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Message Authentication Code (MAC)
Message Authentication Code (MAC): The result of passing a digital message or a set of data content through an algorithm...
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Merged Member
Merged Member: A Depository Financial Institution that becomes a Member as a result of (i) its consolidation or merger with...
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Merchant Store and Forward Transactions
Merchant Store and Forward Transactions: STAR Transactions that cannot be authorized by or on behalf of the Issuer Member due...
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Merchant Station Plate
Merchant Station Plate: A metal embossed plate to be attached to the imprinter machine and used for imprinting sales slips...
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Merchant Settlement Amount
Merchant Settlement Amount: The net dollar amount for each business day of card transactions processed, less chargebacks debited to the...
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Merchant Service Charge
Merchant Service Charge: The discount rate or other fees assessed by the acquirer....
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Merchant Sales Agreement
Merchant Sales Agreement: The written contractual agreement between a merchant, Merchant Processors, and Merchant Processors’s clearing/funding member bank. This agreement...
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Merchant Outlet
Merchant Outlet: The physical premises of the merchant at which a transaction is consummated....
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Merchant Number
Merchant Number: A number that numerically identifies each merchant to the merchant processor for accounting and billing purposes....
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Merchant Fraud
Merchant Fraud: The act of submitting sales drafts which are not the result of legitimate sales for the purpose of...
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