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Glossary of Industry Terms

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                                           PCI Related Terms Technical Terms

UDP

(PCI) (Technical) See User datagram protocol.

Unbundled Fees

Other fees paid by the merchant to the merchant bank or other contracted party for transaction processing. Bundled groups interchange categories associated with transactions into groups, unbundled keeps them distinct. Interchange pass-through processing is an example of unbundled pricing.
 

Uniform Commercial Code

A set of business-related laws dealing with the sale of goods, their transportation and delivery, financing, storage, payments, and various other commercial transactions. These model laws have been adopted, with minor modifications, by most states to provide some consistency among states\' commercial laws. They were drafted by the National Conference of Commissioners on Uniform State Laws.
 

Uniform Commercial Code Article 4A

Uniform Commercial Code (UCC) is a comprehensive body of state law governing commercial transactions. Article 4A covers certain funds transfers, including ACH credit transactions not subject to the Electronic Funds Transfer Act.
 

Unique Transactions

Payment card sales transactions in which merchants adhere to card acceptance procedures that may be different from ones required of regular payment card sales transactions.
 

Universal Standard Product and Service Classification Code

A Global commodity standard – 10 digit, hierarchical code used to consistently classify products and services.
 

Unsecured credit

Credit extended without collateral and without the borrower attaching specific assets in the event of default.
 

Unsettled Transactions

Captured transactions that are awaiting settlement.
 

USA PATRIOT Act

 An omnibus bill passed in the aftermath of Sept. 11, 2001, the Patriot Act has consequences for most businesses. In the merchant acquiring business the implications arise primarily from the potential for money laundering and related terrorist activities. Officially, the law is known as the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terror Act.
 

User Authentication

Process of validating that a user is who the user represents himself/herself as.
 

User datagram protocol

(PCI) (Technical)
A communication protocol, such as TCP/IP, in which data is transmitted between two applications which does not

User ID

(PCI) See User Name.

User Name

(PCI)
A character string used to uniquely identify each user of a system.
The identity of the person authorized to log on to the system. UserID is normally an internal identification, where user name is normally the external represention. Organizations differ on naming conventions.
 
 

UserName

(PCI) See User Name.

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Not only did PE Systems find that we were being overcharged, they pointed out very simple changes that we could do, that would keep us at the lower rates.
Clatsop Community College

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Clatsop Community College
1653 Jerome Avenue
Astoria, OR 97103-3698

To Whom It May Concern:

For years we suspected that we were being overcharged by our credit card processor. However, no one here had the time or knowledge to get at the details behind our monthly processor charges. PE Systems Inc. stepped in and found the information for us. They then negotiated with our processor to get us the lowest rates possible. Additionally, they got the credit card processor to refund some of the overcharges. Not only did PE Systems find that we were being overcharged, they pointed out very simple changes that we could do, that would keep us at the lower rates.

I strongly recommend the services of PE Systems Inc. if you wish to be assured that you are receiving the best credit card processing rates possible for your business.

Sincerely,
...






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