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Call our dedicated card processing customer support team 24/7

Phone: 0344 880 6121
Email: service@telecom-service.co.uk

Monday to Friday
08:30 to 18:00

Card machine customer support

You’ll find our UK-based support team there to help you whenever you need it. All terminals provided by XLN Card Processing come with a comprehensive support package, including

  • A dedicated and specialist card processing team.
  • Replacement terminals can be provided to you very quickly when the problem cannot be rectified.
  • With helping over 250,000 business customers we understand how important it is to be up and running.

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Glossary

Balance

The amount of money owed by the Cardholder to the card issuing bank.

Bank Identification Number (BIN)

The first six digits of a Visa or MasterCard account number, which identifies the bank that issued the card.

Basis Point

Divide a penny into 100 pieces and 1 basis point would equal to 1 piece of those 100 pieces.

Batch

A group of card transactions as captured by a merchant. A batch is usually an entire day’s activity.

Billing Date

The month, day and year a monthly statement is produced. The current finance charges, minimum payment due and new balance are calculated as of the billing date.

Billing Statement

A billing statement is a document sent to customers informing them of the amounts they owe and the amount now due, information on account status and promotional messages.

Business Card

A bankcard issued to companies for use by company employees. The liability for abuse of the card typically rests with the company, not with the employee.

Calendar Day

The actual calendar day of the month including Saturdays, Sundays and holidays.

Card Activation

A security process developed to prevent losses from fraudulent use of new and reissued payment cards stolen from the mail. The card cannot be used until the cardholder calls a toll-free number and verifies his or her identity.

Card Number

A unique card account number assigned to a cardholder by their issuing bank.

Card Registration Company

A company that provides an optional service to cardholders, usually for an annual fee. The cardholder registers his/her credit card account numbers with the company. If cards are lost or stolen, the cardholder makes only one call to the card registration company which then notifies the issuers of all the lost/stolen cards.

Card Verification Code

A unique value calculated from the data encoded on the magnetic stripe of a MasterCard card, for the purpose of validating card information during the authorisation process.

Cardholder

Merchant’s customer who holds a credit or debit card. The person to whom a financial transaction card is issued or an additional person authorised to use the card.

Cash Advance

A transaction in which only a bank or financial institution can submit, for cash to a cardholder. The transaction is posted against the cardholder’s card account. Interest fees for cash advances are charged from the day of the transaction.

Cash Back Amount

The amount cash returned to the cardholder above the purchase price.

Charge Cards

A card that must be paid in full each month.

Chargeback

A dispute procedure initiated by the issuer after receipt of the initial presentation from the acquirer.

Chargeback Period

The number of calendar days counted from the transaction processing date) during which the issuer has the right to charge the transaction back to the acquirer. The number of days varies according to the type of transaction from 45 to 180 days.

Chargeback Reason Code

A numerical code that identifies the specific reason for the chargeback. MasterCard and Visa each have their own chargeback codes.

Chargeback Reference Number

A unique number assigned by an Issuer in accordance with specifications in the appropriate VisaNet user's manual to identify the source of an outgoing Chargeback.

Chip & Pin Card

A card (debit or credit) that carries an embedded computer chip with memory and interactive capabilities so that it can be updated. Also called an integrated circuit card or a chip card.

CIRRUS®

CIRRUS® Systems, Incorporated, a wholly-owned subsidiary of MasterCard International Incorporated, operates the international ATM sharing network known as MasterCard®® CIRRUS® ATM Network.

Clearing

The process of exchanging financial transaction details between an acquirer and an issuer to facilitate posting of a cardholder’s account and a reconciliation of a customer’s settlement position. Terminology used to indicate the settlement of transaction through Interchange

Clearing Member Bank

A bank which Visa and Mastercard empower to receive and distribute funds received through settlement and Interchange. Examples: Regions Bank and First Union National Bank.

Co-Branded Cards

A customized card product for a specific retailer or service provider, such as General Motors, that wishes to solicit its customers.

Commercial Card

A term used to signify corporate, business AND government bankcard.

Credit

The process of reimbursing a cardholder's account for returned merchandise.

Credit Amount

The aggregated amount of credits by card types for the specified category within a batch.

Credit Balance

On a revolving line of credit, the amount currently owed by the cardholder.

Credit / Bank Card

A plastic card that is used in place of cash or a check, offered to people to buy goods and services on the promise that the money will be paid back later. Money not paid back each month is considered a short term loan and interest is charged.

Credit Card(s)

A plastic card with a revolving credit limit used to purchase goods and services and to obtain cash advances on credit for which a cardholder is subsequently billed by the issuer for repayment of the credit extended.

Credit Limit

The maximum amount available on the account, set by the issuing financial institution. The maximum amount the cardholder may owe to the issuer on the card account at any time.

Currency Conversion

The service provided by the associations that converts the transaction currency to the billing currency.

Debit

A charge to a customer’s bankcard account.

Debit Card

A plastic card, issued by a financial institution that charges the customer's personal account.

Deposit Account

An account used by a customer to make deposits and withdrawals at a financial institution.

Dial-Up Terminal

A Payment authorisation terminal which dials the authorisation centre for validation of transactions.

Disputes

A transaction "in dispute" is a charge that has been posted to a cardholder's account now being questioned for validity. Disputes are governed by association operating regulations which provide instructions for action and timelines by type of dispute.

Encryption

The method used to scramble financial information for security purposes. For example, all Personal Identification Numbers (PIN’s) are encrypted when transmitted for authorization.

Entity

An alternative method of grouping merchants or chains.

Financial Institution

Any organisation in the business of moving, investing or lending money, dealing in financial instruments or providing financial services. Includes commercial banks, savings banks, savings and loan associations and credit unions. Refers to any bank, credit unions or other entity that distribute cash.

Floor Limit

An amount set by the acquirer in accordance with MasterCard and Visa rules and regulations. The merchant must obtain authorisation for any transaction over the floor limit.

Gold Card

A card program offering higher credit lines and expanded services. Qualifications for cardholder applicants are generally more stringent than for the standard card.

Good Faith

An attempt by a member to resolve a dispute with another member in writing. A good faith attempt at resolution must be made before filing a compliance case.

Grace Period

The span of time between the statement date and the payment due date during which no interest is charged if the amount is paid in full.

Hard Copy

Data in paper form

Interchange

The exchange of transactions between clearing members for Visa and MasterCard transactions, according to the associations operating rules and regulations. During this process transactions are routed to the appropriate card issuing bank.

Interchange Fees

Fees paid by the merchant Bank (acquirer) to the MasterCard and Visa for processing transactions. These fees are paid at the time the transaction is exchanged. Fees vary based on processing method utilised by the merchant.

Interest

A fee charged by the card Issuing Bank when the Cardholder does not pay off his/her entire balance with each statement. Interest is to offset the cost of carrying the balance.

ISO

Independent Sales Organisation, also called a member service provider. An outside company (not MasterCard or Visa member) that is contracted by members to administer merchant and/or cardholder servicing.

Issuer

The financial institution (a licensed member of MasterCard or Visa) that holds contractual agreements with and issues cards to cardholders.

Issuing Bank

The bank or other company that issues a credit or debit card to a Cardholder.

IVR

"Interactive Voice Response" unit - the system that drives self-service interaction on the phone. (Previously known as ARU and/or VRU.)

JCB

Japanese Credit Bureau-- A card type.

LAN

Local Area Network

Late Settlement Fee

Fee paid to MasterCard or Visa by the member for late processing of settlement.

Lost/Stolen Card Reporting Service

An issuer-provided service where the cardholder registers card account numbers with the issuer who will notify the individual issuers if cards are lost or stolen. This type of service is often offered through a card registration company.

Maestro®

The Maestro® program is a global, on-line point-of-sale debit program. Transaction amounts are immediately debited from the cardholder’s account.

Magnetic Stripe

Stripe on a payment card. When the card is swiped through the terminal "slot", the terminal automatically transmits account and transaction information to the authorising bank.

MasterCard International Incorporated

A member-owned international bankcard association, governed by a board of directors, that licenses members to issue cards and/or accept merchant drafts under the MasterCard Program. MasterCard owns and operates its own international processing network.

MCC - Merchant Category Code

Terminology used by MasterCard and Visa. Typically it is a four digit code that identifies the merchant 's principal trade, profession, or line of business in accordance with their standard industry classification (SIC).

Member

A financial institution that is a member of Visa USA and/or MasterCard International. A member is licensed to issue cards to cardholders and/or accept merchant drafts.

Merchant

Any business that, having met the qualification standards of MasterCard and/or Visa and having been approved by any acquiring member, accepts MasterCard and/or Visa cards as payment for goods and services.

Merchant Agreement

The written contract between merchant and acquirer that details their respective rights, responsibilities and warranties.

Merchant Bank

The bank that has entered into an agreement with a merchant, to accept deposits generated by bankcard transactions.

Merchant Chargeback

A transaction that is challenged by a cardholder bank against a merchant bank and comes to the merchant bank through interchange. Also referred to as an incoming chargeback.

Merchant File

A file used by the acquirer to list pertinent information on its merchants.

Merchant Qualification Standards

The minimum standards established by MasterCard and Visa for merchant acceptance, requiring that the merchant be financially responsible and of good repute.

MID

Merchant Identification Number. Number assigned by the acquirer to identify a merchant.

MO/TO

Mail Order/ Telephone Order.

MTD

Month to Date accumulation from the first day of the current statement period to the present date.

Non Face-To-Face Transaction or CNP

Any transaction where the card is not present, such as a mail order purchase.

Non Qualified Rate

A rate. Indicates the transaction did not meet any of the qualifications for the lower rates. This rate includes business cards.

Off-line

An operating mode in which terminals are not connected to a central computer. Responses are governed by guidelines, set by the issuer, which are housed in the terminal or in a supporting device.

Off Line Sale

Function performed at a POS device that allows the merchant to enter a transaction if unable to process under the regular sale key. Also referred to as an Force and Post Auth.

On-line

An operating mode in which terminals are connected to a central computer and have access to the data base for authorisation, questions and file changes.

PAN

Primary Account Number. The embossed or encoded number that identifies the card issuer to which a transaction is to be routed and the account to which it is to be charged unless specific instructions indicate otherwise.

Paper

Sales slips, credit slips, cash advance slips, etc., showing the use of a credit card for a purchase, displaying the imprint or other reproduction of embossed or encoded information contained on the card.

Paper Processing

The process of submitting actual sales drafts to receive funds

PIN

Personal Identification Number. The confidential individual number or code used by a cardholder to authenticate card ownership for ATM or POS terminal transactions.

PIN Authorisation Request

A procedure enabling the issuer to validate cardholder identity by comparing the PIN to the account number.

POS

Point-of-sale. Refers to the location where goods or services are purchased.

POS Terminal

Point-of-sale. Refers to the location where goods or services are purchased.

POS Terminal

A terminal, at the point of sale, which is connected via telecommunication lines to a central computer. Authorisation, recording and transmitting of transactions are performed through the terminal.

Principal Member

A financial institution that directly participates as an issuing and/or acquiring member of MasterCard International.

Processing

The procedure by which the merchant sends the information about each credit card transaction to the issuing Bank so that the Issuing Bank can pay the merchant for the transactions.

Processing Date

The earliest date stamped on the transmittal summary and draft by the member or its processor.

Card Processing Terminal

The terminal at the point of sale through which the credit or debit card is inserted, swiped or keyed by the merchant.

Processor

An organisation which can provide authorisation and settlement services on behalf of a member.

Qualified Rate

A rate. Indicates the transaction meets all requirements to qualify for the best rate.

Recurring Transaction

A transaction charged to the cardholder (with prior permission) on a periodic basis for recurring goods and services, i.e., health club membership, book-of-the-month clubs, etc.

Settlement

The process by which merchant and card-issuing banks exchange financial data and funds resulting from sales transactions, cash advances, merchandise credits etc. It can indicate that transactions were settled from the terminal. It also can refer to the clearing of transactions through Interchange.

Submission Date

The batch reporting date.

Swipe

The action of sliding a credit card through the cardreader portion of an authoriszation terminal.

Terminal Identification (TID) Number

The unique number assigned to each point of sale terminal that tells the Elavon Host which merchant a transaction came from and where an authorization is to be sent.

Terminal Provider

A terminal provider supplies the software on which a terminal operates.

Transaction

Any action between a cardholder and a merchant or member that results in activity on the account, such as a purchase, cash advance, debit or credit adjustment, etc.

Transaction currency

The currency in which a transaction was originally conducted; usually the merchant's local currency.

Transaction Date

The actual date that a transaction occurs. Used in recording and tracking transactions.

Valid Date

The date, embossed on the card, prior to which the card may not be used.

Visa

Originally BankAmericard, Visa is one of the two major companies that licenses its members to issue Visa cards under the Visa program and bearing the Visa design, and to accept Visa sales drafts. Visa owns and operates an international processing system and provides a number of various services to its members, cardholders and merchants.

Visa International

Visa International service association - corporation known as 'Visa International' formed to administer, promote, and further develop Visa programmes throughout the world

Zero Floor Limit

Requires that all cardholder transactions be authorized.