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Merchant Service

Glossary - B

Merchant Services Terms Glossary

These terms occur frequently in both the merchant services industry and on our website.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

 

Glossary Terms

Balance

The amount of money owed by the Cardholder to the Issuer for charges on a Credit Card.

Bankcard

A payment Card issued by a Bank.

Bank Identification Number (BIN)

The identification number assigned to a Member that is used for Card issuing, Authorization, clearing and Settlement processing.

Batch

The accumulated Card Transactions stored in the Terminal or Host computer.

Batch Header

A summary, similar to a deposit slip, of a group of Card Transactions accepted by a Merchant who does not process Transactions electronically. It is attached to the Transaction Receipts when they are sent to the paper processor.

BIN

See Bank Identification Number

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