Plain-English definitions of the terms you'll meet when you apply for a merchant account, especially in a high-risk industry.
The business name customers see on their card statement next to your charge.
Read definition →When a cardholder disputes a payment with their bank and the money is pulled back from the merchant.
Read definition →Chargebacks divided by transactions in a period, a number card networks watch closely.
Read definition →When a cardholder disputes a purchase they really made or authorized.
Read definition →A processing account for businesses banks see as more likely to have chargebacks, fraud or regulatory issues.
Read definition →The fee paid to the cardholder's bank on every card sale, usually the biggest part of processing costs.
Read definition →A company registered through a sponsor bank to sell and support merchant accounts.
Read definition →Mastercard's database of merchants whose processing was terminated for certain reasons.
Read definition →The four-digit code that classifies what your business sells.
Read definition →The technology that sends card details from your checkout to the processor and back.
Read definition →The review a processor does before approving a merchant account and setting its terms.
Read definition →A payments specialist reviews every application, including businesses in high-risk industries.
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