2. An owner or “holder” of a credit or debit card or the person who is using a credit card to pay for goods or services CARDHOLDER

3. The institution that provides credit or a card to a customer Examples: American Express, MasterCard, Visa ISSUING BANK

4. The “go-between” account that acts as an intermediary between your business bank account and your customers’ credit accounts. MERCHANT ACCOUNT

5. Returns from a merchant account or funds that are “charged back” to a purchaser. Chargebacks are usually associated with fraudulent or unauthorized transactions CHARGEBACKS

6. The penalties or fees associated with processing a chargeback. Fees are usually calculated per-occurrence or according to the merchant account’s policies CHARGEBACK FEES

7. Processing a credit card transaction using a magnetic terminal. (When you use your credit card to pay for things in person) MAGNETIC TRANSACTIONS

8. Software needed to process cards online. Processes your information similar to that if you had swiped your card and sends the copy to the merchant account PROCESSING TRANSACTIONS

9. The total dollar amount transferred after a series of sales has been processed, usually at the end of the business day NET SETTLEMENT

10. A fee assessed when a transaction fails, typically because account information cannot be verified PASS-THROUGH FEE