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  • Glossary

    17-01-12
    Acquiring Bank

    A bank or financial institution that accepts debit or credit card Transactions for a cardholder. ......

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  • Glossary

    17-01-12
    HTTPS

    A communications protocol for secure communications over a computer network. ......

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  • Payment related

    17-01-12
    What is a Merchant Category Code (MCC)?

    A 4-digit code designated by a Credit Card company that lists the product, service, or line of business of a merchant. ......

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  • Glossary

    17-01-12
    PCI DSS

    A mandatory set of rules and regulations created to reduce Credit Card fraud. ......

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  • Payment related

    17-01-12
    What is a Recurring Transaction?

    A charge applied to a cardholder in predetermined intervals for services or goods of an ongoing nature (memberships, subscriptions). ......

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  • Payment related

    17-01-12
    What is an Independent Sales Organization (ISO)?

    A third-party sales organization that signs Merchants up to accept Credit Cards on behalf of one or more Acquiring Banks. ......

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  • Glossary

    17-01-12
    Merchant Account

    An account issued by an Acquiring Bank that allows a business to accept Credit and debit cards. ......

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  • Glossary

    17-01-12
    Payment Service Providers

    A third party that helps Merchants accept and facilitate payments. ......

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  • Glossary

    17-01-12
    ACH

    Automated Clearing House – group of processing institutions linked by a computer network to process electronic payment transactions between financial institutions. ......

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  • Glossary

    17-01-12
    ABA Routing Number

    A unique nine-digit number assigned to each banking institution, used to identify the bank and direct ACH debits and credits. The ABA routing number is usually found at the bottom of a personal or business check. ......

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  • Glossary

    17-01-12
    API

    Advanced Programming Interface – APIs allow users to program to a pre-constructed interface, instead of individually programming a device or piece of software. ......

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  • Glossary

    17-01-08
    Fixed fee

    Payment gateway usually charges merchants a small amount for those approved transactions.The amount ranges from 0.10USD to 1.00USD,and it will not be returned even the transaction was refunded or charged back later.This small amount is called fixed fee in ipasspay. ......

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  • Glossary

    17-01-08
    Rolling reserve

    Usually 10% of the order amount will be holded by the payment service provider,and not be sent to the merchants' balance until 180 days later. We call the amount as rolling reserve.This is a anti-risk method taken by the PSP. ......

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  • Glossary

    17-01-08
    Holding period

    For those transactions processed successfully through the payment gateway,merchants can check them in statement list and balance,but they can not withdraw the funds to their bank account due to holding period rules.Normally the holding period ranges form 7 days to 30 days depends on the merchants' b ......

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  • Glossary

    17-01-08
    Withdraw & withdrawal fee

    Withdraw: It's a process that you request your funds in merchant account with ipasspay.com to be wired to your own bank account. Withdrawal fee: Merchants are to be charged a small amount when withdraw money from merchant account. Although merchants can be settled by daily utmost to get cash,i ......

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