Merchant System Bank Card
Unexpired credit card affiliated with the credit card company (for example, Visa USA, Merchant System, MasterCard International) or branded debit cards, ATM cards, and any other card or device other than cash or checks which are affiliated to a recognized banking network established merchant bank card acceptance with the acquisition.
Cardholder Information
Data that personally identifiable information associated with the card holder including account numbers, expiration date, card number verification (eg, CVV2, CVC2), transaction information or any other information that can be used to identify the card or bank account.
Merchant Campus Agreement
An agreement between the FSO-Bursar Campus Banking & Merchant and Merchant Service outline the responsibilities of the campus, rules, regulations and contractual provisions and obligations of the bank card operation. The agreement shall be signed by the head unit that provides the option to receive a bank card to sell goods and services to their customers.
Payments based process
Internet site controlled system, application software and communication protocols to interact together for the purpose of arresting and transferring bank card holders information obtained through the Internet and securely store information in a single repository, which is commonly known as the "gateway".
Merchant System Chargeback
Reduction of cash receipts by bank traders who started taking over in response to the transaction was declined by the acquiring bank, issuing bank or disputed by the cardholder.
Merchant System Facilities Fee (s a.k.a.)
Costs imposed on the dealer's card holders to cover expenses to provide convenient payment channels instead (eg, Internet, self-service kiosk, Interactive Voice Response (IVR)).
Merchant System Card Verification Value
A 3 or 4 digit code printed on the back or front of the bank card; important security features that protect the Internet and telephone transactions from fraud. The value of the card verification to make sure that credit card number is valid and that the card belongs to the buyer.
Discount Fee
Costs imposed on merchants by the banks took over in exchange for the privilege to receive the card. The discount fee consists of three components:
Interchange - non-negotiable fee established by the credit card associations collected from the merchant bank and paid by the bank's acquisition of the issuing bank to acquire.
Evaluation / access - non-negotiable fee established by the credit card associations collected from the merchant bank and paid by the bank's acquisition to acquire the credit card associations.
Processor fee - negotiable costs established by contract which is collected by the bank for their own gain. Processing fees negotiated and contracted through the Request for Proposal process (RFP) and the Office of University Financial Services.
E-commerce
Web-based business transactions using electronic payments such as bank cards.
FSO-Bursar Campus Banking & Merchant Services
A team of the Treasurer's Office staff who provide services, information, merchant account set up, and act as liaison between the Unit and the Merchant System Acquiring Bank.
Merchant System Bank issue
Financial institutions that provide credit to the cardholder with a credit card issued to the cardholder.
Merchant Unit / Department of Merchant
A university department or a combination of the University who have received the appropriate permission before accepting the card as a form of payment for services performed or for goods sold by department or affiliate. Merchant assigned a particular merchant account (s) with bank acquisitions. Merchants fall into one of the following three categories:
Retail Merchant - carry the entire card transactions in an environment that faces the physical card present for the transaction.
Phone / mail merchant - to generate the form of cardholder information either through telephone communications with the card, by mail, or through stand-alone fax machine is not connected to any computer network.
Internet Merchant (eCommerce) - to conduct all transactions through the Internet in their card-based payment process.
Merchant Account
Unique account established by acquiring banks used to track equipment, transaction fees, compliance activities, and a contact and all information related to the dealer.
Merchant Responsible Person (MRP)
A designated individual units in the merchant unit that will have primary authority and responsibility for eCommerce and the processing bank card transactions.
Merchant System Operational Guidelines
Regulations and procedures Merchant System issued by the bank to acquire the operating parameters that each merchant must comply upon receiving the card as a form of payment.
Solution
The process by which a single merchant or group presenting the financial transactions to the bank for the purpose of changing the acquisition of credit information collected from the card into the cash receipts.
