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| Term |
Definition |
| ABA Routing Number |
Also referred to as a Transit Routing Number. Directs
electronic ACH deposits to the proper bank institution.
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| ACH (Automated Clearing House) |
The paperless funds transfer system maintained by the
Federal Reserve or other entities that have networks to
exchange electronic funds transfer items.
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| Acquirer |
Any bank, financial institution, and public or private
company that maintains a Seller's credit card processing
relationship and receives all transactions from the Seller
to be distributed to the credit card issuing banks.
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| Address Verification (AVS) |
A service provided in which the Seller verifies the
Cardholder's address with the Issuing Bank. Address
verification is not a guarantee that a transaction is valid.
Address Verification System (AVS) compares the billing
address information provided by the customer online with the
billing address on file at the customer's credit card
issuing bank. The Payment Gateway reports the AVS response
code to you, the Merchant, (match or no match) and, after
screening for the AVS response codes that you have chosen to
allow pass through the system, accepts or rejects
transactions accordingly.
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| Adjustment |
A debit or credit to a Cardholder or Seller account to
correct a transaction error.
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| Arbitration |
The process followed by the Card Associations to determine
whether an Issuer or an Acquirer has ultimate responsibility
for a chargeback. Either member initiates this process after
the re-presentment process is completed.
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| Associations |
Any entity formed to administer and promote credit cards,
including but not limited to MasterCard International®,
VISA®, U.S.A., or VISA International®, that are licensing
and regulatory agencies for credit card activities.
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| Authorization |
Approval of a bankcard transaction by the card-issuing banks
or approved independent service providers, for a specified
dollar amount. An authorization indicates only the
availability of the card member's credit limit at the time
the authorization is requested.
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Big Sky Commerce, Inc. is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, CA
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