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112
Glossary
APPENDIX G
approval
An acceptance of payment—a code is issued by a card-issuing bank allowing a sale to
be charged against a cardholder’s account. The amount is within the cardholder’s
remaining credit limit and that the card has not been reported lost or stolen. Approvals
are requested via an authorization.
American Express
An organization that issues cards and acquires transactions (unlike Visa and
MasterCard, which are bank associations).
arbitration
The procedure used to determine the responsibility for a chargeback-related dispute
between two members. See also chargeback.
asynchronous
A method of transmitting data in which the data elements are identified with special
start and stop characters. An asynchronous modem cannot communicate with a
synchronous modem. Contrast synchronous.
auth file
See transaction file.
Authonly
See Terminal Capture.
Automated Clearing House
See ACH.
authorization
A process by which a financial institution approves a cardholder transaction and
provides an authorization code to the CyberCash CashRegister. The code is used as
proof of authorization. See also authorization code.
authorization code
An alphanumeric value returned from the processor for successful transactions. If a
transaction fails authorization, an authorization code is not returned from the
processor.
average ticket
The average dollar amount of merchant credit transactions.