Indeed, most fields have their supply of esoteric acronyms; the world of payment is no exception. The terms below, compiled by Global Web, will certainly help you navigate through the payment processing lexicon. Make sure to do a bit more research on terminology, especially if you're committing to legal contracts which contains such terms.
- ISO: Independent Sales Office
- ISA: Independent Sales Agent
- PIN: Personal Identification Number
- VAR: Value Added Reseller/Value Added Resource
- IP: Internet Protocol
- ETF: Early Termination Fee
- MLS: Merchant Level Salesperson
- EMV: Enhanced Member Card
- CAP: Chip and PIN
- ABR: Agent Bank Referral
- DSL: Digital Subscriber Line/Loop
- MSP: Merchant Services Provider
- POS: Point of Sale
- NFC: Near Field Communication
Now that you have taken a look at the common acronyms found in the world of payment processing, you're ready for a quiz! Well, perhaps that is not quite necessary at this point, but it is indeed important that you familiarize yourself with the terms above. The fact is, as you are likely to make transactions, and in particular online transactions in the near future, it pays to understand the terminology. Global Web, in presenting readers with the acronyms above, helps inform consumers about the payment process.
About Global Web
Global Web specializes in online payment and content management; through its meticulous work and dedication, the company ensures that both client and merchant enjoy a smooth online transaction process. In particular, Global Web consults clients on online payment processing, subscription processing, and content management. Global Web may be contacted at (877) 855-1753 or via Facebook, Google+ or Blogger.
No comments:
Post a Comment