Merchant Services Glossary - Letter T
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- T&E
- Travel and Entertainment.
- T&E card
- Travel and Entertainment card issued by a private, non-bank company which deals directly with the cardholder and merchant and generally requires payment in full monthly. Example of T&E cards are American Express, Diner’s Club, etc.
- T&E Merchant
- Travel & Entertainment - Refers to any merchant in the Travel and Entertainment industry, such as restaurants, hotels, car rentals, etc.
- Telemarketing
- Selling goods or services over the phone for payment by credit card.
- Terminal Based
- Software protocol. The sales are stored in the terminal.
- Terminal Identification (TID) Number
- The unique number assigned to each point of sale terminal that tells the Host which merchant a transaction came from and where an authorization is to be sent.
- Terminal Provider
- A terminal provider supplies the software on which a terminal operates.
- Terminated Merchant File
- A file listing of merchants names and their principals whose bankcard relationship has been terminated for some reason by an acquirer. Operated jointly by MasterCard and Visa.
- Third Party Processor
- A non-member agent contracted by a member to provide authorization, processing and merchant services.
- TIIF I
- A name of a rate qualification prior to April 96. This rate was eliminated and replaced with either Key Entered or EIRF.
- TIIF II
- A name of a rate qualification prior to April 96. This rate was eliminated and replaced with either Key Entered or EIRF.
- Track 1
- The ability of a terminal to read the track 1 stripe off the back of a credit card. Track 1 read numeric and alpha characters. This track is found on some Tranz 330’s all Tranz 380’s, 420’s and 460’s.
- Track 2
- The ability of a terminal to read the track 1 stripe off the back of a credit card. Track 2 reads numeric characters only. This track is also needed to process debit cards. This track is found on all XL’s 380’s, 420’s, and 460’s.
- Transaction
- Any action between a cardholder and a merchant or member that results in activity on the account, such as a purchase, cash advance, debit or credit adjustment, etc.
- Transaction Date
- The actual date that a transaction occurs. Used in recording and tracking transactions.
- Transmittal Slip
- Documentation that should be filled out by any bank that accepts paper sales drafts from merchants. Show total sales, total credits and net amount that is owed to the bank for all the bank’s merchants.
- Transmittal Summary Chargeback Draft (ICA-2)
- The form used by a member to collect from another member at any step in the chargeback process, i.e., chargeback, second presentment, second chargeback, etc.
- Transmittal Summary Clearing Draft (ICA-1)
- The form used by the acquirer in settlement with the issuer.
- Travelers' Cheque
- A cash equivalent issued by MasterCard and Visa at member teller windows. The cheque can be used as cash at participating merchants and can be replaced if stolen. A nominal fee is charged to the customer for purchase of the traveler's cheque.
- TSYS
- Abbreviation for Total Systems
- Twenty-Four Business Hours
- A period of time defined as twenty-four (24) hours during which the member is open for business, not necessarily the same as one calendar day.
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