Dictionary of Payment Terminology

The Dictionary of Payment terminology is a tool that is designed to be used to look up the definitions of commonly used terms and acronyms in the Electronic Payments Industry.

Index


Payment Industry Term
Acronym
3-D Secure
A Visa-approved Authentication Method that is the global authentication  standard for Electronic Commerce Transactions.
3-D Secure Specification
A software protocol that enables secure processing of Transactions over  the Internet and other networks.
Acceptance Device  
A Card-reading device managed by a Member or a Merchant for the  purpose of completing a Visa Transaction.
Account Data Compromise Event  
An event in which account data is put at risk.
Account Executive
AE
The senior sales representative interfacing with the client on the opportunity that has created the need for onboarding
Account Funding Transaction  
A Transaction that transfers funds from a Visa account to another Visa or non-Visa account.
Account Information Security Program
A program managed by Visa that defines the standards of due care and enforcement for protecting sensitive Cardholder information and supports both:
Account Manager
AM
Account Number
An Issuer-assigned number that identifies an account in order to post a Transaction. Account Number in the Exception File for Transactions that do not require Authorization.
Acquirer  
A Member that signs a Merchant or Payment Facilitator, provides a Cash Disbursement to a Cardholder, or loads funds to a Visa Prepaid Card, and directly or indirectly enters a Transaction into Interchange.
Acquirer Device Validation Toolkit
ADVT
ADVT is a set of test cards or simulated test cards and test cases to be used on new or upgraded EMV terminals to ensure correct terminal configuration
Anti-Money Laundering Anti-Terrorist Funding/ Financing
AML/ ATF
This review is performed to protect Visa's payment system by reducing the risk that it is used to facilitate money laundering or terrorist financing. Money laundering is the process by which the proceeds of criminal conduct appear to have derived from a legitimate source.
AP
Asia-Pacific.
Asia Pacific Region
AP
Authentication Method
A Visa-approved protocol, such as Verified by Visa, that meets the minimum standards for authenticating a Cardholder in an Electronic Commerce Transaction.
Authentication Record
A record of the Verified by Visa authentication status from a Verified by Visa Issuer in response to an Authentication Request. Authentication Records include:
  • Attempt Responses
  • Authentication Confirmations
  • Authentication Denials
  • Non-Participation Messages
  • Unable-to-Authenticate Responses
Authentication Request
A request for Cardholder authentication from a Verified by Visa Merchant.
Automated Fuel Dispenser
An Unattended Cardholder-Activated Terminal that dispenses only fuel such as gasoline, diesel fuel, or propane.
Automated Teller Machine
ATM
A terminal that dispenses cash or provides debit/credit services.
Balance Inquiry
A Cardholder request for an account balance that is initiated at an ATM and processed as a separate, non-financial transaction.
Balance Inquiry Service
An ATM service that allows a Cardholder to check an account balance through VisaNet.
Bank Identification Number
BIN
A 6-digit numeric identifier licensed to Members and used in Visa Systems.
Business Development
BD
See AE
Business Identification
BID
An 8-digit unique Member identifier assigned by Visa to clients
Card
A valid Visa Card, Visa Electron Card, or Proprietary Card bearing the Plus Symbol.
Cardholder  
An individual who is issued a Visa Card.
Cash Disbursement  
Currency, including travelers cheques and excluding Cash-Back, provided to a Cardholder as follows:
  • As a Manual Cash Disbursement
  •  
  • Through an ATM
CEMEA
Central and Eastern Europe, Middle East, and Africa.
Central Europe, Middle East and Africa Region
CEMEA
Chip  
An electronic component designed to perform processing or memory functions that communicates with an Acceptance Device using a contact or Contactless interface and enables Visa Transaction processing or performs other Visa-approved functions.
Chip-Reading Device  
An Acceptance Device capable of reading, communicating, and processing Transaction data from a Chip Card.
Claim
Personal injury, property losses, damages (including lost profits or savings, indirect, consequential, special, exemplary, punitive, or incidental), losses, penalties, fines, suits, expenses, and costs (including attorney’s fees).
Client Configuration Management
CCM
The CCM team is responsible for configuring all new client program setups, new services and processor conversions on Visa's systems
Client Information Questionnaire
CIQ
Form that client fills out with key information required to set them up on VisaNet
Contactless  
A Visa-approved wireless interface used to exchange information between a Visa Card and an Acceptance Device.
Contactless Payment Device  
A payment device (including contactless Cards and devices, mobile telephones, and Visa Micro Tags) that uses a Visa-approved wireless interface to access a Visa account and that provides the ability to conduct a Contactless Payment.
Contactless Transaction
A Transaction conducted over a Visa-approved wireless interface.
Credit Settlement Risk
CSR
Visa has a formalized set of credit standards for managing Credit Settlement Risk for clients participating in Visa programs. This requires a review and credit evaluation of every new applicant or existing client and country where a client is domiciled. A client that fails to meet any of the credit standards will require risk controls to be implemented. Clients that do not meet defined credit standards, country and/or institutional, are required to pledge collateral. Settlement risk to the Visa payment network arises as a result of Visa's settlement indemnification and promise to clients.
Cryptogram
A value resulting from a combination of specific key data elements that are used to validate the source and integrity of data.