Credit Card

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A credit card is a thin plastic card, roughly three by two inches in size, which is used by consumers and companies to make purchases. It contains account and identification information on the magnetic “stripe” that is on the back, although some future cards now being...

Credit Card Fraud

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Credit card fraud occurs when anyone uses another person’s credit card as a source of illegal funds. It doesn’t matter whether it is for a purchase of goods or services, or a cash advance. If the user is not the owner, the transaction is fraudulent. There are several...

Credit Card Processing

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Credit card processing is a complex series of electronic events that accomplishes the secure, successful transfer of funds from a bank to a merchant in payment for goods and services purchased by a valid credit card holder. People buy goods and services all around the...

Credit Card Processors

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Credit card processors are businesses, including but not limited to chartered financial institutions, that give merchants the ability to accept debit and credit card payments for goods and services. These services support a wide variety of transactions, from in-person and...

Credit Card Terminal

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A credit card terminal is a real or virtual business device that allows merchants to process cardholder payments. The terminal acts as a key point on the node of the typical credit card purchase process. It transmits data via a dedicated phone line, wireless device, or web...

Credit Report

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A credit report is a complete history of financial transactions conducted by an individual, a business or even a country over a fixed period of time. “Credit reporting agencies” are companies that keep these reports and provide their findings, for a fee, to banks and other...

Customer Engagement

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Customer engagement involves the ongoing interactive relationship between a customer and a particular business or brand. Instead of thinking exclusively about siloed touch points, businesses work to maintain an continuous dialogue with customers through all available channels....

CVV (Card Verification Value Code)

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The CVV code (Card Verification Value code) is a three- or four-digit number printed on credit cards, usually on the back. It was created to protect merchants and credit card issuing banks from fraudulent purchases in what are termed “cardholder not present” purchases....

Data Capture

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Data capture is a broad term that defines any type of information, in any form, that is transmitted through and stored in computers according to specific input fields. These days even the word computer is vague as more and more electronic devices such as cell phones, game...

Debit Cards

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Debit cards have the same form factor and magnetic stripe as credit cards, but are linked to a designated bank account of yours. Instead of getting a monthly bill for credit card usage that will contain interest and penalties, with a debit card the funds are immediately...