Term
| Automated Clearing House (ACH) |
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Definition
| One of several systems set up by banks or government agencies, such as the US. Federal Reserve Board, that process high volumes of low dollar amount electronic fund transfers. |
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Term
| Anonymous electronic cash |
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Definition
| Electronic cash that connot be traced back to the person who spent it. |
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Term
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Definition
| A card with no preset spending limit. The entire amount charge to the card must be paid in full each month. |
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Definition
| The process in which a merchant bank retrieves the money it placed in a merchant account as a result of a cardholder successfully contesting a charge. |
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Definition
| A U.S. Law that pemits banks to replace the physcial movement of checks with transmission of scanned images. |
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Term
| Client-Side electronic wallet |
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Definition
| an electronic wallet that stores a consumer's information on the consumer's own computer |
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Definition
| a payment card arrangement involving a consumer, a merchant, and a payment card company that processes transaction between the consumer and merchant without involving banks. |
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Definition
| a payment card that has a spending limit based on the cardholder's credit limit. A minimum monthly payment must be made against the balance on the card, and interest is charged on the unpaid balance. |
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Definition
| member-run organizations that issue credit cards to individual consumers. Also called customer issuing banks. |
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Definition
| a payment card that remove the amount of the charge from the cardholder's bank account and transfers it to the seller's bank account. |
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Definition
| the spending of the same unit of electronic cash twice by submitting the same electronic currency to two different vendors. |
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Definition
| a form of electronic payment that is anonymous and can be spent only once. |
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Term
| electronic wallet (e-wallet) |
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Definition
| a software utility that hold electronic cash, credit card information, owner identification and address information, and provides the data automatically at electronic commerce sites. |
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Term
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Definition
| A criminal act in which the perprator gathers personal information about a victim and then uses that information to obtain credit in the victim's name. After establishing credit accounts, the perpetrator runs up charges on the accounts and then disappears. |
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Term
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Definition
| an account that a merchant must hold with a bank that allos the merchant to process payment card transactions. |
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Definition
| internet payments for items costing very little---usually $1 or less. |
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Definition
| a technique used by criminals to convert money that they have obtained illegally into cash that they can spend without having it identified as the proceeds of an illegal activity. |
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Term
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Definition
| A payment card arrangement involving a consumer and his or her bank, a merchant and its bank, and a third party (such as Visa or MasterCard) that processes transactions between the consumer and merchant. |
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Term
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Definition
| A general term for plastic cards used instead of cash to make purchases, including credit cards, debit cards, and charge cards. |
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Definition
| the use of a zombie farm, oten by an organized crime association to, launch a massive phishing attack. |
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Term
| Server-Side Electronic Wallet |
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Definition
| An electronic wallet that stors a customer's information on a remote server that belongs to a particular metchant or to the wallet's publisher. |
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Term
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Definition
| A plastic card with an embedded microchip that contains information about the card owner. |
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Term
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Definition
| Either an elaborate smart card or a simple plastic card with a magnetic strip that records currency balance, such as a prepaid phone, copy, subway, bus card. |
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