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: |
| 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. |
