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Glossary

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Capture- In a terminal based application, this usually refers to settlement. In a host based application, transactions are usually captured when authorized, but may still require settlement.

Chargeback- The refusal to honor the presentation of a settled transaction due to the belief that one of the association rules has been violated.

Close Batch- The process by which transactions with authorization codes are sent to the processor for payment to the merchant.

Collection- A good faith reciprocal method of resolving chargeback disputes that are not governed by association rules.

Compliance- Disputes that revolve around simply not complying with the rules by either a merchant or an issuer.

CPS- Card not present most favorable Visa interchange when all conditions are met.

CVV2- (Card Verification Value 2) The three extra digits on the back of the physical credit card.