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Glossary

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Magnetic Stripe- A stripe on the back of a bankcard that contains magnetically encoded card holder account information.

Manual Entry- Credit card information that is entered via terminal keypad or keyboard instead of swiping the card through a card reader.

MCC- (Merchant Commercial Code) A code assigned by an acquirer to a merchant to identify the merchants principle trade, profession, or line of business. This four digit code is also known as the SIC code.

MOTO- (Mail Order/Telephone Order) Defined as a merchant who keys in more than fifty percent of their transactions, without getting manual imprints.

MID- Merchant Identification Number.

Mid Qualified- This reflects the amount of activity that was hand keyed into the terminal, or voice authorization, or not processed by closing the terminal within 24hrs. (retail).