Payment Glossary

Authorizations (Card Processing)

All transactions must be authorized via terminal, cash register, voice authorization, or automated voice response phone system (IVR).

Related Terms

  • Acquirer

    An acquirer is a bank that processes credit and debit card transactions for a merchant.

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  • Tokenization

    Tokenization replaces sensitive financial account information with a random string of characters, called a token. Learn More

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