Glossary of Credit Card Terms

(1) | 1 (1) | 3 (1) | 5 (1) | A (42) | B (28) | C (92) | D (44) | E (19) | F (33) | G (7) | H (3) | I (14) | J (7) | K (3) | L (10) | M (27) | N (12) | O (10) | P (43) | Q (2) | R (34) | S (43) | T (26) | U (9) | V (10) | W (2) | X (1) | Y (1) | Z (7)
Magnetic stripe A stripe of magnetic information that is attached to the back of a plastic credit or debit card. It can be black, brown or silver in color. It is usually called a "magnetic swipe" card, because the...
Magnetic stripe card It is a plastic card that uses a magnetic stripe to store data which is activated by a magnetic stripe reader at the payment terminal. Also commonly called a mag stripe card.
Mail or Telephone Order Merchandise Rule The FTC rule, also known as the 30-day rule, requires retailers who ship products to customers to do so within a predetermined period of time, if the retailer cannot ship the goods within 30 days (or...
Mail/phone order merchant A mail/phone order merchant is one that accepts transactions by mail or phone. These transactions are charged higher fees, by transaction processors, because they are considered unsecured as the...
Mail/phone order transaction A mail or phone order transaction is one in which a cardholder makes purchases by telephone or mail, and where neither the card nor the cardholder is present Card processing companies such as Visa...
Man-in-the-middle fraud A "man-in-the-middle" attack is a type of fraud that targets mobile payment systems. In man-in-the-middle attacks, scammers intercept financial information that is being wirelessly transferred. If...
Mandatory binding arbitration Mandatory binding arbitration is a contract clause generally used by credit card issuers. It protects issuers from law suits from cardholder's, and disputes have to be settled before an arbitrator.
Margin The number of percentage points added to the prime rate (or other index) to determine the variable interest rate. Issuers are obligated to disclose the margin for variable rate accounts at account-...
MasterCard MasterCard is a global bank card payment transaction processor, their brands and products include Maestro, Cirrus and MasterCard PayPass. They partner up with credit cards issuers and merchants who...
MasterCard acquirer A MasterCard acquirer is a company that makes MasterCard merchant agreements or cash disbursement to a MasterCard cardholder, and directly or indirectly makes interchange entries of the resulting...

Pages