions in batches.
ACH Operator: A central clearing facility—either a Federal Reserve Bank or a private sector provider—responsible for receiving, processing, and distributing ACH entries.
ACH Transaction Status
Ready: Approved and ready for processing.
Settling: Processing.
Funded: Successful.
Rejected: Returned by the bank.
Unfunded: Previously funded but returned.
Acquirer: A bank or financial institution that provides credit/debit card processing services to merchants.
Acquiring Processor: Performs the technical functions of credit card processing on behalf of an acquirer or ISO.
Account Holder (Consumer): An individual or entity that owns or is authorized to use a bank account or card.
Address Verification Service (AVS): Verifies the billing address with the card-issuing bank for fraud prevention.
Adjustment: A correction (debit or credit) to resolve a transaction error.
Amount: The total monetary value submitted for authorization.
Application ID: A unique identifier for a merchant’s application for payment services.
Assessments: Quarterly fees paid by acquirers to card networks.
Authorization: The process of validating available funds or credit to complete a transaction.
Authorization Code: A unique identifier for a successfully authorized transaction.
Authorized / Pending Capture: Transactions approved but not finalized. Awaiting merchant capture.
Average Ticket: The average size of a payment card transaction at a merchant.
Bank Account Number: A unique number assigned to a specific bank account for eCheck transactions.
Bank Account Type: Indicates whether a customer’s account is checking or savings.
Banking Business Day: Any day a financial institution is open, excluding holidays and weekends.
Basis Points (bps): A unit equal to 0.01%, used to describe interest or interchange rates.
Batch Processing: Groups multiple transactions for simultaneous processing.
BIN (Bank Identification Number): First six digits of a card number identifying the issuing bank.
Capture: Finalizes an authorized card transaction for settlement.
Captured / Pending Settlement: Captured transactions awaiting submission for settlement.
Card Networks: Organizations like Visa, Mastercard, Amex, and Discover.
Card-not-Present (CNP) Transaction: A transaction where the physical card is not present, such as online purchases.
Cardholder: The individual or entity to whom a card is issued.
Chargeback (Dispute): A transaction reversal initiated due to a dispute.
Chargeback Period: The window (45 to 180 days) for initiating a chargeback.
Chargeback Reason Code: A numerical identifier for a chargeback reason.
Chargeback Reference Number: A 10-digit identifier used for tracking a chargeback.
Check Verification (Forte Validate Solutions): A service to validate checks using a national bad-check database.
Chip Cards (EMV Cards): Cards with microchips that offer enhanced transaction security.
Compliance (Visa/Mastercard): A formal dispute resolution process between network members.
Contactless Payments: Secure payments using NFC or RFID without physical card swiping.
Credit: A disbursement to a customer’s account.
Credit Card Number: Full or partial card number used in a transaction.
Credit Card Transaction Status:
Ready: Approved and ready for processing.
Settled: Successful.
CVV2 / CVC2: Three-digit security codes used to validate card authenticity.
CVV2 Status: Indicates match between entered CVV2 and issuer’s records.
Data Security Standard (DSS): Part of PCI DSS; outlines best practices for protecting cardholder data.
Debit: A charge to a customer's account.
Decline or Declined: Authorization request denial.
Digital Wallet: Enables online shopping and payment without entering card details.
Discount Rate: Percentage fee charged to merchants for processing transactions.
Dispute Resolution: Process for handling chargebacks and transaction disputes.
Doing Business As (DBA): Name/location of a merchant establishment.
Downgrade: Occurs when a transaction does not meet optimal interchange criteria.
Down Time: Period when systems are unavailable.
eCheck: A digital version of a paper check used for electronic payments.
eCommerce: Internet-based commercial transactions.
Electronic Banking: Conducting transactions through the internet or mobile apps.
Electronic Bill Payment (E-pay): Digital method of paying bills via bank or bill payment provider.
Electronic Bill Presentment (EBP): Electronic delivery of vendor bills to consumers.
Electronic Funds Transfer (EFT): Electronic transfer of funds, including ACH, wire, and card payments.
EMV (Europay-Mastercard-Visa): Chip card standard offering secure in-person transactions.
Encryption: Scrambles data for secure transmission.
End-to-End Encryption: Continuous data protection from start to end of transmission.
Enterprise Org ID: Identifier for an enterprise group managing multiple merchant organizations.
Enterprise Organization: Groups multiple merchant organizations under one umbrella.
FDIC (Federal Deposit Insurance Corporation): U.S. agency insuring deposits in banks and savings institutions.
Financial Institution: An organization involved in moving, investing, or lending money.
Funding: Payment to a merchant for deposits submitted.
Gateway (Payment Gateway): Securely transmits transaction data from merchant to processor.
Interchange Fees: Fees collected by the issuing bank to cover processing costs.
Interchange Network: The system enabling data exchange between issuers and acquirers.
ISO (Independent Sales Organization): Independent entities supporting merchant sales and payment services.
ISO ID: Identifier linking merchant accounts to their ISO.
Issuer: Financial institution providing payment cards and credit lines.
Location: A specific merchant account under a Merchant ID.
Location ID: Identifier for a specific merchant account.
Magnetic Ink Character Recognition (MICR): Technology used to print and read characters on checks.
Merchant: A business that accepts card payments in exchange for goods/services.
Merchant Agreement: A written contract between a merchant and an acquirer.
Merchant ID (MID): Unique identifier assigned to a merchant by CSG Forte.
Merchant Services: Services enabling merchants to accept electronic payments.
MCC (Merchant Category Code): Code assigned based on the merchant’s products/services.
Organization: The legal business entity managing merchant accounts in Dex.
Org ID: Identifier grouping multiple merchant locations under one organization.
Partial Reversal Status: Indicates the outcome of a partial reversal transaction.
Payment Amount: Amount submitted and authorized for a transaction.
Payment Gateway: (See Gateway)
Payment Method: Type of payment used in a transaction (e.g., credit card, eCheck).
PCI DSS (Payment Card Industry Data Security Standards): Standards for securing cardholder data and reducing fraud.
Point-of-Sale (POS): Location where a transaction is completed.
Re-presentment: Re-submission of a chargeback dispute with supporting documentation.
Reseller: Offers third-party products/services in addition to its own.
Reversal: Creates an offsetting transaction for a previously settled one.
Secure Payment Page: Encrypted page used for entering and submitting payment details online.
Settlement: Transfer of funds between acquirers and issuers.
Settlement Amount: The amount processed for settlement.
Settlement Date/Time: Date/time a transaction is submitted for settlement.
Settlement Error: Transaction error during settlement process.
Tokenization: Replaces sensitive card data with a random token for security.
Transaction: Exchange between a cardholder and merchant involving payment.
Transaction ID (Trans ID): Unique identifier for each transaction.
Transaction Status: Indicates the processing state of a transaction.
Transaction Type: Specifies the kind of transaction and associated actions.
Unauthorized Transaction: A transaction not specifically authorized by the cardholder.
Under Review: Transaction currently being evaluated prior to processing.
Void: Transaction marked to be excluded from settlement.