Maestro Global Rules (PDF) - MasterCard

Glossary
Glossary
chip
A piece of silicon etched with electronic circuits. A microprocessor chip has an
operating, a programming, and a data memory that allows internal processing
to take place and provides additional storage capacity.
clearing
The process of exchanging Transaction details between an Acquirer and an
Issuer to facilitate both the posting of Transactions to the Cardholder’s Account
and the reconciliation of a Customer’s settlement position.
co-branded card program
A program aimed at issuing Cards to the customer base of a retailer, service
provider or other commercial organization.
communication key
A cryptographic key used for the encipherment and decipherment of
cryptographic keys. Also called a “key enciphering key.”
compliance
The procedure used to resolve disputes between two Customers involving an
alleged violation of the Rules for which no chargeback reason applies.
correction
A credit intended to correct an error in connection with a prior Transaction that
covers all or part of the amount of such prior Transaction.
credit card
A plastic card bearing an account number assigned to a Cardholder with a
credit limit that can be used to purchase goods and services and to obtain cash
disbursements on credit, for which a Cardholder is subsequently billed by an
Issuer for repayment of the credit extended at once or on an installment basis.
credit card account
A transaction account held by an Issuer that represents a revolving line of
credit or pre-approved loan from which funds may be extended upon proper
presentation of a request to pay.
cryptogram
The output from the process of transforming cleartext into ciphertext for
security or privacy.
©1993–2012 MasterCard. Proprietary. All rights reserved.
E-4 9 November 2012 • Maestro Global Rules