Connecting to PaymentTrust's Secure Transaction Network - WorldPay

services after a 48-hour period.
Demand Deposit Account
A standard checking or savings account into which electronic funds can be transferred.
Deposit
The process of transmitting a batch of transactions from the merchant to the acquiring institution
for deposit preparation. It marks a previously authorized transaction for funds capture during the
next deposit period. Merchants who do not ship goods immediately should use this transaction
type after fulfilling their sales obligation.
Discount fee
Fee paid by the merchant to the merchant bank or other contracted party for processing the
merchant's credit card sales transactions.
Discount Rate
Amount charged to a merchant by the acquiring bank for transaction processing. It usually
represents a percentage of the transaction amount. The rate is typically based on monthly
transaction volume (total dollars) and average ticket. The discount fee is the dollar amount
charged.
Downgraded ICC:
A chip card that only contains track 2 information on it.
Draft Capture
Refers to Deposit.
E
ECR
See Electronic Cash Register.
EFT
See Electronic Funds Transfer.
Electronic Cash Register
The combination of a cash register and a POS terminal, often PC based.
Electronic Funds Transfer
The paperless act of transmitting money through a computer network.
External Sales Agent
Amex term for ISO or MSP.
F
Floor Limit
A preset limit established by an issuer that allowed merchants to accept credit card sales without
authorization provided the merchant verifies the card number on a warning bulletin for lost or
stolen cards. Floor limits are now rarely used.
Fraudulent User
An individual who is not the cardholder or designee and who uses a card to obtain goods or
services without the cardholder's consent.
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