Quick Links:
Home > Credit Card Solutions > ...
Buyers' Guide to
Online Payment Acceptance
Chapter 2: Commonly Used
Words & Phrases
Throughout
this guide you'll find some words and phrases
that you might not understand. For your benefit
and better understanding, we've included
definitions for some of those commonly used
words. This should help clear up any confusion
that might otherwise occur as you use this guide.
Merchant Account Provider: This
is the company that helps set you up with the
proper merchant account and provides the software
or equipment needed to perform credit card
transactions. They may also be able to provide
you with other payment acceptance services such
as debit card processing and online checks.
Merchant Account Providers are also known as
Independent Service Organizations (ISO) or
Agents.
Secure Gateway Provider: These
companies ensure that the connection between the
merchant web site and the Merchant Processor are
secure.
Merchant Processor: They are the
ones that actually process the credit card/check
transaction.
Virtual Terminal: This is the
"online terminal" that allows you to
manually type in credit card orders via your web
browser. It usually comes with a Real-Time
processing solution.
|
