FAQs

General
What do I need to start processing payment card transactions?
What is a Merchant Processing Agreement?
What is Swypit's role in processing transactions?
Can internationally based merchants open a US merchant account?
Can I moniter transaction activity online?
What is Visa?
What is MasterCard?
What is an ISO?
What is an MSP?
What is an issuing bank?
What is an acquiring bank?
What is a merchant bank?
What is a payment processing company?
What is interchange?
What is authorization?
What is voice authorization?
What is a floor limit?
What is a voided transaction?
What is a referral?
What is clearing?
What is capture?
What is settlement?
What is a force transaction?
What is a declined transaction?
What is a chargeback?
What is representation?
What is a reversal?
What is a retrieval request?
What is a bank card?
What is a Credit Card Network?
What is BIN?
What is a factoring?
What is a reserve?
Which merchants are considered high-risk?
Payment Cards
What types of credit cards can I accept?
What is a debit card?
What is a private label card?
What is a stored-value card?
What is a smart card?
Payment Processing
What is a transaction?
How does the transaction process work?
What is a shopping cart?
What is a gateway?
What is a batch?
What are interchange fees?
What is a non-bankcard fee?
What is a discount rate?
What is a transaction fee?
What is a qualified rate?
What is a mid-qualified rate?
What is a non-qualified rate?
What is a monthly processing minimum?
What are Dues and Assessments?
What is Electronic Benefits Transfer (EBT)?
What is Electronic Check Processing (ECP)?
Payment Processing Security
What is PCI?
What is CISP?
What is MasterCard SecureCode?
What is Verified by Visa?
What is transaction scoring?
What is SSL?
What is AVS?
What is CVC2?
What is CVV2?
What is CID?
Can I store CVV2, CVC2 or CID numbers?