| Acquiring Bank |
A bank having a business
relationship with a merchant and receiving all credit
card transactions from that merchant. This can also be
called a merchant bank. |
| Batch Validation |
The accumulation of captured
transactions waiting to be settled. |
| Card Issuing Bank |
This bank provides the
customer's credit card. The merchant's acquiring bank
completes a credit card transaction with this bank. |
| Charge-Back |
Credit card transaction
billed back to the merchant who made the sale. Charge-Backs
occur when a credit cardholder disputes a charge on their
bill by claiming the product was never delivered or the
cardholder was dissatisfied with it in some way. |
| Digital Certificate |
Virtual fingerprints
authenticating the identity of a person. The certificate
itself is simply a collection of information to which
a digital signature is attached. |
| Digital Signature |
Piece of data sent with
an encoded message to uniquely identify the originator
and verify the message has not been altered after sending. |
| Encryption |
Coding placed on messages
sent across the Internet. The coding scrambles the message
making it difficult to be attacked by hackers. SSL has
built in encryption to code the messages that can only
be unscrambled by a server with a digital server ID. |
| IP Address |
Internet Protocol address.
Every system connected to the Internet has a unique IP
address, which consists of a number in the format A.B.C.D
where each of the four sections is a decimal number from
0 to 255. Most people use Domain Names instead and the
network and the Domain Name Servers handle the resolution
between Domain Names and IP addresses. With virtual hosting,
a single machine can act like multiple machines (with
multiple domain names and IP addresses). |
| IVR |
Interactive Voice Response.
An IVR is an automated telephone answering service which
prompts your caller to enter information using their phone's
keypad. This service can be used to take credit card payments
by prompting users for an Account Number, and Amount,
and a Credit Card Number. SecurePay's software will then
process the payment in real time, and play back a message
to the caller stating whether or not the transaction was
successful. |
| Java Runtime Environment |
Some SecurePay software
requires the Java Runtime Environment to be installed
on the user's computer. The JRE is freely downloadable
software from http://java.sun.com/
and allows SecurePay's software to be portable to any
operating system. The software is small and runs in the
background of SecurePay's software. |
| Merchant ID |
When you apply for your Internet Merchant Account with
your financial institution, they will issue you a Merchant
ID which you must supply to SecurePay. SecurePay refers
to this as a Bank Merchant ID.
SecurePay will also issue you with a Merchant ID, uniquely
identifying your business as a SecurePay Merchant. This
is referred to as a SecurePay Merchant ID.
|
| Merchant Service Fee |
A fee the acquiring bank
pays to the card-issuing bank to process a transaction
involving the cardholder's account. This fee is regulated
by MasterCard and Visa and is a percentage of the total
transaction. |
| Online Authorisation |
The act of ensuring that
the cardholder has adequate funds available against their
line of credit. A positive authorisation results in an
authorisation code being generated, and those funds being
set aside. The cardholder's available credit limit is
reduced by the authorised amount. |
| Periodic Payment |
A payment which is made
regularly, e.g. weekly, fortnightly, monthly, etc., from
the same credit card. SecurePay can set up periodic payments
to be deducted automatically when due. |
| Public Key Cryptography |
Public Key Cryptography
uses a pair of related keys-a public key, which is freely
distributed and can be seen by all users; and a corresponding
unique private key, which is kept secret and not shared
among users. Thereby ensuring privacy and verifying the
identity of the sender. These keys can be gained from
a Certificate Authority (CA) such as VeriSign, Inc. |
| Real Time Transaction |
The customer visits your
web site and selects the products or services to be purchased.
Order information and credit card details are entered.
The credit card transaction is then processed immediately
through a completely automated system with no human intervention,
and returns a response from the bank within seconds. |
| Shopping Cart |
Software that facilitates
easy selection and payment for multiple products purchased
by a customer from a merchant's web site. |
| Settlement Date |
A date returned by the
Acquiring Bank for each transaction denoting the date
when the approved funds will be trasferred from the customer's
account into the merchant's account. |
| SSL |
Secure Socket Layer.
Method of encrypting web pages, and data sent via web
forms. Uses 128-bit encryption. Secure web pages are denoted
by a small padlock in the bottom right corner of your
browser, or a URL beginning with "HTTPS" instead
of "HTTP". |
| Terminal ID |
A number supplied by
your bank which maps your transactions to a terminal at
your bank. Only one transaction may be processing through
a single terminal ID at any one time, however multiple
terminal IDs may be issued to you upon request from your
financial institution. When your transaction volumes become
high, SecurePay will begin using additional terminal IDs
which you supply us with to enable simultaneous payment
processing through SecurePay. |
| Transaction Fee |
A fee charged by the
processor for processing credit card payment sessions
and validations on the payment gateway. |
