Authorization Code

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An authorization code is a numerical or alphanumerical code sent directly by a credit card issuer or issuing bank that is uniquely ascribed to a sales transaction as verification that the completed sale has been authorized. During the time of sale, it is always returned by...

Authorization Fee

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A credit card authorization fee (which is actually an authorization request fee) is the amount of money that is charged directly to an individual merchant account each time communication is made between credit card processing software (when the sale transaction is...

Authorize.net

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A public corporation founded in 1996 in Utah, Authorize.Net is a payment gateway service provider, which is a system of processes and technologies that allow merchants to electronically submit credit card payment transactions to payment processing networks, such as a...

Automated Clearing House

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The ACH is a secure computer network that efficiently connects individuals, businesses and banks together through the Federal Reserve System enabling electronic payments to flow safely from start to finish. In today’s computer-connected global economy, money of all amounts...

Automated Response Unit (ARU)

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An Automated Response Unit – or ARU – allows the manually keyed entry and the subsequent authorization of a credit card transaction over a traditional landline telephone or cell phone service. An Automated Response Unit can also refer to the series of credit card and...

Average Ticket Size

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Average Ticket Size or AVT is the average dollar amount of the credit card transactions that a merchant anticipates processing or ultimately processes over a certain time. It essentially refers to how much the average customer will spend through the merchant for goods or...