Visa Glossary

Preauthorization Payment Cancellation Service

A service that enables Visa Card Issuers to stop payment on preauthorized Transactions.

Adjustment

A Single Message System message used to partially or fully negate or cancel a transaction that has been sent through Interchange in error.

Visa Purchasing Card

A Visa Card issued to commercial entities (public and private) that is used for commercial purchases.

Visa Meetings Card

A Visa Card issued to commercial entities in the public and private sector for commercial purchases associated with business meetings and events.

Authentication Method

A Visa-approved protocol, such as Verified by Visa, that meets the minimum standards for authenticating a Cardholder in an Electronic Commerce Transaction.

Adress Verification Service (AVS)

A VisaNet service through which a Merchant verifies a Chardholder's billing address.

BASE II

A VisaNet system that provides deferred Clearing and Settlement services to Members.

Sample Card Design

A background design provided by Visa that is unique for each Card product and that an Issuer may use on the front of a Visa Card.

Visa Settlement Bank

A bank where Visa maintains its Settlement accounts and performs funds transfer for Settlement.

Online Card Authentication Cryptogram

A cryptogram generated by a Chip Card during a Transaction and used to validate the authenticity of the CArd.

Cheque

A traveler's cheque that a Member has issued and that bears the Visa-Owned Marks.

Visa Large Purchase Advantage

A type of Visa Purchasing Card issued to Client Organizations for the purpose of enabling payment for large-ticket purchases in a Commercial Payables environment.

Electronic Capability

Point-of-Transaction Capability where all of the following are true: - Transaction Authorization is required (or the terminal is capable of reading and the Service Code in the Magnetic Stripe or information provided in the Chip or, in the US Region, QR code.) - Authorization Response is obtained Online, or as instructed by the Issuer. - Authorization Response and Transaction Receipt data are captured electronically.

*POS*

Point of Sale.

Interlink Program Marks

The Interlink Mark, or any other service Marks adopted by Visa for use with the Interlink Program.

Sponsoreship Marks

The Marks of an entity with which Visa has entered into an agreement to act as a sponsor for that entity's activities or events.

Non-Visa-Owned Marks

The Marks used in conjunction with a program sponsored by Visa, but owned by a third party.

Settlement Currency

A currency that Visa uses to settle Interchange.

Card

A valid Visa Card, Visa Electron Card, or Proprietary Card Bearing the Plus Symbol.

Visa Credit Card

that is used to defer payment of debt or incur debt and defer its payment. This may include both consumer Visa Cards and Visa Commercial Cards, but excludes Visa Prepaid Cards and other debit Cards. In the Canada Region: A Visa Card other than Visa Debit Category Card.

*BIN*

*Bank Identification Number.* A 6-digit number assigned by Visa and used to identify a Member, Visa Net Processor, or Visa Scheme Processor for Authorization, Clearing, or Settlement processing.

*CAMS*

*Compromised Account Management System.* The reporting system used by Visa to notify Issuers outside the Europe Region of Account Numbers that may have been compromised.

LAC

*Latin America and Caribbean.*

T&E

*Travel and entertainment*. All of the following Merchants and Merchant segments: 1. Airlines. 2. Cruise Lines. 3. Lodging Merchants. 4. Passenger railways located in the US Region. 5. Travel agencies. 6. Vehicle Rental Merchants.

Compelling Evidence

1Information or documentation provided by a Merchant or an Acquirer in a Dispute Response or pre-Arbitration that attempts to prove that the Cardholder participated in the Transaction, received goods or services or otherwise benefited from the Transaction, as specified in Section 11.5.2, Use of of Compelling Evidence. Compelling Evidence does not mandate that Visa, the Issuer, or any other entity conclude that the Cardholder participated in the Transaction, received goods or services, agreed to Dynamic Currency Conversion, or otherwise benefited from the Transaction.

PIN

A *Personal Identification Numeric* code that identifies a Cardholder in an Authorization Request.

Mobile Money Consumer Authentication - AP Region, CEMEA Region, and LAC Region.

A 2-part authentication process conducted by a Mobile Money Operator to verify a Visa Mobile Prepaid account holder.

Scrip

A 2-part paper receipt that is redeemable at a Merchant Outlet for goods, services, or cash.

PIN Verification Value

A 4-digit value derived with an algorithm using portions of the Account Number, PIN, and a single digit key indicator that encoded for PIN verification on the Magnetic Stripe or Chip of a Visa Card or Visa Electron Card.

Expired Card

A Card on which the embossed, encoded, or printed expiration date has passed.

Visa Platinum

A Card product that has attributes equal to or exceeding those of a Visa Gold Card.

Visa Electron Card

A Card that bears the Visa Brand Mark with the Electron Identifier.

Proprietary Card

A Card that does not bear the Visa Brand Mark or Visa Brand Mark with the Electron Identifier, but may be either or both: - Plus-enabled. - Interlink-enabled.

Acceptance Device

A Card-reading device managed by a member or a Merchant for the purpose of completing a Visa Transaction.

Eligible Cardholder

A Cardholder who has had their Card lost or stolen while traveling outside of their city of residence and who has reported the loss or theft to the Issuer of the Card.

Emergency Cash Disbursement

A Cash Disbursement by a Member or its agent, including Visa, to an Eligible Cardholder who has reported a Visa Card, Visa TravelMoney Card, or Cheques as damaged, lost or stolen.

Manual Cash Disbursement

A Cash Disbursement obtained with a Visa Card or Visa Electron Card in a Face-to-Face Environment.

EMV PIN Transaction

A Chip-initiated Transaction (excluding ATM Transactions) verified utilizing Online or Offline PIN Verification.

Presentment

A Clearing Record that an Acquirer present to an Issuer through Interchange, either initially (a first Presentment) or after Dispute (a Dispute Response or pre-Arbitration).

Completion Message

A Clearing Record that follows a preauthorization as part of Real-Time Clearing Processing.

Dispute Response

A Clearing record that an Acquirer presents to an Issuer through Interchange after a Dispute.

Known Fare Transaction

A Contactless Transaction at an Unattended Cardholder-Activated Terminal at the Turnstile, fare gate, or point of boarding or a Mass Transit Merchant where the Transaction amount is known before travel.

Mass Transit Transaction

A Contactless Transaction at an Unattended Cardholder-Activated Terminal at the turnstile, fare gate, or point of boarding of a Mass Transit Merchant that uses the data derived from one or more taps of a Contactless Payment Device during a Travel Period to calculate the Transaction amount.

Authentication

A Cryptographic process that validates the identity and integrity of Chip data.

Reversal

A Deferred Clearing or Online Financial Transaction used to negate or cancel a transaction that has been sent through Interchange in error.

Staged Digital Wallet Operator (SDWO)

A Digital Wallet Operator that operates a Staged Digital Wallet.

Optional Issuer Fee

A Fee that an Issuer may charge a Cardholder by the application of a percentage increase to the Currency Conversion Rate, which the Visa Systems use to determine the Transaction Amount in the Billing Currency for each Internationl Transaction.

Guest Folio

A Lodging Merchant's or Cruise Line's guest file.

*BIN* User

A Member authorized to use a *BIN* licensed to its Sponsor, as specified in the Visa Rules.

Sending Member

A Member entering a Transaction into Interchange.

Principal-Type Member

A Member of Visa characterized as one of the following: 1. Principal Member, as defined in the Visa Charter Documents. 2. Acquirer Member, as defined in the applicable visa Charter Documents. 3. Administrator Member, as defined in the Visa U.S.A. Ince. Certificate of Incorporation and By-Laws, Article II, Section 2.04 (c).

Associate-Type Member

A Member of Visa that is an Associate with right and responsibilities, as defined in the applicable Visa Charter Documents.

Sponsored Member

A Member of Visa whose right to participate in Visa is dependent upon another Member, as specified in the applicable Visa Charter Documents.

Authorization Processor

A Member or its VisaNet Processor or Visa Scheme Processor that provides Authorization services for Merchants or other Members.

Global Co-Branding Partner

A Member or non-Member that has a contractual relationship for the issuance of Global Co-Branded Cards in one or more Visa Regions and countries.

Receiving Member

A Member receiving a Transaction through Interchange.

Visa Electron Acquirer

A Member that both: 1. Signs a Visa Electron Merchant or disburses currency to a Cardholder using a Visa Electron Card in a Manual Cash Disbursement. 2. Directly or indirectly enters the resulting Transaction Receipt into Interchange.

VisaNet Processor

A Member, or Visa-approved non-Member, that is directly connected to VisaNet and that provides Authorization, Clearing, or Settlement services to Merchants and/or Members.

High-Brand Risk Merchant

A Merchant assigned an MCC considered by Visa to be high-brand risk, as specified in Section 10.4.6.1, High-Brand Risk MCCs.

Mass Transit Merchant

A Merchant that assigned MCC 4111, 4112, or 4131 and completes a Mass Transit Transaction, Known Fare Transaction, or another method of fare collection using a Visa Card.

Visa Electron Merchant

A Merchant that both: 1.Displays the Visa POS graphic with the Electron Identifier or the Visa Brand Mark with the Electron Identifier. 2. Has a zero Floor Limit or has a terminal capable of reading and acting upon the Service Code in the Magnetic Stripe or instructions for an Online Authorization Request from a Chip.

Electronic Commerce Merchant

A Merchant that conducts the sale of goods or services electronically over the internet and other networks.

Retail Merchant

A Merchant that is NOT one of the following: 1. Mail/phone Order Merchant. 2. Merchant that processes Recurring Transactions for the sale of recurring services. 3. T&E Merchant (except in the Europe Region).

Negative Option Merchant

A Merchant that offers goods and/or services and requires a Cardholder to expressly reject the offer during the Transaction process, or expressly decline to participate in the future Transactions.

Vehicle Rental Merchant

A Merchant that rents cars, vans, trucks, trailers, and other similar vehicles (MCCs 3351-3500, 7512, 7513).

Lodging Merchant

A Merchant that sells overnight accommodations at a fixed location that are purchased for a limited period of time. For the purposes of the Visa Rules, Lodging Merchants are hotels, motels, inns, bed and breakfast establishments, resorts, cabins, cottages, hostels, and apartments, condominiums, and houses rented as a short-term accommodation.

Prepaid Partner

A Merchant, Member, or Third Party Agent that has a contract with an Issuer or Acquirer to sell, activate, and/or perform Load Transaction processing for, Visa Prepaid Cards.

*CMAS* Alert

A Notification sent through *CAMS* to alert Issuers outside the Europe Region of Account Numbers involved in a potential Account Data Compromise Event.

High-Risk Internet Payment Facilitator

A Payment Facilitator that: * Enters into a contract with an Acquirer to provide payment services to High-Risk Merchants, High-Brand Risk Merchants, High-RiskSponsored Merchants, or High-Brand Risk Sponsored Merchants. (* Includes one or more Sponsored Merchants required to be classified with an MCC considered to be high-risk, as specified in Section 10.4.6.1, High-Brand Risk MCCs.)

Visa Infinite Card

A Product Name for a Visa Card that has attributes exceeding those of a Visa Gold Card and Visa Platinum.

High-Brand Risk Sponsored Merchant

A Sponsored Merchant required to be classified with an MCC considered by Visa to be high-risk, as specified in Section 10.4.6.1 High-Brand Risk MCCs, that contracts with a Payment Facilitator to obtain payment services.

Digital Wallet Operator (*DWO*)

A Third Party Agent that operates a Pass-Through Digital Wallet or Staged Digital Wallet.

Instant CardPersonalization Issuance Agent

A Third Party Agent that performs instant Card personalization and issuance for an Issuer.

Credit Transaction Receipt

A Transaction Receipt evidencing a Merchant's refund or price adjustment to be credited to a Cardholder's account.

Retail Transaction

A Transaction at a Retail Merchant outlet.

Electronic Commerce Transaction

A Transaction between a Merchant and Cardholder over the internet or other networks using a terminal, personal computer, or other Cardholder device.

Unattended Transaction

A Transaction conducted at an Unattended Cardholder-Activated Terminal.

Recurring Transaction

A Transaction in a series of Transactions that use a Stored Credential and that are processed at fixed, regular intervals (not to exceed one year between Transactions), representing Cardholder agreement for the Merchant to initiate future Transactions for the purchase of goods or services provided at regular intervals.

Installment Transaction

A Transaction in a series of Transactions that use a Stored Credential and that represent Cardholder agreement for the Merchant to initiate one or more future Transactions over a period of time for a single purchase of goods or services.

Telephone Service Transaction

A Transaction in which a Cardholder uses a Visa Card to purchase a telephone call.

Original Credit Transaction

A Transaction initiated directly by an Acquirer, a Merchant or an agent, or by an Acquirer on behalf of its Merchant or agent, that results in a credit to an Account Number for a purpose other than refunding a purchase.

Deferred Clearing Transaction

A Transaction or process wherein Transaction are authorized, cleared, and settled in 2 separate messages.

High-Brand Risk Transaction

A Transaction performed by a High-Brand Risk Merchant, High-Risk Internet Payment Facilitator, High-Brand Risk Sponsored Merchant or Digital Wallet Operator assigned an MCC considered by Visa to be high-brand risk, as specified in Section 10.4.6.1, High-Brand Risk MCCs.

In-Transit Transaction

A Transaction reflecting the purchase of merchandise, services, or gambling on board ship, boat, bus, aircraft, ferry, or train.

Quasi-Cash Transaction

A Transaction representing a Merchant's or Member's sale of items that area directly convertible to cash, such as: - Gaming chips. - Money orders. - Deposits - Wire Transfers. - Travelers cheques. - Visa Prepaid Cards with cash access. - Foreign currency. - additional Transactions approved by Visa.

No-Show Transaction

A Transaction resulting from a Cardholder's failure to cancel or claim a Guaranteed Reservation.

Fraud Activity

A Transaction that an Issuer reports as fraudulent when either a: 1. Fraudulent user used a Card or its Account Number. 2. Card was obtained through misrepresentation of identification or financial status.

Online Financial Transaction

A Transaction that is authorized, cleared, and settled in a single online message.

Unauthorized Use

A Transaction that meets one of the following criteria: 1. Is not processed on behalf of a Member. 2. Is processed on behalf of a Member by a VisaNet Processor or Vis aScheme Processor not designated for processing activities. 3. Is processed on behalf of a Member but not within the scope of the member's category or categories of membership. 4. Is not within the scope of activities approved by the Member, the Member's Sponsor, or Visa. 5. Is processed using a BIN that has not been designated by the BIN Licensee for the Member's use.

Bill Payment Transaction

A Transaction that results from an agreement between a Cardholder and a Merchant made in advance of the Cardholder being billed for goods or services conducted within an ongoing service cycle. Transactions may occur monthly or on a periodic basis. Such Transactions include: - Single payments initiated by the Cardholder in a Face-to-Face Environment, in a Card-Absent Environment, or at an ATM. - Recurring Transactions. -Installment Transactions.

Unscheduled Credential-on-File Transaction

A Transaction using a Stored Credential for a fixed or variable amount that does not occur on a scheduled or regularly occurring Transaction Date, where the Cardholder has provided consent for the Merchant to initiate one or more future Transactions.

On-Us Transaction

A Transaction where and individual Member, represented by one Visa Business ID (BID), both: 1. Holds an issuing license and has issued the Visa Card used in the Transaction. 2. Holds an acquiring license and acquired the corresponding Merchant volume.

Intraregional Transaction

A Transaction where the Issuer of the Card is located in a country other than the Transaction Country, but in the same Visa Region.

Interregional Transaction

A Transaction where the Issuer of the Card is not Located in the Visa Region where the Transaction takes place.

International Transaction

A Transaction where the Issuer of the Card used is not located in the Transaction Country. IN the US Region, US Territory: This does not apply for US Covered Visa Debit Card Transactions in the US Region or a US Territory for routing and Interchange Reimbursement Fee (IRF) purposes.

Visa Central Travel Account

A Virtual Account or an Account Number that an Issuer assigns to a commercial entity using a Visa Corporate Card BIN or Visa Purchasing Card BIN that is generally used for travel-related purchases.

Secured card - AP REgion

A Visa Card for which the Issuer requires a cash deposit as collateral before issuing the Card.

Non-Standard Card

A Visa Card or Visa Electron Card that does not comply with the plastic specification in the Visa Product Brand Standards, requires Vis approval, and must both: - Provide the designated level of utility promised to the Cardholder. - Contain the physical elements and data components required to complete a Transaction.

Visa Consumer Card

A Visa Card other than a Visa Commercial Card issued to individuals for the purchase of goods and services used for personal consumption.

Visa Signature Business - CEMEA Region

A Visa Card that is issued as specified in Section 4.16 Visa Signature Business

Visa Prepaid Card

A Visa Card used to access funds in a Visa Prepaid Account or a Card where monetary value is stored on a Chip.

Contactless

A Visa Check Card that accesses a consumer's deposit, investment, or other asset account, including a fiduciary account.

Visa Commercial Prepaid Product

A Visa Commercial Card product, issued as a Visa Prepaid Card, in which the corporation depositing the funds remains the owner of the funds in the Visa Prepaid Card account. Visa Commercial Prepaid Products are offered to client organizations solely to provide a means to pay for the acquisition of business-related goods and services.

Visa Contactless Application

A Visa Commercial Card targeted to mid-to-large size companies that is primarily used to pay for employee business travel and entertainment expeses.

Visa Fleet Card

A Visa Commercial Card used for the purchase of fuel and vehicle maintenance services at Merchants classified with one of the following MCCs: 4468, 4582, 5511, 5532, 5533, 5541, 5542, 5599, 7531, 7534, 7535, 7538, 7542, 7549, 7699.

Vehicle-Specific Fleet Card

A Visa Commercial Card with Visa Fleet service enhancement that is assigned to a specific vehicle.

Verified by Visa

A Visa Commercial Card with Visa Fleet service enhancement that is assigned to a specific vehicle.

Dual-Issuer Branded Visa Commercia Card

A Visa Commercial Card, issued by a Member participating in the Visa multinational Program that identifies the Lead Bank on the Card front and the Partner Bank on the Card back, as specified in the Visa Multinational Program Guide.

Visa Business Electron Card

A Visa Electron Card intended for the small business market and used to pay for employee business travel and general business expenses.

Visa Fleet Card Application Identifier - Canada Region and CEMEA Region

A Visa Fleet EMV compliant identifier used for Visa Fleet Cards that specifies a unique payment application contained in a compliant Chip Card.

Emergency Service Location

A Visa Issuer-affiliated Branch pre-registered in the Visa Global Customer Assistance Services Program where an Eligible cardholder may receive an Emergency Card Replacement or an Emergency Cash Disbursement.

Lead Bank

A Visa Multination Program participant that initiates Multi-Country Issuing on behalf of a Multinational Company client.

Partner Bank

A Visa Multinational Program participant that partners with the Lead Bank in a Multi-Country Issuing scenario. The Partner Bank resides in a country that is different from the Lead Bank and issues Visa Commercial Card products on behalf of the Lead Bank.

Authorization Preferred Visa Prepaid Card

A Visa Prepaid Card bearing the Visa Brand Mark or Visa Brand Mark with the Electron Identifier that has a Service Code denoting "online Authorization mandatory" encoded on the Magnetic Stripe.

Visa Corporate Prepaid CArd

A Visa Prepaid Card that draws from funds owned by a commercial or government entity in a Prepaid Account that is used primarily to pay for business travel and entertainment expenses.

Visa Payroll

A Visa Prepaid Card that enables employers to offer employees a Visa Card as an alternative to the disbursement of employment wages or salary via a check.

Non-Reloadable Card

A Visa Prepaid Card that is funded with monetary value only once.

Reloadable Card

A Visa Prepaid Card that may be funded more than once.

Visa Employee Benefit Card

A Visa Prepaid Card through which an Issuer enables employers and benefit administrators to provide employees with a Card that allows direct access to benefits such as qualified health card, dependent care, transit, fuel, and meal expenses.

Visa Gift Card

A Visa Prepaid Card, designed for consumer gift-giving.

VisaNet Interchange Center

A Visa facility that operates the VisaNet data processing systems and support networks.

Custom Payment Services (*CPS*)

A Visa payment service that accommodates specific payment environments with an identifier that remains with the Transaction throughout its life cycle.

Visa Brand Mark with the Electron Identifier

A Visa-Owned Mark consisting of the Visa Brand Mark and the name "Electron."

Primary Mark

A Visa-Owned Mark on a Card that identifies the primary Account Number when multiple Brand Marks (including both Visa-Owned and Non-Visa-Owned Marks) are contained on a Chip CArd.

Visa Brand Mark

A Visa-Owned Mark that represents the Visa organization and its product and service offerings.

Diamond Design

A Visa-Owned Mark, used as an element of the Plus Symbol, consisting of 3 triangles with an open space in the lower right-hand corner, arranged to form an outline of the symbol "*+.*"

3-D Secure

A Visa-approved Authentication Method that is the global authentication standard for Electronic Commerce Transactions.

Airline Authorizing Processor

A Visa-approved non-Member whose primary function is to provide reservation and Authorization services for Airline Transactions, or travel-related services that include the purchase of an Airline ticket.

Settlement Bank

A bank, including a Correspondent Bank or Intermediary Bank, that is both: - Located in the country where a Member's Settlement Currency is the local currency. - Authorized to execute Settlement of Interchange on behalf of the Member or the Member's bank.

Private Agreement

A bilateral agreement between Members, or the operation regulations of a Group Member, pertaining to Authorization or Clearing and Settlement of Domestic Transactions.

Dynamic Card Verification Value (*dCVV*)

A card Verification Value dynamically generated by a contact or Contactless Chip Card for inclusion in the Authorization message (for example: as part of the Magnetic-Stripe data).

VIS-Compliant

A card application that complies with either: - The Visa Integrated Circuit Card Specification (VIS) and has been approved by Visa Approval Services. - In the US Region, a Card application that complies with the Visa Integrated Circuit Card Specification (VIS).

Plus Card

A card that bears the Plus Symbol.

Visa Card

A card that bears the Visa Brand Mark, enabling a Visa Cardholder to obtain goods, services, or cash from a Visa Merchant or an Acquirer or facilitate the loading of funds to a prepaid Account.

Global Co-Branded Card

A card that: 1. Is Issued by one or more Issuers that has a contractual relationship with a Global Co-Branding Partner. 2. Bears the Trade Name or Mark of the Global Co-Branding Partner on the front of the Card. 3. May offer a Cardholder tangible benefits for Card usage and loyalty (for example: rebates, discounts, airline miles).

Point-of-Sale Balance Inquiry

A cardholder request for a Visa Prepaid Card account balance that is initiated at the Point-of-Transaction and processed as a separate, non-financial transaction.

Balance Inquiry

A cardholder request for an account balance that is initiated at an ATM and processed as a separate, non-financial transaction.

Mobile Money Operator - AP Region, CEMEA Region, and LAC Region

A category of financial service providers that may include Members or non-deposit- taking financial institutions, such as mobile network operators and micro-finance institution, that may use a Mobile Money Agent or branch network as its acquisition and service channel for Visa Mobile Prepaid account holdrs.

Prepaid Clearinghouse Service

A centralized database that consolidates, tracks, and aggregates Visa Prepaid Card enrollments, Transaction Loads, reloads, unauthorized Transaction requests, and fraud, for use in identifying and mitigating fraud within the lifecycle of a prepaid account.

Compliant Chip Card

A chip Card that contains a Visa Smart Payment application capable of processing Full Data and that complies with Chip Specifications.

EMV PIN-Compliant

A chip-Reading Device that complies with the PIN requirements of the Payment Card Industry Security Standards Council.

Visa Restricted

A classification label assigned to Visa proprietary information (highly sensitive business or technical information) or personal data that requires the highest degree of protection and the strictest standards of diligence and care to prevent unauthorized disclosure or business harm to Visa. Visa Restricted information that contains identifiable Cardholder data or personally identifiable information and is subject to regulatory requirements or industry compliance standards is further classified as "Visa Restricted - Personal Data."

Visa Confidential

A classification label assigned to information created by Visa and shared with Members under non-disclosure agreements, the use and Member handling of which is subject to certain minimum standards of diligence and care to prevent unauthorized disclosure or business harm to Visa.

Member

A client of Visa U.S.A., Visa International, Visa Worldwide, Visa Europe Limited, or Visa International Servicios de Pago Espana, S.RL.U. or a customer that has entered into a Services Agreement with Visa Canada. Requirement for membership are defined in the applicable Visa Charter Documents. The Services Agreement is a license or contract between Visa Canada and an entity that has a contract or license that allows the entity to participate in the Visa program or use the Visa-Owned Marks, including in accordance with the Visa Rules.

*Merchant Category Code* (*MCC*)

A code designating the principal trade, profession, or line of business in which a Merchant is engaged.

Authorization Code

A code that an Issuer, its VisaNet Processor, a Visa Scheme Processor, or Stand-In Processing provides to indicate approval of a Transaction. The Code is returned in the Authorization Response message and is usually recorded on the Transaction Receipt as proof of Authorization.

Multinational Company

A commercial organization with operations, subsidiaries, and employees situated in more than one country (excluding franchise representatives, independently owned dealers, and joint ventures in which a Multinational Company participates), as specified in the Visa Multinational Program Guide.

BASE I

A component of the V.I.P. System that provides Authorization-related services for Transactions that are subsequently cleared and settled through BASE II.

Visa Incentive Card

A consumer Visa Prepaid Card, designed to enable a business entity to provide consumer funds in the form of promotional discounts, rebates, or corporate incentives such as bonuses.

Mobile Payment Device

A contactless Payment Device that resides in a portable electronic device that can access a wireless network.

Prepaid Partner Agreement

A contract between a Visa Prepaid Card Issuer or Acquirer and a Member, Merchant, or Third Party Agent containing respective rights, duties, and obligations for the sale, activation, and/or Load Transaction processing of Visa Prepaid Cards.

Application Transaction Counter

A counter within the application on a contact Chip or Contactless Card that tracks the number of times the Chip is read and that is used by the Issuer during the Authorization process.

Dynamic Data Authentication

A cryptographic Value generated by a Chip on a Card in an offline environment that uses Transaction-specific data elements and is verified by a Chip-Reading Device to protect against skimming.

Floor Limit

A currency amount that Visa has established for a Transaction, above which Online Authorization is required.

Payment Card Industry Payment Application Data Security Standard (*PA-DSS*)

A data security standard that specifies security requirements for third-party Payment Application software that stores, processes, or transmits CArdholder data.

Visa Inc.

A delaware stock corporation.

Intermediary Bank

A depository institution, specified by a Member or by Visa, through which a Settlement funds transfer must be processed for credit to a Settlement account at another depository institution.

Digital Certificate

A digitally signed credential used to authenticate the owner of the credential or to ensure the integrity and confidentiality of the message it is signing.

Visa Direct Connect

A direct connection between a Merchant and VisaNet that uses Visa Merchant Direct Exchange or a Visa-approved API-based access method for authorized access for Authorization or Online Financial Transaction processing in the V.I.P. System.

Merchant Agreement

A direct contract between a Merchant and an Acquirer or between a Sponsored Merchant and Payment Facilitator, containing their receptive rights, duties, and obligations for participation in the Acquirer's Visa or Visa Electron Program.

Card Recovery Bulletin

A directory of blocked Account Numbers, intended for distribution to Merchants. It may one of the following forms: 1. National Card Recovery Bulletin (a special edition that lists domestic Account Numbers in addition to other applicable listings). 2. National Card Recovery File. 3. Regional Card Recovery File.

Order Form

A document bearing the Cardholder's siignature, either written or electronic, authorizing goods or services to be charged to his/her account. An Order Form may be any of the following: - Mail order form. - Recurring Transaction form. - Preauthorized Healthcare Transaction form. - Email or other electronic record that meets the requirement of applicable laws or regulations.

Fulfillment

A document image that the Acquirer supplies in response to a Retrieval Request.

Surcharge - AP Region

A fee assessed to a Cardholder by a Merchant in Australia that is added to a Visa Card Transaction for the acceptance of a Visa Card.

Service Fee

A fee assessed to a Cardholder that uses a Visa Card to pay for goods and services in a permitted Merchant category.

Interchange Reimbursement Fee (IRF)

A fee between Acquirers and Issuer in the Clearing and Settlement of an Interchange Transaction.

Convenience Fee

A fee charged by a Merchant for a bona fide convenience to the Cardholder (for example: an alternative channel outside the Merchant's customary payment channel) that is not charged solely for the acceptance of the Visa Card.

Cash disbursement Fee

A fee paid by an Issuer to an Acquirer for performing a Cash Disbursement.

Access Fee

A fee that is assessed by an Acquirer to a Cardholder for a Cash Disbursement.

Cardholder Maintenance File-US Region

A file containing Cardholder names, addresses, and account information provided to Visa and used for various account-related activities.

Travel Period

A fixed period of time within which a Mass Transit Merchant accumulates journey data for a Cardholder using their transit netowrk.

Money Transfer Original Credit Transaction

A funds transfer Transaction initiated by a Member that results in a credit to an Account Number for a purpose other than refunding a Visa purchase (for example: overseas remittances, gift transfers, Visa Card payments).

Global Brand Protection Program

A global program that monitors Acquirers. Merchants, Marketplaces, and Digital Wallet Operators to ensure that these entities do not: 1. Process illegal Transactions or are not associated with illegal activity. 2. Engage in potentially deceptive marketing practices, as defined in the Visa Global Brand Protection Program Guide for Acquirers. 3. Process Transactions that may adversely affect the goodwill of the Visa system.

Magnetic Strip

A magnetic strip on a Card that contains the necessary information to complete a Transaction.

Load Transaction

A means of adding monetary value to a Card (in the Europe Region, only at a Point-of-Transaction Acceptance Device).

PIN Verification

A procedure used to verify Cardholder identity when a PIN is used in an Authorization Request.

Cardholder Verification Method

A means of verifying that the person presenting a Card is the legitimate Cardholder. For a Chip Card, the hierarchy of preferences for verifying a Cardholder's identity is encoded within the Chip.

Participant-Type Member

A member of Visa characterized as a Participant, as defined in the applicable Visa Charter Documents.

Clearing Processor

A member or its Visa-approved VisaNet Processor or Visa Scheme Processor that provides Clearing and/or Settlement services for Merchants or other Members.

*BIN* Licensee

A member or non-Member VisaNet Processor or Visa Scheme Processor that is allocated responsibility by Visa for a specific *BIN*, as specified in the Visa Rules and applicable Visa Charter Documents.

Sponsor

A member or non-Member administrator that is responsible, in part or whole, for other Members of Visa, as specified in the applicable Visa Charter Documents.

Acquirer

A member that signs a Merchant or Payment Facilitator, provides a Cash Disbursement to a Chardholder, or loads funds to a Visa Prepaid Card, and directly or indirectly enters a Transaction into Interchange.

Authorization Request

A merchant or Acquirer reqquest for an Authorization.

Cruse Line

A merchant that sells tickets for, and provides, travel and overnight accommodations on a ship or boat.

Airline

A merchant that transports passengers on an aircraft.

Private Label Card

A merchant's proprietary card that is accepted only at its own locations, or a multi-use non-Visa-branded Card.

Authentication Confirmation

A message from a Verified by Visa Issuer in response to an Authentication Request confirming Cardholder authentication.

Unable-to-Authenticate Response

A message from a Verified by Visa Issuer in response to an Authentication Request indicating that the Issuer is unable to authenticate the Cardholder for reasons other than those that result in an Authentication Denial.

Attempt Response

A message from a Verified by Visa Issuer or Visa in response to an Authentication Request, indicating that the Issuer or Cardholder is not participating in Verified by Visa.

Authentication Denial

A message sent by a Verified by Visa Issuer in response to an Authentication Request, that denies Cardholder authentication.

Account Verification

A message sent by an Acquirer to the Issuer, using a currency unit of zero, for confirmation that a Transaction can be completed using the Card.

Acquirer Confirmation Advice

A message sent from an Acquirer to an Issuer confirming the final Transaction Amount.

Online

A method of requesting an Authorization through a communications network other than voice.

Post-Issuance Updates

A method that enables an Issuer to do either of the following without requiring reissuance of a Chip Card: 1. Add an application or service to a Chip (in the Europe Region, Post-Issuance Application Load). 2. Modify or block an existing application on a Chip (in the Europe Region, Post-Issuance Application Change).

Visa Mini Card

A miniaturized version of a Visa Card or Visa Electron Card that must both: - Provide the designated level of utility promised to the Cardholder. - Contain the physical elements and data components required to complete a Transaction.

Settlement Reporting Entity

A name or number of an entity assigned by Visa and authorized by the Member that is used by Visa for Settlement reporting, to associate a BIN or BIN Alternate with a Funds Transfer Settlement Reporting Entity or for other Settlement-related or other purposes.

Trade Name

A name used to identify a business and to distinguish its activities from those of other businesses. In some cases the same words or symbols may serve as a Trade Name and Mark simultaneously.

Acquirer Processor

A non-Member agent or Processor that a Member has engaged to support its Visa acquiring business.

Payment Account Reference (*PAR*)

A non-financial reference assigned to each Visa payment account that uniquely identifies that payment account and links activity related to that underlying payment account.

Registered Program Identification Number

A number assigned by an Issuer for the purpose of identifying and tracking any rewards program offered in connection with the Issuer's Card products.

Token

A numeric identifier issued in accordance with the EMV Payment Tokenization Specification that can be used in place of an Account Number to initiate a Transaction.

Visa Online

A password-protected website that provides Members, VisaNet Processors, and other authorized users with access to Visa information.

Mobile Payment Acceptance Solution

A payment acceptance application that uses a portable electronic device. The portable electronic device. The portable electronic device must exhibit both of the following characteristics: - Not solely dedicated to point-of-sale function. - The ability to wirelessly communicate across open network. The solution may also include a hardware attachment for the purpose of card reading and/or PIN entry.

Visa Commercial Cards

A physical or virtual Card intended for business expense use and comprising: - Visa Business Card. - Visa Business Electron Card. - Visa Corporate Card. - Visa Purchasing Card, including Visa Fleet Card. - Visa Agro (This only applies in the LAC Region). - V Distribution Program Card.

Account Number Verification

A process by which a Member or its Visa Net Processor determines, using a currency unit of zero, if there is negative information on an Account Number in the Exception File for Transactions that do not require Authorization.

Terminal Risk Management

A process performed by a Chip-Reading Device to protect a Member from fraud by: 1. Initiating Online Issuer Authorization for above-Floor Limit Transactions. 2. Ensuring random Online processing for below-Floor Limit Transactions. 3. Performing Transaction velocity checking.

Offline PIN Verification

A process used to verify the Cardholder's identity by comparing the PIN value contained in the Chip.

Arbitration

A process where Visa determines financial liability between Members for Interchange Transactions that are presented and have completed the Dispute cycle.

Compliance

A process where Visa resolves disputes between Members arising from violations of the Visa Rules, when the requesting Member can certify that a financial loss has occurred or will occur for a specific amount, and no Dispute right is available.

Authorization

A process where an Issuer, a VisaNet Processor, Visa Scheme Processor, or Stand-In Processing approves a Transaction. This includes Offline Authorization.

Visa Signature Card

A product name for a Visa Card that has attributes exceeding those of a Visa Gold and Visa Platinum.

Real-Time Clearing

A program for Acquirers and Merchants that allows an Automated Fuel Dispenser Merchant to send through the Single Message System and Authorization Request for an amount that may differ from the Transaction amount.

Account Information Security Program

A program managed by Visa that defines the standards of due care and enforcement for protecting sensitive Cardholder information and supports both: - Payment Card Industry Data Security Standard (PCI DSS). - Payment Card Industry Payment Application Data Security Standard (PA-DSS).

Affinity/Co-Brand

A program or partnership based on a contractual agreement between an Issuer and a Member or non-Member for the issuance of Cards bearing the Affinity/Co-Brand partner's Trade Name or Mark.

Visa Electron Program

A program through which a Member provides payments services to Visa Electron Cardholder by acting as a Visa Electron Issuer, Visa Electron Acquirer, or both.

Visa Program

A program through which a Member provides product- or payment- related services to Visa Cardholders or Merchants by acting as an Issuer, an Acquirer, or both. In the Canada Region: Visa Program may be an aggregation of individual Visa Card Programs.

Plus Program

A program through which a Plus participant provides ATM services to Cardholders by acting as an Issuer, an ATM Acquirer, or both.

Interlink Program

A program through which an Interlink participant (acting as an Interlink issuer) provides Point-of-Transaction services to Interlink cardholders, Interlink merchants, or both, as specified in the Interlink Network, Inc. Bylaws, Interlink Network, Inc. Operating Regulations and the Visa Rules.

Currency Conversion Rate

A rate set by Visa from the range of rates available in wholesale currency markets for the applicable Processing Date, which rate may vary from the rate Visa itself receives; or the rate mandated by a government or a governing body in the country in which the Transaction occurred for the applicable Processing Date. The Visa rate may be adjusted by application of an Optional Issuer Fee as determined by the Issuer when VisaNet converts the Transaction Currency to the Billing Currency. However, when VisaNet converts the Transaction Currency to the Acquirer's Settlement Currency, or to the Transaction Currency to the Acquirer's Settlement Currency, or to the Issuer's Settlement Currency, the rate is applied by Visa and may not be adjusted.

Clearing Record

A record of Presentment, Dispute, Dispute Response, Acquirer-initiated pre-Arbitration, Reversal, or Adjustment in the format necessary to clear the Transaction.

Authentication Record

A record of the Verified by Visa authentication status from a Verified by Visa Issuer in response to an Authentication Request.

Authentication Request

A request for Cardholder authentication from a Verified by Visa Merchant.

Guaranteed Reservation

A reservation made by a Cardholder who provides an Account Number, but no payment, at the time of reservation to ensure that accommodation, merchandise, or services will be available as reserved and agreed with the Merchant.

Authentication Response

A response from a Verified by Visa Issuer, or Visa on behalf of an Issuer, in response to an Authentication Request. Authentication Responses include: 1. Attempt Responses. 2. Authentication Confirmations. 3. Authentication Denials. 4. Unable-to-Authenticate Responses.

Nonfulfillment Message

A response to a Retrieval Request indicating that the Acquirer will not provide a copy.

Emergency Payment Authorization Service

A service offered to Cardholders who need to make Transactions before receiving an Emergency Card Replacement or Emergency Cash Disbursement. The service provides verbal Authorization for such emergency travel Transactions.

PIN Verification Service

A service that Visa provides for the verification of Cardholder PINs transmitted with Authorization Requests.

Settlement Service

A service that allows Members to consolidate the Settlement functions of the Visa systems into one centralized function and benefit from flexible reporting options.

Cardholder Inquiry Service

A service that assists Cardholders in reaching their Issuer when calling the Visa Global Customer Care Services for account information.

Visa Easy Payment Service (*VEPS*)

A service that permits qualified Merchants to process small value Transactions in a Card-Present Environment without requiring Cardholder Verification or the issuance of a Transaction Receipt unless requested by the Cardholder.

Single Message System

A service that processes Online Financial and Deferred Clearing Transactions through a single VisaNet interface for purchases and ATM Transactions.

Fast Funds

A service that requires a participating Recipient Issuer to make funds available to a Cardholder within 30 minutes of receipt and approval of an incoming Original Credit Transaction initiated as an Online Financial Transaction.

Chargeback Reduction Service

A service that screens Presentments and Disputes and returns certain invalid items to the Acquirer or Issuer, as appropriate.

Card Verification Service

A service where a Card Verification Value in an Authorization Request is validated on behalf of an Issuer.

Visa Cash-Back Service

A service whereby cash may be obtained from a qualifying Visa or Visa Electron Merchant through use of a Visa or Visa Electron Card, in conjunction with, and processed as, a domestic Retail Transaction.

Acquirer Device Validation Toolkit (ADVT)

A set of cards or simulated cards and test scenarios used to validate new or upgraded EMV Chip-Reading Devices.

Payment Card Industry Data Security Standard (*PCI DSS*)

A set of comprehensive requirements that define the standard of due care for protecting sensitive Cardholder information.

International Settlement

A settlement Service used to settle all Transactions that do not participate in a National Net Settlement Service, an Area Net Settlement Service, or other Settlement Service.

Aggregated Transaction

A single Transaction that combines multiple purchases made by the same Cardholder on the same Account Number at the same Merchant during a defined time period and up to a defined amount.

Payment Application

A software application contained with a Chip or payment data encoded on a Magnetic Stripe that defines the parameters for processing a Visa Transaction.

Visa Payment Application

A software application contained within a Chip or payment data encoded on a Magnetic Stripe that defines the parameters for processing a Visa Transaction and meets the minimum requirements of the Visa Program.

Visa Electron Payment Application

A software application contained within a Chip or payment data encoded on a Magnetic Stripe that defines the parameters for processing a Visa electron Card Transaction and meets the minimum requirements for the Visa Electron Program.

3-D Secure Specification

A software protocol that enables secure processing of Transactions over the Internet and other networks. 3-D Secure Specification includes: - 3-D Secure Protocol Specification Core Functions. - 3-D Secure Functional Requirements Access Control Server. - 3-D Secure Functional Requirements Merchant Server Plug-in. - EMV 3-D Secure Protocol and Core Functions Specification. - EMV 3-D Secure SDK - Device Information. - 3-D Secure SDK Specification.

Plus System, Inc

A subsidiary of Visa U.S.A. Inc. sublicensed to administer the Plus program in the United States and certain other countries in accordance with the affiliation agreements between that entity and Visa.

PIN Management Requirements Documents

A suite of PIN security documents that includes: 1. Payment Card Industry (PCI) - PIN Security Requirements. 2. Payment Card Industry (PCI) PIN Transaction Security (PTS) - Point of Interaction (POI) Modular Security Requirements.

Authorization Reversal

A system message that cancel an Approval Response.

EU Passporting- Europe Region

A system which allows payment service providers legally established in one member state of the European Economic Area to provide their service cross-border in the other member states of the European Economic Area either directly or through a physical establishment subject to meeting formal notification and approval requirements of the home and host regulator.

Emergency Card Replacement

A temporary Visa Card that Visa Global Customer Assistance Services or its Agent provides to replace an Eligible Cardholder's damaged, lost, or stolen Visa Card.

Waiver

A temporary, formal consent granted by Visa that permits a Member or Members to not comply with one or more specific rules in the Visa Rules for a specified period of time.

Merger

A term used to describe any of the following: * Purchase of a Member organization by another organization where the acquired Member's charter is dissolved. * Merging of two or more organizations into a single entity requiring a new charter.

Magnetic-Strip Terminal

A terminal that reads the Magnetic Stripe on a Card.

Third-Party Personalizer

A third party that Visa certifies or approves to personalize Cards for Issuers.

Credit Transaction

A transaction representing a Merchant's refund or price adjustment credited to a Carehholer's account.

Dispute

A transaction that an Issuer returns to an Acquirer.

Account Funding

A transaction that transfers funds from a Visa account to another Visa or non-Visa account.

Funds Disbursement

A transaction used by a Member or Visa to disburse funds to a Clearing Processor.

Fee Collection Transaction

A transaction used to collect financial obligations of a Member arising out of the Visa Rules the Visa Charter Documents, or other requirements adopted by Visa.

Domestice Transaction

A transaction where the Issuer of the Card used is located in the Transaction Country.

Account Data Compromise Event

An Event in which account data is put at risk.

Card Verification Value (*CVV*)

A unique check value encoded on the Magnetic Stripe of a Card to validate Card information during the Authorization process. The Card Verification Value is calculated from the data encoded on the Magnetic Stripe using a secure cryptographic process.

Card Verification Value 2 (*CVV2*)

A unique check value generated using a secure cryptographic process that is displayed either statically or dynamically (referenced as *dCVV2*) on the back of a Visa Card or provided to a Virtual Account owner.

Airline Ticket Identifier

A unique value (for example: carrier code or number, ticket serial number, transmission control number) of up to 13 characters that identifies the purchase of an Airline ticket.

Transaction Identifier

A unique value assigned to each Transaction and returned to the Acquirer in the Authorization Response. Visa uses this value to maintain an audit trail throughout the life cycle of the Transaction and all related transactions, such as Reversals, Adjustments, confirmations, and Disputes.

Cardholder Authentication Verification Value

A unique value transmitted in response to an Authentication Request.

Visa Checkout Account

A user that has successfully enrolled in Visa Checkout. A Visa Checkout Account Holder may or may not be a Cardholder.

Service Code

A valid sequence of digits recognized by VisaNet that is encoded on a Magnetic Stripe and replicated on the Magnetic-Stripe Image in a Chip that identifies the circumstances under which the Card is valid (for example: International Transactions, Domestic Transactions, restricted Card use), and defines requirements for processing a Transaction with the Card (for example: Chip-enabled, Cardholder Verification, Online Authorization).

Cryptogram

A value resulting from a combination of specific key data elements that are used to validate the source and integrity of data.

Electronic Commerce Indicator

A value used in an Electronic Commerce Transaction to indicate the Transaction's level of authentication and security.

Auto Rental Collision Damage Waiver

A visa Card feature that provides Visa Cardholders with collision or loss damage insurance on car rental Transactions.

Visa Business Card

A visa Card issued to employees or sole proprietors of small businesses for the payment of employees' business travel and general business expenses. This does not apply in the US Region to Visa Business Check Cards used to pay debt.

Arbitration and Compliance Committee

A visa committee that resolves certain disputes between Members that arise from Disputes or from violations of the Visa Rules.

Authentication Mechanism

A visa-approved method that validates a participant's identity in an Electronic Commerce Transaction. Authentication Mechanisms include, but are not limited to: - Password. - Digital Certificate.

Exception File

A visaNet file of *Account Numbers that a Member accesses Online*, for which the Issuer has predetermined an Authorization Response. The Exception File supports: - Stand-In Processing. - Positive Cardholder Authorization. - Production of the Card Recovery Bulletin. In the Europe Region: A file of Account Numbers for which the Issuer has predetermined an Authorization Response, which a Member accesses Online.

National Card Recovery File

A weekly file of all Account Numbers listed on an Exception File with a Pickup Response.

Mark

A word, name, design, symbol, or other device, or any combination thereof, that Visa or any entity adopts to identify its goods or services.

Authentication Data

All Transaction-related data associated with a Verified by Visa Authentication Request.

Clearing

All of the functions necessary to collect a Clearing Record from an Acquirer in the Transaction Currency and deliver it to the Issuer in the Billing Currency, or to reverse this transaction, or to process a Fee Collection Transaction.

Visa-Owned Marks

All trademarks and other brand assets (for example: animation, sound, haptic) owned by Visa.

Visa ATM

An ATM that displays the Visa Brand Mark or the Visa flag Symbol, but not the Plus Symbol.

Plus ATM

An ATM that displays the plus Symbol and not the Visa Brand Mark.

Visa/Plus ATM

An ATM that: 1. Displays the Visa Brand Mark and the Plus Symbol. 2. May also display the Visa Brand Mark with the Electron Identifier.

Compliant Chip Card Reading Device

An Acceptance Device (excluding an ATM) capable of reading communicating, and processing full data Transactions* from a Compliant Chip Card. * Processed by Acquirers certified by Visa to process full data.

Chip-Reading Device

An Acceptance Device capable of reading, communicating, and processing Transaction data from a Chip Card.

Unattended Cardholder-Activated Terminal

An Acceptance Device that dispenses goods and/or provides services under all of the following conditions: - Card is present. - Cardholder is present. - Individual representing the Merchant or Acquirer is not physically present. - Authorization, if required is obtained electronically.

Account-Number-Verifying terminal

An Acceptance Device that: 1. May be required at specified high-risk locations. 2. Reads the Account Number encoded on the Magnetic Strip or Chip. 3. Compares the last 4 digits of the encoded Account Number to the key-entered last 4 digits of the embossed or printed Account Number. 4. Transmits the full, unaltered contents of the Magnetic Strip or Chip in the Authorization Message.

Deposit-Only Account Number

An Account Number established by an Issuer, used exclusively to receive an Original Credit Transaction on behalf of its Cardholder.

Confidential Consumer Cardholder Information

An Account Number or other personally identifiable information relating to a Consumer Cardholder.

Voice Authorization

An Approval Response obtained through interactive communication between an Issuer and an Acquirer, or their VisaNet Processors through telephone or facsimile communications.

Initial Authorization Request

An Authorization Request for a capped amount or an amount based on an interim purchase or order and that is submitted before the final Transaction amount known.

Status Check Authorization

An Authorization Request for one currency unit submitted by an Automated Fuel Dispenser Merchant.

Estimated Authorization Request

An Authorization Request for the amount that a Merchant expects a Cardholder to spend in an individual Transaction and that is submitted before the final Transaction amount is known.

Incremental Authorization Request

An Authorization Request that both: - Follows an approved Estimated Authorization Request or Initial Authorization Request. - Is for an additional amount that Merchant expects a Cardholder to spend or that the Cardholder has incurred in an individual Transaction.

Point-of-Sale Balance Return

An Authorization Response in which an Issuer of Visa Prepaid Cards provides the remaining balance for participating Merchants to print on the Transaction Receipt.

Pickup Response

An Authorization Response where the Transaction is declined and confiscation of the Card is requested.

Approval Response

An Authorization Response where the Transaction was approved.

Partial Authorization

An Authorization for an an amount less than the amount requested by a Merchant for a Transaction.

Fallbak Transaction

An EMV Chip Card Transaction initially attempted at a Chip-Reading Device, where the device's inability to read the Chip Card data, and the Transaction is instead completed using an alternate means of data capture and transmission.

*Chip-initiated* Transaction

An EMV and VIS-Compliant Chip Card Transaction that is processed at Chip-Reading Device using Full-Chip Data, and limited to Visa and Visa Electron Smart Payment applications, or EMV and VIS-Compliant Plus applications.

PIN-Preferring Chip Card

An EMV and VISA-Compliant Chip Card containing a Visa or Visa Electron Smart Payment Application, and a Cardholder Verification Method list specifying a preference for a PIN-based Cardholder Verification Method (either offline or online).

Application Identifier

An EMV-Compliant data label encoded on a Chip Card and loaded on a Chip Reading Device that is used to identify mutually supported payment applications.

Secure Electronic Commerce Transaction

An Electronic Commerce Transaction that has been authenticated using an Authentication Method.

NOn-Secure Transaction

An Electronic Commerce Transaction that has no data protection.

Non-Authenticated Security Transaction

An Electronic Commerce Transaction that uses data encryption for security but is not authenticated using an Authentication Method.

*POS* Entry Mode

An International Organization for standardization-defined Authorization or Online Financial Transaction field indicating the method used to obtain and transmit the Cardholder information necessary to complete a Transaction (for example: manual key entry, Magnetic-Strip read, Chip-read).

Visa Token Service Basic Issuer Participant

An Issuer in a country listed in the Visa Token Service Basic Issuer Participation Service Guide that has been enrolled by Visa to participate in the Visa Token Service for Card-Absent Environment Transactions.

Visa Token Service Active Issuer Participant

An Issuer that has performed the onboarding process with Visa to participant in the Visa Token Service.

Recipient Issuer

An Issuer that receives an Original Credit Transaction.

Authorization Response

An Issuer's reply to an Authorization Request or Account Number Verification that refers to the following types of Authorization Responses: - Approval Response. - Decline Response. - Pickup Response.

Retrieval Request

An Issuer's request for a Transaction Receipt, which could include the original, a paper copy or facsimile, or an electronic version thereof.

Consumer Device Cardholder Verification Method (*CDCVM*)

An Issuer-approved, Visa-recognized method for capturing the Cardholder Verification Method on a Mobile Payment Device.

Account Number

An Issuer-assigned number that identifies an account in order to post a transaction.

Offline Authorization

An Issuer-controlled process that allows a Chip-initiated Authorization Request to be processed in a below-Floor Limit environment without sending the request to the Issuer.

Stand-In Processing Account

An Issuer-supplied valid Account Number (established and activated in the Issuer's Authorization system) that is maintained by Visa Global Customer Card Services. This Account Number is embossed and encoded on an Emergency Card Replacement when the Issuer is not available to provide a new Account Number.

Mobile Push Payment Transaction

An Original Credit Transaction initiated by a Visa account holder using a mobile device (for example: mobile phone, tablet) for the payment of goods or services, Cash-In, or Cash-Out. In the Ap Region (Australia, New Zealand), Canada Region, Europe Region, US Region: this is not available.

Automated Fuel Dispenser

An Unattended Cardholder-Activated Terminal that dispenses only fuel. An Automated Fuel Dispenser may also facilitate a Transaction originating from an application using a Stored Credential on a Cardholder device.

Prepaid Account

An account established by an Issuer, with previously deposited, authorized or transferred funds, which is decreased by purchase Transactions, Chas Disbursements, or account fees.

Payment Facilitator Agreement

An agreement between a Payment Facilitator and an Acquirer containing their respective rights, duties, and obligations for participation in the Acquirer's Visa Program.

Integrated Card Verification Value (iCVV)

An alternate Card Verification Value that an Issuer must encode in the Magnetic-Strip Image on a Chip instead of the Card Verification Value contained in the Magnetic Stripe of the Chip Card.

Authorization Request Cryptogram

An application Cryptogram generated by a Chip Card when requesting Online Authorization.

Merchant Verification Value (MVV)

An assigned value transmitted in the Transaction message used by Visa to identify an Acquirer or Merchant that is registered with Visa: - To assess specific fees. - For other special Interchange treatment. - For participation in select acceptance programs. - For unique processing criteria. The MVV consists of 10 digits, the first 6 of which are assigned by Visa. This does not apply in Europe Region.

Chip

An electronic component designed to perform processing or memory functions that communicates with an Acceptance Device using a contact or Contactless interface and enables Visa Transaction processing or performs other Visa-approved functions.

Interchange File

An electronic file containing a Member's Interchange data.

Transaction Receipt

An electronic or paper record of a Transaction (or a copy), generated at the Point-of-Transaction.

Funds Transfer Settlement Reporting Entity

An endpoint within a Visa Settlement hierarchy associated with one or more Settlement Reporting Entities.

V Distribution Program

An enhanced Visa Business card or Visa Purchasing Card program that enables wholesale and retail Merchants to use a Visa product to pay for goods and services in a business-to-business setting.

Sponsored Merchant

An entity for which Visa payment services are provided by a Payment Facilitator.

Licensee

An entity licensed to participate in the Visa or Visa Electron Program that is neither a: 1. Member. 2. Member or owner of a Group Member.

Plus Program Participant

An entity participating in the Plus Program as specified in the Visa International Certificate of Incorporation and By-Laws, Section 2.09 (or, in the Europe Region, Visa Europe Limited Membership Regulations, Section 2.5).

Token Requestor

An entity registered with a Token Service Provider to initiate requests for payment Tokens in accordance with the EMV Payment Tokenization Specification.

Agent

An entity that acts as a VisaNet Processor or a Visa Scheme Processor, a Third Party Agent, or both.

Mobile Money Agent - AP Region, CEMEA Region, and LAC Regioin

An entity that delivers Transaction services to Visa Mobile Prepaid account holders, including, but not limited to, customer registration, Card distribution, cash-ins, and cash-outs.

Token Service Provider

An entity that provides a payment Token to a Token Requestor.

Third Party Agent

An entity, not defined as VisaNet Processor or Visa Scheme Processor, that provides payment-related services, directly or indirectly, to a Member and/or stores, transmits, or processes Cardholder data. No financial institution eligible to become a Principal Member of Visa may serve as a Third Party Agent. A Third Party Agent does not include: 1. Financial institutions that perform Agent activities. 2. Affinity Co-Brand Partners or Global Co-Branding Partners. 3. Card manufacturers. 4. Card personalizers.

Card-Present Environment

An environment in which a Transaction is completed under all of the following conditions: 1. Card is present. 2. Cardholder is present at the Merchant Outlet. 3. Transaction is completed by either: - A representative of the Merchant or Acquirer. - The Cardholder directly at an Unattended Cardholder-Activated Terminal.

Face-to-Face Enviornment

An environment in which a Transaction is completed under all of the following conditions: 1. Card or Contactless Payment Device used to complete the Transaction is present. 2. Cardholder is present. 3. Individual representing the Merchant or Acquirer is available to complete the Transaction.

Card-Absent Environment

An environment in which a Transaction is completed under both of the following conditions: 1. Cardholder is not present. 2. Card is not present.

New Channel

An environment in which payment is initiated via a terminal, personal computer or other device that does not use a standard Hypertext Markup Language (HTML) browser to process an Authentication Request.

Commercial Payables

An environment where a Visa Commercial Card Transaction occurs between business entities, generally through negotiated contractual agreements, or in response to the generation of an invoice requesting payment for goods or services.

Acquirer Reference Number

An identification number included in a Clearing Record.

Manual Imprint

An imprint of the embossed data on the front of the Card using a specifically-designed mechanical imprinting device. An impression taken from the Card using pencil, crayon, or other writing instrument does not qualify.

Cardholder

An individual who is issued a Visa Card.

Reference Card

An item containing relevant account information, such as an Account Number or expiration date, that is provided to a Virtual Account owner.

Visa Resolve Online

An online Visa service for the retrieval and transmission of dispute resolution information and documentation.

Marketplace

An online marketplace that accepts Visa and brings together Cardholders and retailers on an electronic commerce website or mobile application, and meets all Visa qualification requirements.

Authorization and Settlement Match

An optional Visa service offered to Issuers in connection with Visa Purchasing Card Commercial Payables Transactions which allows Visa to edit for an exact match between the amount in the Authorization Request and the corresponding Clearing Record. The service applies only to Transactions conducted at a non-T&E Merchant or Lodging Merchant as specified in the Visa Settlement Match (VSM) Implementation Guide.

Visa Payment Controls

An optional Visa service that allows Cardholders to monitor and control Card use by authorizing Issuers to selectively block certain types of Visa Transactions processed through VisaNet, based on the list of available control criteria (for example: MCC, dollar amount, location).

Visa Transaction Alerts Service

An optional Visa service that enables Cardholder notification of Transactions occurring on their Cards or account in near-real time.

Visa Payables Automation

An optional electronic payment solution that enables Issuers to automate their accounts payable processes using Visa Commercial Cards and one of the Visa Commercial Solutions Data and Reporting Tools.

Account Level Processing - AP Region, Canada Region, and CEMEA Region

An optional service provided by Visa that enables an Issuer: - To manage select product-based services at the 16-digit Account Number level instead of the BIN level. - To dynamically move Card products up and down the product spectrum without having to change the associated Account Number.

Visa IntelliLink Spend Management

An optional service provided to Members and their Visa Commercial Card client to access and manage commercial multi-program data, reports, statements, and expense management.

Visa FeatureSelect

An optional service that allows Issuers to automate the customization, management, and servicing of core and Issuer-registered optional Card enhancements for all Visa and non-Visa products at the product, BIN, Account Number range, Registered Program Identification Number (*RPIN*), or 16 digit Account Number level.

Visa Transaction Information

Any Transaction information or data that is contained in either the Authorization message or Clearing Record.

Liability

Any and all damages (including lost profits or savings, indirect, consequential, special, exemplary, punitive, or incidental), penalties, fines, expenses and costs (including reasonable fees and expenses of legal and other advisers, court costs and other dispute resolution costs), or other losses.

Online Gambling

Any form of gambling provided over the internet or other networks by an Electronic Commerce Merchant, including but not limited to the following: - Betting. - Lotteries. - Casino-style games. - Funding an account established by the Merchant on behalf of the Cardholder for the purpose of gambling. - Purchase of value for proprietary payment mechanisms, such as electronic gambling chips.

Numeric ID

Any identifier, other than a BIN, assigned by Visa to a Visa Member, VisaNet Processor, Visa Scheme Processor, or Third Party Agent, including, but not limited to, Processor Control Records (PCR) station IDs, Acquiring IDs, and Routing IDs, used to facilitate transaction routing and processing.

Functional Type

Any mixture of alphanumeric characters or graphics that denotes participation in a program or benefit (for example: a loyalty or rewards program, an identification number, a bar code, or a QR code that can be scanned or read by an electronic reader or application enabling access to a membership or website/application).

Visa Region

Any of the 6 national or multinational geographic areas, as follows: * Asia-Pacific (AP) Region. * Canada (CAN) Region. * Central and Eastern Europe, Middle East and Africa (CEMEA) Region. * Europe Region. * Latin America and Caribbean (LAC) Region. * United States of America (US) Region.

Workout Period

As a part of the Visa Chargeback Monitoring Program (VCMP) and Visa Fraud Monitoring Program (VFMP), a 3 month remediation period during which Visa manages a corrective-action plan between a Merchant and its Acquirer to bring the Merchant's Dispute or Fraud Activity within acceptable levels. The Workout Period is not applicable to any of the following: 1. High-Brand Risk Merchants, as specified in Section 10.4.6.1, High-Brand Risk MCCs. 2. Merchants that exceed the excessive Dispute or Fraud Activity thresholds. 3. Merchants that are escalated to the VCMP high-risk program or the VFMP high-risk program if Visa determines that the Merchant's activities may cause undue harm to the goodwill of the Visa System.

AP

Asia-Pacific.

Imprint

Cardholder data transferred from a Card to a TransactionReceipt to complete a Transaction. There are 2 kinds of imprints: 1. Electronic Imprint. 2. Manual Imprint.

Cash-In

Cash deposited at a Merchant that supports Mobile Push Payment Transactions, for crediting to an Account Number.

Cash-out

Cash obtained by a Visa account holder from a Merchant that supports Mobile Push Payment Transactions.

Cash-Back

Cash obtained from a Visa or Visa Electron Merchant through the use of a Visa or Visa Electron Card, in conjunction with, and processed as, a Retail Transaction.

*CEMEA*

Central and Eastern Europe, Middle East, and Africa.

Visa Integrated Circuit Card Specification (VIS)

Chip Card and terminal requirements for Visa Smart Payment programs that serve as companion specification to the EMV Integrated Circuit Card Specifications for Payment Systems (EMV)

Cash Disbursement

Currency, including travelers cheques and excluding Cash-back, provided to a Cardholder as follows: 1. As a Cash-out. 2. As a Manual Cash Disbursement. 3. Through an ATM.

Magnetic-Stripe Data

Data contained in a Magnetic Strip and replicated in a Chip.

Enhanced Data

Data provided through Visa to an Issuer. Such data may include either or both: - Enhanced Merchant-Level Data (including data for a Sponsored Merchant or a Payment Facilitator). - Enhanced Transaction-Level Data.

Summary of Interchange Entries

Data required to accompany domestic Interchange processed under a Private Agreement.

Full-Chip Data

Data that complies with all of the following: 1. Conforms to EMVCo minimum requirements. 2. Supports cryptographic validation online. 3. Records the Card and terminal interactions completed during a Transaction.

An Authorization Response where the Transaction was declined.

Decline Response

Trailing Dispute Activity

Dispute activity at a Merchant Outlet that occurs after an Acquirer has stopped processing sales Transactions for the Merchant.

Visa Smart Payment

EMV-Compliant and VIS-Compliant applications that provide payment service options and controls to Issuers of Chip Cards bearing the Visa Brand Mark or the Visa Brand Mark with the Electron Identifier.

*Virtual Account*

Either: - An account established for an individual or a commercial entity primarily for completing Electronic Commerce Transactions and for which no physical Card is required. - For a Visa B2B Virtual Payments Program product, a dynamic Account Number generated in connection with a Card-Absent Environment Transaction initiated by a commercial entity. This does not include the accounts established for facilitating Mobile Push Payment Transactions.

International Airline

Either: - An Airline that sells tickets directly in its own name in 2 or more countries, operates scheduled flights between 2 or more countries, or both. - Its authorized agent that sells airline tickets on behalf of the Airline(except in the Europe Region).

Visa Infinite Exclusive Privileges

Exclusive privileges made available to Visa Infinite Cardholder through Merchant partnerships.

Pass-Through Digital Wallet

Functionality provided by a Digital Wallet Operator (*DWO*) (that does all of the following:) (- Can be used at more than one Merchant.) - Stores and transmits an Account Number (supplied by the Cardholder) or payment Token and Payment Account Reference. - Is used by the DWO to complete a Transaction by transferring the Account Number or Token to the Merchant without interrupting.

Staged Digital Wallet

Functionality provided by a Digital Wallet Operator (DWO) that does all of the following: 1. Can be used at more than one retailer. 2. Uses both: - An Account Number (provided by the Cardholder) or payment Token and Payment Account Reference. - A separate account or accounts assigned by the DWO to the Cardholder. 3. Is used by the Staged Digital Wallet Operator to complete a Transaction, in any order, as follows: - Purchase: pays the retailer using the account assigned by the DWO. - Funding: uses the account Number (provided by the Cardholder) or corresponding payment Token and payment Account Reference to fund or reimburse the Staged Digital Wallet. The DWO deposits the Transaction for the funding amount with its Acquirer using the Account Number provided by the Cardholder (or associated Token). 4. Is capable of a purchase with back-to-back funding, (also known as liveload), where the funding Transaction both: - Is initiated by the the SDWO. - Corresponds to, or is otherwise directly connected to a specific purchase. The amount funded from the Account Number or Token may represent the whole or a part of the purchase price and consist of one or more funding Transactions.

National Organization

In THE AP Region, Canada Region, CEMEA Region, LAC Region, and US Region: An organization as defined under the Visa International Certificate of Incorporation and By-Laws, Section 16.01.

Tracing Data

In a Single Message System Online message, the transmission date and time, systems trace audit number, retrieval reference number, Transaction identifier, and acquiring institution ID. See Acquirer Reference Number.

Merchant

In the AP Region, Canada Region, CEMEA Region, LAC Region, US Region, An entity that accepts a Visa Card for the sale of goods/services or to originate funds transfers to another Visa or non-Visa account and submits the resulting Transaction to an Acquirer for Interchange, directly or via a Payment Facilitator. A Merchant may be a single Merchant Outlet or represent multiple Merchant Outlets. In Europe Region: An entity that enters into an agreement with an Acquirer for the acceptance of Cards for purposes of originating either payment Transactions or funds transfer Transactions under the Visa-Owned Marks.

Operating Certificate

In the AP Region, Canada Region, CEMEA Region, LAC Region, and US Region, a report that a Member or Non-Member Administrator sends to Visa at a set pre-determined time, detailing its Visa Card and Merchant statistics. In the Europe Region, the certificate supplied by each Member to Visa pursuant to Part B of the Visa Europe Limited Membership Regulations.

Group Member

In the AP Region, Canada Region, CEMEA Region, LAC Region, and US Region: A Member as defined under the Visa International Certificate of Incorporation and By-Laws Section 2.21.

Issuer

In the AP Region, Canada Region, CEMEA Region, LAC Region, and US Region: A Member that enters into a contractual relationship with a Cardholder for the issuance of one or more Card products. In the Europe Region: A Member that issues a Card to a Cardholder and maintains the contractual privity relating to the Card with that Cardholder.

Global Compromised Account Recovery

In the AP Region, Canada Region, CEMEA Region, LAC Region, and US Region: A visa program by which Visa allocates to affected Issuers a portion of the operating expenses that are associated with an Account Data Compromise Event involving a compromise of either: 1. In a Card-Absent Environment, a Chip Card's Account Number and expiration date. 2. IN a Card-Present Environment, a Chip Card's Account Number and Card Verification Value.

Private Arrangement

In the Canada Region, US Region: An agreement where Authorization Requests or Transactions involving 2 different Members are not processed through VisaNet. Private Arrangements are prohibited.

Stored Credential

Information (including, but not limited to, an Account Number or payment Token) that is stored by a Merchant or its agent, a Payment Facilitator, or a Staged Digital Wallet Operator to process future Transactions.

Transaction Information

Information necessary for processing Transactions, as specified in the Payment Card Industry Data Security Standard (PCI DSS)

Enhanced Merchant-Level Data

Merchant- or Sponsored Merchant-related data (including Payment Facilitator data) provided through Visa to an Issuer. Such data includes: 1. Merchant street address. 2. Merchant telephone number. 3. Incorporation status. 4. Owner's name.

Board of Directors

One of the following, as applicable: - Visa Inc. Board of Directors. - Visa International Board of Directors. - Visa U.S.A. Board of Directors. - Visa Canada Board of Directors. - Visa Europe Board of Directors. - Visa International Servicios de Pago Espana, S.R.L.U. Board of Directors. - Visa Worldwide Board of Directors.

Counterfeit Card

One of the following: 1. A device or instrument that is printed, embossed, or encoded so as to purport to be a Card, but that is not a Card because an Issuer did not authorize its printing, embossing, or encoding. 2. An instrument that is printed with the authority of the Issuer and that is subsequently embossed or encoded without the authority of the Issuer. 3. A card that an Issuer has issued and that is altered or re-fabricated, except one on which the only alteration or re-fabrication comprises modification of the signature panel or Cardholder signature.

Fee Schedule

One of the following: 1. Visa Asia-Pacific Fee Schedule. 2. Visa Canada Fee Schedule. 3. Visa CEMEA Fee Schedule. 4. Visa Europe Fee Schedule: - Visa Europe Fee Schedule - Non-EEA. - Visa Europe Fee Schedule - Non- Regulated. - Visa Europe Fee Schedule - Scheme. 5. Visa LAC Fee Schedule. 6. Visa U.S.A Fee. 7. Any domestic or local Visa fee schedule.

Mail/Phone Order

Purchase in a Card-Absent Environment where a Cardholder orders goods or services from a Merchant by telephone, mail, or other means of telecommunication.

Visa Global Customer Assistance Services

Services provided by Visa Global Customer Care Services to Cardholders and Issuers, including customer and emergency services provided to Cardholders traveling away from home. These include the: 1. Cardholder Inquiry Service. 2. Emergency Cash Disbursement. 3. Emergency Card Replacement. 4. Lost/Stolen Card Reporting. 5. Exception file updates. 6. Visa TravelMoney customer service.

EMV Integrated Circuit Card Specifications for Payment Systems (*EMV*)

Technical specifications developed (jointly by Europay International, Master Card International, and Visa International) to provide standards for processing debit and credit Transactions and ensure global interoperability for the use of Chip technology in the payment industry.

Visa Global Customer Care Services

The 24-hour-a-day, 7-day-a-week centers that provide services including: 1. Those specified in the Visa Global Customer Assistance Services Program. 2. Information and certain types of non-emergency assistance while traveling.

Billing Currency

The Currency in which an Issuer bills and receives payment from a Cardholder for Transactions, or debits the associated Cardholder's account for Transactions.

Plus Program Marks

The Marks used in connection with the Plus Program, including the Diamond Design, Plus Symbol, Plus wordmark, Plus Symbol-Contained, and Plus Symbol-Uncontained, as specified in the Visa Product Brand Standards.

Merchant Outlet

The Merchant location at which a Transaction is completed.

Electronic Imprint

The Reading and printing or capture of Card information at a Magnetic-Stripe Terminal or a Chip-Reading Device.

Deferred Settlement

The Settlement funds transfer of a Transaction, according to the Member's instructions in the Clearing Record that occurs more than 2 business days after the Processing Date.

Region of Domicile

The Visa Region where a Member has its principal place of business.

Plus Symbol

The Visa-Owned Mark that represent the Plus Program and that complies with the specifications in the Visa Product Brand Standards.

VisaNet Settlement Service

The VisaNet system that provides Settlement reporting and funds transfer services to BASE II and V.I.P. System Clearing Processors.

Minimum Spending Limit

The ability of a Cardholder to accumulate charges up to a predefined value during each or any statement cycle. For products with debit capabilities, Minimum Spending Limit is subject to available funds in the account of the Cardholder.

Instant Card Personalization

The ability to instantly personalize Visa Cards at a location other than a Member's card manufacturing facility to allow any of the following: - Immediate delivery of the Card at the Branch. - Respond immediately to a request for an emergency replacement of a Cardholder's lost or stolen card.

Transaction

The act between a Cardholder and a Merchant or an Acquirer that results in a Transaction Receipt, if applicable.

Indemnification

The act of indemnifying, defending, and holding harmless (see Indemnify).

Stand-In Processing (*STIP*)

The component that provides Authorization services on behalf of an Issuer when the Positive Cardholder Authorization System is used or when the Issuer, its VisaNet Processor, or a Visa Scheme Processor is unavailable.

Dynamic Currency Conversion

The conversion of the purchase price of goods or services from the currency in which the purchase price is displayed to another currency. That currency becomes the Transaction Currency, regardless of the Merchant's local currency.

Country of Domicile

The country in which a Member has its principal place of business.

Transaction Country

The country in which a Merchant Outlet is located.

Settlement Amount

The daily net amounts expressed in a Member's Settlement Currency resulting from Clearing. These amounts include Transaction and Fee Collection Transaction totals, expressed in a Member's Settlement Currency.

Processing Date

The date (based on Greenwich Mean Time *GMT*) on which the Member submitted, and Visa accepted, Interchange data Equivalents to the Processing Date are: 1. In BASE II, the central processing date. 2.In the Single Message System, the Settlement Date (for financial Transactions) or date the Transaction is entered into the Single Message System (for non-financial Transactions). 3. If cleared under a Private Agreement, the date on which a Member processes outgoing Interchange. 4. Endorsement date, if the Interchange data was accepted by Visa on the same date on which it was first submitted by the Acquirer. 5. The date on which Visa accepted an action processed through Visa Resolve Online (*VROL*).

Settlement Date

The date on which Visa initiates the transfer of Settlement Amounts in the Settlement of Interchange. See Processing Date.

Transaction Date

The date on which a Transaction between a Cardholder and a Merchant or an Acquirer occurs.

Interchange

The exchange of Clearing Records between Members. The Visa Rules refer to the following types of Interchange: 1. Domestic Interchange. 2. International Interchange.

Transaction Currency

The fiat currency in which a Transaction is completed.

Principal Place of Business

The fixed location at which a Merchant's or Payment Facilitator's executive officers direct, control, and coordinate the entity's activities.

European Union

The following: Austria; Belgium; Bulgaria; Croatia; Cyprus; Czech Republic; Denmark; Estonia; Finland (including Aland Islands); France; Germany; Gibraltar; Greece; Greece; Hungary; Republic of Ireland; Italy; Latvia; Lithuania; Luxembourg; Malta; Netherlands; Poland; Poland; Portugal (including Azores, Madeira); Romania; Slovakia; Slovenia; Spain (including Canary Islands, Ceuta, Melilla); Sweden; United Kingdom.

Magnetic-Stripe Image

The minimum Chip payment data replicating the Magnetic Stripe information required to process an EMV-Compliant Transaction.

Visa Global ATM Network

The network through which an ATM participant provides Cash Disbursement services to Cardholders by acting as an Issuer, an ATM Acquirer, or both.

Pblic Key

The non-secret portion of the cryptographic method used for verification during a Tranaction.

Branch

The office of a Member where Manual Cash Disbursements may be made and Cards may be issued excluding drive-through windows providing reduced customer services, in-store counters, or service centers that do not store cash on the premises.

Visa Worldwide Pte. Ltd.

The organization operating the Visa Network in the AP Region.

Visa Mobile Payment Application

The payment application that resides in a Mobile Payment Device.

Point of Transaction

The physical location or online address where a Merchant or Acquirer completes a Transaction.

Global Member Billing Solution

The primary billing system used by Visa

Cardholder Verification

The process of validating a Cardholder's identity through verification of the Cardholder's signature, PIN, *Consumer Device Cardholder Verification Method* (*CDCVM*), or other methods as required in the Visa Rules.

V.I.P. System

The processing component of the VisaNet Integrated Payment System comprised of BASE I and the Single Message System used for single message Authorization in connection with financial Transaction processing.

Acquisition

The purchase of a Member organization by another organization where the acquired Member's charter remains intact.

Ancillary Purchase Transaction

The purchase of goods and services, other than a passenger ticket, completed at an Airline or a US passenger railway Merchant.

Operating Expense Recovery

The recovery amount provided to Issuers through the *Global Compromised Account Recovery* (*GCAR*) program associated with an account Date Compromise Event.

Settlement

The reporting and funds transfer of Settlement Amounts owed by one Member to another, or to Visa, as a result of Clearing.

Edit Package

The software that Visa supplies to VisaNet Processors to: - Validate Interchange data. - Process Interchange data sent from the VisaNet Processor to Visa. - Process incoming Transactions received from Visa.

Deposit

The submission of a Transaction by a Merchant, Payment Facilitator, or Staged Digital Wallet Operator to an Acquirer, resulting in a credit or debit to the Merchant's, Sponsored Merchant's, or Payment Facilitator's account.

VisaNet

The system and services, including the V.I.P. System, Visa Europe Authorization Service, BASE II, and the Visa Europe Clearing and Settlement System, through which Visa delivers online financial processing, Authorization, Clearing, and Settlement services to Members, as applicable.

Indemnify

To Indemnify, defend, and hold harmless (see Indemnification).

Enhanced Transaction-Level Data

Transaction-related data provided through Visa to an Issuer. Such data includes: 1. Accounting code. 2. Sales tax or value-added tax. 3. Description of items purchased, cost per unit, number of units. 4. Vehicle fleet data (Vehicle/driver ID, odometer reading). 5. Detailed itinerary information (Airline, origination/destination, class of travel). 6. For an Ancillary Purchase Transaction, all required data elements.

Visa Commercial Data Solutions and Reporting Tools

Various optional data management, reporting, and analysis services provided to Issuers and their clients or Client Organizations in connection with their Visa Commercial Card programs.

Visa Products

Visa Cards, Visa Electron Cards, components, or secure features that relate to Card production, manufacture, personalization, or fulfillment by a Visa-approved manufacturer, Third-Party Personalizer, or Visa-approved fulfillment vendor.

Visa

Visa International Service Association and all of its subsidiaries and affiliates, and subsidiaries and affiliates of Visa Inc. When used within the Visa Rules, Visa refers to any Visa Inc. subsidiary, affiliate, regional office, management, or committee as applicable.

Visa Checkout

Where available, a Visa platform that enables a Visa Checkout Account Holder to store and manage accounts in a secure centralized location, make purchases with Visa Checkout Merchants, and use other forms of financial and non-financial services.

Multi-Country Issuing

Within the Visa Multinational Program, a scenario in which a lead Bank forms a relationship with a Partner Bank located in another country for the purpose of issuing Visa Commercial Card products to itsMultinational Company clients Multi-Country Issuing is identified in the Visa Multinational Program Guide as "Indirect Cross-Border Issuing."

Notification

Written notice delivered by mail, courier, facsimile, hand, email, or other electronic delivery method. Notification is effective when posted, sent, or transmitted by Visa to the Member or its Agent.

Balance Inquiry Service

an ATM service that allows a Cardholder to check an account balance.