Payment Acronyms 101
ACH - Automated Clearing House
AML - Anti-Money Laundering
ARN – Acquirer Reference Number
AVS - Address Verification Service
AT - Average Ticket
BIN - Bank Identification Number
BPS (bips) - Basis Points
CB - Chargeback
CNP - Card Not Present
CP - Card Present
CVV - Card Verification Value
DBA - Doing Business As
EBT - Electronic Benefit Transfer
EMV - Europay, Mastercard, and Visa
ETF - Early Termination Fee
FNS Number - Food and Nutrition Services Number
HR - High Risk (restricted)
HT - High Ticket
IC - Interchange
IC+ - Interchange Plus Pricing
ISO - Independent Sales Organization
ISV - Independent Software Vendor
KYC - Know Your Customer
LR - Low Risk (unrestricted)
MCC - Merchant Category Code
MID - Merchant Identification Number
MSP - Merchant Service Provider
MPA - Merchant Processing Agreement
NFC - Near Field Communication (tap to pay)
OFAC - Office of Foreign Assets Control
PCI - Payment Card Industry
POS - Point of Sale
PSP - Payment Service Provider
RDR - Rapid Dispute Resolution
RM - Relationship Manager
RTP - Real Time Payments
Schedule C - Pricing Form from the MPA
TID - Terminal Identification Number
TPPP - Third Party Payment Processor
TSYS - Total System Services (backend payment processor for Payarc)
VAR - Value Added Reseller
VAMP - Visa Acquirer Monitoring Program
WISO - Wholesale Independent Sales Organization
ZCP - Zero Cost Processing
Payment Terminology 101
Agent - An independent party that refers merchants to Payarc.
Agent Active - Deal/lead status in HubSpot for approved agents consistently referring merchants.
Automated Clearing House (ACH) - Electronic transaction between banks via ACH network.
Point of Sale (POS) - Device used to process transactions by retail customers.
Risk Level - Determined by UW/Risk department based on industry, processing history, and financial standing.
Independent Sales Organization (ISO) - Sponsored by an acquiring bank and acts as intermediary.
Merchant - Customer selling goods/services in exchange for payment.