 |
 |
|
|
F
| Term |
Definition |
| Factoring |
One Seller's depositing to its account drafts that have
originated from the sales of another Seller, generally one
that cannot obtain a Seller account in its own name.
|
| Fees or Seller Fees |
Sellers are charged several types of fees for screening and
processing online payments. Fees for products and services
include, but are not limited to costs for the following:
- Monthly Online Seller Account
- Discount rate
- Per item charges for credit card and electronic check
transactions
- Chargebacks
- ACH returns
|
| Front-end Processor |
A company/vendor that provides communication and data
processing services for authorization of card payments and
the transfer of data between Sellers point of sale equipment
to the back-end clearing and settlement processor. The
SecureSource payments service has a proprietary, or in-house
front-end processor.
|
| Fulfillment |
An Acquirer's notice, sent in its outgoing clearing record,
that the requested draft has been supplied, either through
the appropriate Card Association's online or fax systems or
by registered mail.
|
| Future Services |
Any sale in which the complete product or service is not
delivered at the time of the sale transaction. The term may
apply to either face-to-face transactions or mail/phone
orders.
|
Big Sky Commerce, Inc. is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, CA
|
|
