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PAN Truncation
PAN truncation is an anti-fraud measure available on some credit-card-processing point of sale (POS) terminals as part of a merchant account service. "PAN" is an acronym for primary account number, i.e., the "card number" on either a debit or a credit card. ''PAN truncation'' simply replaces the card number printed on a customer receipt with a printout of only the last four digits, the remainder being replaced usually by asterisks. This hides the card number from anyone who obtains the receipt when discarded, or by other means, while still allowing a card holder with multiple cards to identify which was used, and thus accurately record the transaction. PAN truncation is a measure to combat credit card fraud (and debit card fraud), which is increasing worldwide, particularly in a global market where " card not present" (CNP) transactions are increasingly popular over the Internet, by mail, and by telephone. See also * Tokenization (data security) Tokenization, when appli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Point Of Sale
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but can also be dispensed with or sent electronically. To calculate the amount owed by a customer, the merchant may use various devices such as weighing scales, barcode scanners, and cash registers (or the more advanced "POS cash registers", which are sometimes also called "POS systems"). To make a payment, payment terminals, touch screens, and other hardware and software options are availabl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant Account
A merchant account is a type of bank account that allows businesses to accept payments in multiple ways, typically debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. In some cases a payment processor, independent sales organization (ISO), or member service provider (MSP) is also a party to the merchant agreement. Whether a merchant enters into a merchant agreement directly with an acquiring bank or through an aggregator, the agreement contractually binds the merchant to obey the operating regulations established by the card associations. A high-risk merchant account is a business account or merchant account that allows the business to accept online payments though they are considered to be of high-risk nature by the banks and credit card processors. The industries that possess this account are adult industry, travel, Forex trading business, multilevel market ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Card Number
A payment card number, primary account number (PAN), or simply a card number, is the card identifier found on payment cards, such as credit cards and debit cards, as well as stored-value cards, gift cards and other similar cards. In some situations the card number is referred to as a bank card number. The card number is primarily a card identifier and may not directly identify the bank account number/s to which the card is/are linked by the issuing entity. The card number prefix identifies the issuer of the card, and the digits that follow are used by the issuing entity to identify the cardholder as a customer and which is then associated by the issuing entity with the customer's designated bank accounts. In the case of stored-value type cards, the association with a particular customer is only made if the prepaid card is reloadable. Card numbers are allocated in accordance with ISO/IEC 7812. The card number is typically embossed on the front of a payment card, and is encoded o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debit Card
A debit card, also known as a check card or bank card is a payment card that can be used in place of cash to make purchases. The term '' plastic card'' includes the above and as an identity document. These are similar to a credit card, but unlike a credit card, the money for the purchase must be in the cardholder's bank account at the time of a purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase. Some debit cards carry a stored value with which a payment is made (prepaid card), but most relay a message to the cardholder's bank to withdraw funds from the cardholder's designated bank account. In some cases, the payment card number is assigned exclusively for use on the Internet and there is no physical card. This is referred to as a virtual card. In many countries, the use of debit cards has become so widespread they have overtaken checks in volume, or have entirely replaced them; in some instances, debit ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Card
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges). The card issuer (usually a bank or credit union) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. There are two credit card groups: consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards (stainless steel, gold, palladium, titanium), and a few gemstone-encrusted metal cards. A regular credit card is different from a charge card, which requires the balance to be repaid in full each month or at the end of each statement cycle. In contrast, credit cards allow the consumers to build a continuing balance of debt, subject to interest being charged. A credit car ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asterisk
The asterisk ( ), from Late Latin , from Ancient Greek , ''asteriskos'', "little star", is a typographical symbol. It is so called because it resembles a conventional image of a heraldic star. Computer scientists and mathematicians often vocalize it as star (as, for example, in ''the A* search algorithm'' or '' C*-algebra''). In English, an asterisk is usually five- or six-pointed in sans-serif typefaces, six-pointed in serif typefaces, and six- or eight-pointed when handwritten. Its most common use is to call out a footnote. It is also often used to censor offensive words. In computer science, the asterisk is commonly used as a wildcard character, or to denote pointers, repetition, or multiplication. History The asterisk has already been used as a symbol in ice age cave paintings. There is also a two thousand-year-old character used by Aristarchus of Samothrace called the , , which he used when proofreading Homeric poetry to mark lines that were duplicated. Origen is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Card Fraud
Credit card fraud is an inclusive term for fraud committed using a payment card, such as a credit card or debit card. The purpose may be to obtain goods or services or to make payment to another account, which is controlled by a criminal. The Payment Card Industry Data Security Standard (PCI DSS) is the data security standard created to help financial institutions process card payments securely and reduce card fraud. Credit card fraud can be authorised, where the genuine customer themselves processes payment to another account which is controlled by a criminal, or unauthorised, where the account holder does not provide authorisation for the payment to proceed and the transaction is carried out by a third party. In 2018, unauthorised financial fraud losses across payment cards and remote banking totalled £844.8 million in the United Kingdom. Whereas banks and card companies prevented £1.66 billion in unauthorised fraud in 2018. That is the equivalent to £2 in every £3 of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debit Card
A debit card, also known as a check card or bank card is a payment card that can be used in place of cash to make purchases. The term '' plastic card'' includes the above and as an identity document. These are similar to a credit card, but unlike a credit card, the money for the purchase must be in the cardholder's bank account at the time of a purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase. Some debit cards carry a stored value with which a payment is made (prepaid card), but most relay a message to the cardholder's bank to withdraw funds from the cardholder's designated bank account. In some cases, the payment card number is assigned exclusively for use on the Internet and there is no physical card. This is referred to as a virtual card. In many countries, the use of debit cards has become so widespread they have overtaken checks in volume, or have entirely replaced them; in some instances, debit ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Card Not Present Transaction
A card-not-present transaction (CNP, mail order / telephone order, MO/TO) is a payment card transaction made where the cardholder does not or cannot physically present the card for a merchant's visual examination at the time that an order is given and payment effected. It is most commonly used for payments made over the Internet, but can also be used with mail-order transactions by mail or fax, or over the telephone. Card-not-present transactions are a major route for credit card fraud, because it is difficult for a merchant to verify that the actual cardholder is indeed authorizing a purchase. If a fraudulent CNP transaction is reported, the acquiring bank hosting the merchant account that received the money from the fraudulent transaction must make restitution to the cardholder, which is called a chargeback. This is the opposite of a card present transaction, when the issuer of the card is liable for restitution. Because of the greater risk, some card issuers charge a greater t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internet
The Internet (or internet) is the global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a '' network of networks'' that consists of private, public, academic, business, and government networks of local to global scope, linked by a broad array of electronic, wireless, and optical networking technologies. The Internet carries a vast range of information resources and services, such as the inter-linked hypertext documents and applications of the World Wide Web (WWW), electronic mail, telephony, and file sharing. The origins of the Internet date back to the development of packet switching and research commissioned by the United States Department of Defense in the 1960s to enable time-sharing of computers. The primary precursor network, the ARPANET, initially served as a backbone for interconnection of regional academic and military networks in the 1970s to enable resource shari ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mail
The mail or post is a system for physically transporting postcards, letters, and parcels. A postal service can be private or public, though many governments place restrictions on private systems. Since the mid-19th century, national postal systems have generally been established as a government monopoly, with a fee on the article prepaid. Proof of payment is usually in the form of an adhesive postage stamp, but a postage meter is also used for bulk mailing. With the advent of email, the retronym "snail mail" was coined. Postal authorities often have functions aside from transporting letters. In some countries, a postal, telegraph and telephone (PTT) service oversees the postal system, in addition to telephone and telegraph systems. Some countries' postal systems allow for savings accounts and handle applications for passports. The Universal Postal Union (UPU), established in 1874, includes 192 member countries and sets the rules for international mail exchanges as a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Telephone
A telephone is a telecommunications device that permits two or more users to conduct a conversation when they are too far apart to be easily heard directly. A telephone converts sound, typically and most efficiently the human voice, into electronic signals that are transmitted via cables and other communication channels to another telephone which reproduces the sound to the receiving user. The term is derived from el, τῆλε (''tēle'', ''far'') and φωνή (''phōnē'', ''voice''), together meaning ''distant voice''. A common short form of the term is ''phone'', which came into use early in the telephone's history. In 1876, Alexander Graham Bell was the first to be granted a United States patent for a device that produced clearly intelligible replication of the human voice at a second device. This instrument was further developed by many others, and became rapidly indispensable in business, government, and in households. The essential elements of a telephone are a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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