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Merchant Bankcard Application AgreementClose it
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Personal GuarantyClose it
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Loaner AgreementClose it
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FREQUENTLY ASKED QUESTIONS


General Questions

  1. What is Member Service Provider (MSP)?
  2. What is Merchant Identification Number (MID)?
  3. What is Dynamic Currency Conversion (DCC)?
  4. What is Truncation?
  5. What is Interchange?
  6. What is Authorization?
  7. What is Settlement?
  8. What is “Call Auth”?
  9. What is Code 10 authorization?
  10. What is Address Verification Service (AVS)?
  11. What is Batch?
  12. What is Demand Deposit Account (DDA)?
  13. What is Doing Business As (DBA)?
  14. What is “decline”?
  15. What is a debit card?
  16. What is the Debit ATM Card?
  17. What is the “Check” Card?

General Questions:

1. Q: What is Member Service Provider (MSP)?
A: A Member Service Provider (MSP) is a licensed broker of credit card services to merchants.

2. Q: What is Merchant Identification Number (MID)?
A: A unique identification number assigned to a Merchant to identify its business (also referred to as the “Merchant Account”).

3. Q: What is Dynamic Currency Conversion (DCC)?
A: DCC converts international Visa and MasterCard credit card purchases into the cardholder’s home currency at the point of sale.

4. Q: What is Truncation?
A: The credit card account number must be truncated on all card-holder-receipt, truncated digits should be replaced with a fill character such as “x”,”#”, or “*”, and not with a blank space or numeric characters.

5. Q: What is Interchange?
A: Interchange qualification requirements, as defined by the Credit Card Associations, affect the Merchant’s fee or surcharges owed for transactions. Merchant will pay a higher discount rate, higher fees, and surcharges for Transactions that do not meet the best rate qualification criteria or have been processed in a manner other which the merchant was approved.

6. Q: What is Authorization?
A: Merchant’s request for approval of a sales transaction by an issuer. Authorization is initiated by accessing the authorization center by telephone or electronic terminal.

7. Q: What is Settlement?
A: The clearance through interchange of the credit card transactions accumulated by the merchant in the terminal host so the merchant can be paid for them.

8. Q: What is “Call Auth”?
A: This response indicated that the Issuing Bank wants the merchant to call the voice authorization center, which will either give an approval code or ask the merchant to get additional information that the Issuing Bank has requested, such as address or mother’s maiden name. The voice authorization operator will give the requested information to the issuing bank and the issuing bank will either approve or decline the sale.

9. Q: What is Code 10 authorization?
A: An authorization or an “additional verification step” obtained for a suspicious or questionable transaction, card or cardholder.
For Visa/MasterCard/Discover: 1-800-834-0409 begin_of_the_skype_highlighting 1-800-834-0409 end_of_the_skype_highlighting
For Amex: 1-800-528-212

10. Q: What is Address Verification Service (AVS)?
A: A fraud-reduction service that allows a Merchant to verify a Cardholder’s billing address prior to completing a Card Not Present Transaction.

11. Q: What is Batch?
A: The accumulated card transactions stored in the POS (Point Of Sale) Device or Host computer.

12. Q: What is Demand Deposit Account (DDA)?
A: A commercial banking account designed by the merchant through which all transactions, fees, charges, adjustments, and chargeback are processed.

13. Q: What is Doing Business As (DBA)?
A: The trade name of a Merchant that may appear on business signs, customer literature, or other documents.

14. Q: What is “decline”?
A: A “decline” code indicates that the card issuer does not approve the transaction.

Debit Cards
15. Q: What is a debit card?
A: Debit cards allow purchase amounts to be deducted directly from the cardholder’s checking or saving account.

16. Q: What is the Debit ATM Card?
A: ATM stand for “automated teller machine.” ATM cards are issued to customers who open a checking or saving account at a financial institution to allow customers access to their accounts anytime.

17. Q: What is the “Check” Card?
A: A “check” card is a debit card with the Visa or MasterCard logo that can be used either as a regular credit card or as a debit card.