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...

Card Issuer

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A card issuer is a bank or financial institution that provides “card association” branded payment (credit or debit) cards directly to consumers. Card association brands include Visa, MasterCard, American Express, and Discover. Visa and MasterCard issuers co-brand with...

Card Present

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A card present scenario indicates a merchant, sales or market environment in which credit card transactions can be completed only if both a valid credit card and its respective cardholder are both physically present during the transaction. Card present transactions are...

Cardholder

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A cardholder is an individual, merchant or a corporate individual to whom a credit card is issued. The cardholder is the person or company who opens a credit card account and makes purchases using that respective credit card. Often representatives for a merchant or company...

Certified Payments Professional

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The Electronic Transactions Association (ETA) offers the Certified Payments Professional (CPP) designation to individuals who demonstrate both the skills and knowledge necessary to perform well in the field of electronic payments. Many first-time CPPs are sales professionals...

Charge-off

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A Charge-off or write-off is a situation in which a credit card issuing institution is faced with a delinquent loan of such severity that it must temporarily or permanently absorb the entire amount of the debt in order to clear that amount from its records. The credit...

Chargebacks

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A chargeback refers to a previous transaction that is being disputed by the credit card holder or debit card holder or their issuing banking institution. A chargeback typically occurs when a credit card holder disputes an individual charged transaction or when proper...

Checklister

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In the formal course of merchant credit card and other electronic payment processing, a Checklister is a computer program that acts as a system – or what is known as a “gatekeeper” – through which all applications are entered. Once these application are submitted to the...

Contingent Liability

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Contingent liability is a term often used by financial institution underwriters and sales representatives to properly identify a situation created when merchants process credit card transactions ahead of the date that cardholder customers can expect to receive the goods or...

Corporate Resolution

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A corporate resolution is a recorded formal process adopted by a majority of a company’s Board of Directors authorizing the company’s officers or management team to undertake actions on behalf of the entire company. A corporate resolution has the intent of amending the...