Welcome to the Merchant Warehouse Glossary. This section has been designed to provide easy to understand and meaningful definitions to common phrases and terms used in the payment and credit card processing industry.
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Bankruptcy Notification Service
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The Bankruptcy Notification Service is a joint effort of the two major worldwide credit card companies (MasterCard and Visa) to log, track and assess bankruptcy filings and related items. All individual and business bankruptcy filings, and related cases, are gathered from...
Basis Points
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In relation to merchant accounts, basis points are the percentage charged to a company that accepts credit cards by the issuing bank on any credit card transaction. They are commonly denoted as a lower case bp or in the form of an altered traditional percentage symbol...
Batch Processing
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Batch credit card processing refers to settling a group of credit card sales transactions at the same time, usually at the end of a merchant’s business day. Typically, a merchant will use the same credit card sales terminal that processed consumer transactions all day to...
Belly
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Belly is a mobile-based loyalty program created by a Chicago start-up company that offers users rewards and special deals at participating businesses in a manner similar to traditional paper loyalty cards. Funded by Groupon investor Lightbank, Belly focuses on offering unique,...
Business Financials
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Business Financials are essentially documents for which Merchants compile information that describe, in detail, their operation in terms of financial transactions. Business Financials that cover a long-term period of, say, over three years, can be used to create what is...