Average Ticket

The term “Average ticket” is also known as “Average Sales Ticket” or the abbreviated “AVT.”. Most merchant account applications require this dollar amount from merchants. With all items included in a typical final sale, their average dollar amount represents the … Continue reading

Signature Debit

To understand how signature debit works when talking about debit cards, one must understand the difference between a debit card and a credit card. Debit cards draw money from an account which already has funds in it. Credit cards draw … Continue reading

Issuing Bank

An issuing bank is the company that owns the credit or debit card that are issued to a customer. These banks send out the cards, manage account information for their customers, and more. Typically, the name of the bank appears … Continue reading

PIN Debit

Pin debits occur when customers swipe their debit cards, after making a purchase. The pin debit number is a secured four digit pin, known only to customers, who created the pin. Pin debit is referred to as Personal Identification Number. … Continue reading

Imprinter

A credit card printer is employed to create a carbon copy imprint of cards used by customers for purchases. Card impressions are made by inserting and stabilizing a credit card within a groove embedded in the imprinter along with a … Continue reading

Virtual Terminal

Virtual terminals allow merchants to accept credit card payments using a computer with an Internet connection. These applications require no software because they are web-based. They accept both keyed and swiped transactions just like virtually any credit card terminal found … Continue reading

Payment Gateway

To accept credit card payments via the Internet, merchants must have a payment gateway. The gateway is a middle process between a website’s order entry and a bank. It acts as a security measure to protect financial data by encrypting … Continue reading

Sub-ISO

A sub-ISO is a term used in credit card processing that can refer to merchant account providers that are subsidiaries, affiliates, partners and/or resellers of an actual Independent Sales Organization (ISO). Sub-ISOs are sales organizations that resell services of larger … Continue reading

Reseller

A reseller is a person who offers another company‚Äôs items for sale, yet they have the freedom to set some of their own terms. They usually can set their own prices and create their own policies for consumers, but they … Continue reading