Swipe
This is the action of physically sliding a credit card through
a terminal or magnetic stripe reader that "reads" the
magnetic strip on the back of all credit and debit cards. The alternate
method of getting this information into the terminal is by manually
keying it in. The value of swiping cannot be overstated in that
it documents the physical presence of the card at the point-of-sale.
By definition, all swiped transactions are face-to-face transactions.
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T&E
See "Travel and Entertainment."
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T77
- T7P
See "Hypercom."
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Tellan
Software
This is a non-Internet software that works exactly like a "regular"
terminal in terms of how it processes (via land-phone lines). It
is a versatile program that works with any PC or MacIntosh computer
via PCAuthorize and MacAuthorize, their two respective products.
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Terminal
Identification Number (TID)
A Terminal Identification Number is used to identify a specific
serial-numbered piece of equipment.
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Test
Transaction
A test transaction is a means for the merchant to test a terminal
that has been freshly down-loaded or changed in some way. When asking
a merchant to complete a test transaction, re-member the following
points:
-
The
amount of a test transaction should never exceed $0.10.
-
The
transaction should be voided (as opposed to credited) immediately
after it is completed (or at the very latest, before the merchant
batches out).
-
The
merchant should be advised that this is the only condition/time
in which they are permitted to use their own credit card in
their terminal.
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Trade
Reference
A trade reference is a business that extends credit or otherwise
has a business relationship with the applicant. Put bluntly, we
need to know that the applicant pays bills on time and does indeed
purchase goods or services from an outside source. A trade reference
is re-quested of all applicants.
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Tranz
See "VeriFone."
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Travel
and Entertainment (T&E)
Properly used, this phrase refers to American Express (Amex) and
Diners Club cards where a cardholder normally pays off the card
each month. This is to differentiate these programs from pure credit
cards. Discover is commonly lumped-in with the other T&E card
types, al-though it is not technically a T&E card type.¾
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VeriFone
This company manufactures conventional processing terminals. Model
names include: Tranz 380, Tranz 330, Tranz 460, the P250 Printer
and the PinPad 1000.
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- ABA through Corporate
Resolution
- Credit Report through
Internet Merchant
- Issuing Bank through
SIC Codes
- Swipe through Verifone
Return to Merchant Account
Tutorial Articles Index
