|   FAQs   |   CONTACT   |   CAREERS   |   Log In   |

Glossary of Industry Terms

A • B • C • D • E • F • G • H • I • J • K • L • M • N • O • P • Q • R • S • T • U • V • W • X • Y • Z


Include special terms? Include Show selected special terms only
                                           PCI Related Terms Technical Terms

Offline Debit Card

These cards usually look like a credit card and resemble a credit card transaction. The merchant\'s terminal reads your card, identifies it as a debit rather than a credit card, and creates a debit against your bank account. However, instead of debiting your account immediately, it stores the debit for processing later -- usually within 2-3 days.
 

Offline Transaction Processing

A class or series of systems – which may or may not be linked to one another – that facilitate exchange, transaction applications and actions amongst banking institutions, merchant services providers, consumers and other related entities.
 

Online Debit Card

These cards usually are enhanced ATM (automated teller machine) cards that work the same as they would in an ATM transaction.
 

Online Financial Transaction

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

Online Storefront

A commerce-enabled Web site available on a public network, such as the Internet, that offers goods and services for sale. An online storefront is the equivalent of a store or place of business that a customer would visit to purchase goods and services.
 

Open To Buy Amount

The amount of available credit on a cardholders credit card account.
 

Open Web Application Security Project

An open project that support internet based security practices for developers.
 

Operating Account

The deposit account established and maintained by the Sales Analyst at an ACH receiving depository institution for the purpose of debiting and crediting the Sales Agent for all amounts due to the Sales Agent in commissions.
 

Operating Procedures

The then-current manual prepared by Processor, containing operational procedures, instructions and other directives relating to Card transactions. The current Operating Procedures are set forth in the Program Guide.
 

Operator

A central facility that distributes and settles ACH transactions electronically.
 

Order Number

A 17 character alphanumeric field that may be used between the Cardholder and the Merchant for accounting or tracking purposes.
 

Original Draft

The original copy of the sales draft and signature for a transaction.
 

Original Transaction ID

The transaction ID used to process a secondary transaction like delayed capture, credit, or void.
 

Originating Depository Financial Institution

The financial institution that sends ACH transactions through the ACH network on behalf of customers.
 

Originator

A third party business that enters transactions into the ACH network on behalf of a customer.
 

Over Limit

This refers to a cardholder\'s account that has surpassed its credit limit with a transaction. (Their outstanding balance is beyond their credit limit.)
 

Over the Counter

Over the counter – or OTC – refers to a merchant and a respective merchant bank account that a business owner has in which actual credit card sales drafts are submitted to their local bank for payment.
 

Overhead

Business expenses—such as property taxes, utilities, and insurance—that are not directly connected to the goods or services you produce.
 

A • B • C • D • E • F • G • H • I • J • K • L • M • N • O • P • Q • R • S • T • U • V • W • X • Y • Z

PE Systems has analyzed approximately $270,462,947,108.07 in revenue for our clients (over a quarter of a trillion dollars and counting).
Contact us today and let our patented and proprietary analytics find savings for you too!
or click below to send an email to us at: information@pesystemscorp.com
 
They also made recommendations on ways to reduce our processing costs by utilizing new technology and taking advantage of processing steps that were being overlooked.
Regent University

Click the icon below to view an image of the letter.
Click to see Reference Letter
Regent University
1000 Regent University Drive
Virginia Beach, VA  23464-9800
 
To Whom It May Concern:
 
This letter is in regards to our experience with PE Systems Corporation.  We contracted with PE Systems to look into the fees that we were paying to accept credit cards.  When we checked their references we received positive feedback from those who had engaged them in the past.  Since there was no cost to the university if they didn’t find a way to save money, we believed the review by an outside organization with experience in the credit card industry would be worthwhile and hopefully result in lower fees.
 
We were quite interested and honestly surprised by the information that they returned to us.  PE Systems did find savings for us after a thorough review of our processing arrangements and through negotiations with our card processing bank.  They also made recommendations on ways to reduce our processing costs by utilizing new technology and taking advantage of processing steps that were being overlooked.  PE Systems has worked efficiently and promptly to get these issues addressed for our organization.
 
I have been very pleased by the service offered and the job done by PE Systems and I have no reservations in recommending their service to others.
 
Sincerely,
 
 
 
Director of Business Services & Controller






   © 2009 PE Systems   |    Privacy Policy   |    Site Map   |
Click to learn about the Electronic Transactions Association.     Click to verify BBB accreditation and to see a BBB report.