Dictionary of Payment Terminology

The Dictionary of Payment terminology is a tool that is designed to be used to look up the definitions of commonly used terms and acronyms in the Electronic Payments Industry.

Index


Payment Industry Term
Acronym
Decline Response
An Authorization Response where the Transaction was declined.
Digital Certificate
A digitally signed credential used to authenticate the owner of the credential or to ensure the integrity and confidentiality of the message it is signing.
Direct Exchange
DEX
DEX is Visa's network access solution that connects VisaNet issuers, acquirers and merchants through industry-standard, IP-based communications. This allows any entity connected to securely transfer proprietary, payment-related data to any other DEX endpoint. For example, a merchant can send its end-of-day clearing files to its acquirer or an issuer can send its rewards data to its clearinghouse. EAS is the alternative to DEX in connecting to VisaNet
Domestic Transaction
A Transaction where the Issuer of the Card used is located in the Transaction Country.
Dynamic Data Authentication
A cryptographic value generated by a Chip on a Card in an offline environment that uses Transaction-specific data elements and is verified by a Chip-Reading Device to protect against skimming.
Electronic Commerce Merchant
A Merchant that conducts the sale of goods or services electronically over the internet and other networks.
Electronic Imprint
The reading and printing or capture of Card information at a Magnetic- Stripe Terminal or a Chip-Reading Device.
Electronic Member Implementation Questionnaire
EMIQ
Electronic version of the CIQ used primarily in Latin America
EMV Integrated Circuit Card Specifications for Payment Systems (EMV)
Technical specifications developed (jointly by Europay International, MasterCard International, and Visa International) to provide standards for processing debit and credit Transactions and ensure global interoperability for the use of Chip technology in the payment industry.
EMV-Compliant
A term used to describe a Card or terminal application that complies with the requirements specified in the EMV Integrated Circuit Card  Specifications for Payment Systems (EMV).
Endpoint
EP
An “Endpoint” is any entity’s (e.g., issuer, acquirer, third party processor, Merchant, etc.) direct connection to VisaNet by way of Direct Exchange (DEX) or Extended Access (EA) network.
Extended Access Server
EAS
The EA Server is proprietary technology provided by Visa. It is located at participating Endpoint sites to perform authorization routing, file staging and transfer services, and provides secure connectivity to VisaNet while minimizing the impact on the Endpoint of Visa system and network changes
Extended Access Server - Internet
EAS-I
EAS-I leverages a client’s existing internet connection to provide a flexible and secure access method to VisaNet directly over the public Internet. EAS_I can be deployed much faster than dedicated lines and is leveraged in the new process to shorten the timeline.
Financial Institution
FI
A Financial Institution is: Organized under local commercial banking laws, and authorized to accept demand deposits, or Controls or is controlled by commercial banks (ownership defined at 50% or higher), or Is a branch of a foreign bank which is a Visa client in another region
Funds Transfer Settlement Reporting Entity
FTSRE