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Credit Note
It is the document that is created and signed by the member merchant when a good or service that has been purchased with credit card is refunded, or when a transaction is voided.
Debit Card
Debit card is associated directly with the saving account of the card owner. It is the card issued to the customers of the bank in order for them to draw money from Automatic Teller Machines (ATM), to purchase goods and services via Point of Sale (POS) terminals as well as to receive other banking services, by accessing to this account upon entering a password.
Imprinter
It is the mechanical device that the merchant uses when accepting the credit card, and which transfers the embossed information on the face of the card to the sale document.
Issuer
They are the banks and the corporations that issue cards in accordance with the license they hold.
Card Owner
It is the person who is issued a card by the bank or by the corporation that is authorized to issue cards, under the contract they make.
Card System Corporation
They are the corporations that establish the credit card or bank card system, and delegate the authority to make member merchant agreements for issuing or accepting cards.
Credit Card
It is a means of payment that the banks and the authorized issuers give to their customers for them to purchase goods and services without using cash, and to draw cash credit, within the limits of the credits that are opened to them.
Cash Payment Document
They are the documents that are created for cash payments to the card owner, and which are signed him.
Automatic Teller Machines (ATM)
They are the electronic devices that facilitate card owners’ access to their saving and credit card accounts by using their debit and credit cards upon entering their passwords, and their use of the offered banking services.
POS Device
It is the electronic device that the merchant uses when accepting the debit / credit card. This device does electronically read the information that is on the chip or the electronic stripe, and conclude the transaction by electronically receiving authorization.
Authorization
It is the transaction that is made via telephone and / or electronically in order to establish if the card limit is available, or if the card had been reported as lost or stolen. The merchant will, for imprinted transactions, telephone the credit cards authorization service of the bank and request for authorization by giving the card number. Authorization will be received on-line upon having the cards swiped on the POS or inserted in the ATM.
Sales Document
It is the document that is created by the member merchant in the transactions done with the card, and which shows card owner’s debt incurred as the result of the transaction, and that is signed by him.
Password (PIN)
They are the numerical values which enable owner of the debit and credit card to have access to his account. They are private. It verifies if the card is being used by the legitimate owner or not.
Member Merchant
It is the natural or legal person that had accepted to sell goods and services to the debit card or credit card owner under the contract he had made.
Acquirer
They are the banks and other corporation that makes agreements with the merchantes to have the card accepted thereby.