MasterCard Rules (PDF)

MasterCard PayPass Magnetic Stripe Profile Transaction
A Contactless Chip Transaction in which the POS Terminal receives static and dynamic data from
the chip and constructs messages that can be transported in a standard magnetic stripe message
format, in compliance with the Standards.
MasterCard PayPass-M/Chip Transaction
A Contactless Chip Transaction in which the POS Terminal and the chip exchange data, enabling
the chip to approve the Transaction offline on the Issuer’s behalf or to request online authorization
from the Issuer, in compliance with the Standards.
MasterCard Word Mark
The word “MasterCard,” which should be followed by a registered trademark ® symbol or the
local law equivalent. The Corporation is the exclusive owner of the MasterCard Word Mark.
Member, Membership
A financial institution or other entity that has been granted membership in and has become a
member of the Corporation in accordance with the Standards. A Member is also referred to as a
Customer. “Membership” means membership in the Corporation. Membership is also referred to
as Participation.
Merchant
A commercial entity or person that, pursuant to a Merchant Agreement, is authorized to accept
Cards when properly presented.
Merchant Agreement
An agreement between a Merchant and a Customer that sets forth the terms pursuant to which
the Merchant is authorized to accept Cards.
Mobile Payment Device
A Cardholder-controlled mobile phone containing a payment application that is compliant with
the Standards. A Mobile Payment Device is differentiated from an Access Device in that a Mobile
Payment Device uses an integrated keyboard and screen to access a MasterCard account. See Card.
Mobile POS (MPOS) Terminal >>
A MPOS Terminal enables a mobile device to be used as a POS Terminal. Card “reading” and
software functionality that meets the Corporation’s requirements may reside within the mobile
device, on a server accessed by the mobile device, or in a separate accessory connected (such as
via Bluetooth or a USB port) to the mobile device. The mobile device may be any multi-purpose
mobile computing platform, including, by way of example and not limitation, a feature phone,
smart phone, tablet, or Personal Digital Assistant (PDA).
©1969–2012 MasterCard. Proprietary. All rights reserved.
6 12 December 2012 • MasterCard Rules