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Definitions (65)
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CVC2
A 3 or 4 digit card verification number on the front or back of a credit card that is used in CNP transactions. (Card Verification Code 2 = MasterCard, Card Verification Data = American Express, Card Verification Value 2 = VISA).
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Acquirer/Acquiring Bank
Financial institution which concludes an agreement with merchants for the acceptance of credit cards as a means of payment for goods and services, and settles card payments for merchants.
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Address Verification Service
Checking method for VISA, MasterCard and American Express to prevent fraud for credit card payments in long distance transactions in which the numerical address data provided by the customer is compared with the address data stored at the credit card company.
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Alternative payment methods
These mostly comprise non-card based payment methods such as payment services, wallets, vouchers and bank account based or prepaid methods.
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bank identifier code
BIC (also known as SWIFT Code) is an 8 or 11 digit international bank sorting code for international bank transfer.
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blacklist
See restricted list.
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Chargeback
A process in which the card issuer can call back a transaction either in full or in part. The chargeback applies if a card holder disputes having performed a card transaction. In this case, the issuer files an objection with the acquirer and demands that the transaction amount be returned from the merchant's account.
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CNP
Card transaction in which the card is not physically presented to the merchant, e.g. for an order in long distance trading (internet or MOTO).
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Co-branded card
A Co-branded card is a card issued by a licensed card issuer which bears the design of a third party company.
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