Address Verification Service (AVS) - A fraud protection service offered by MasterCard and Visa that automatically checks the billing address supplied by the customer against the billing address on file with the credit card company. After review, AVS provides merchants with a return code indicating how well the addresses match, and it is up to the merchant to assess the risk and decide whether to authorize the purchase.

Batch - A collection of online transactions that are processed as a group, such as orders batched for authorization.

Card Authorization – This is simply the process of checking for sufficient or authorized funds in the cardholder's account.

Capture - The process of converting the total amount of an authorized transaction into a transaction that can be directly deposited into a merchant's account.

Chargebacks – A chargeback occurs when a customer disputes a transaction and their issuing bank or credit card company forcibly begins refunding the customer's funds.

Merchant Account – A merchant account is a type of bank account that allows online merchants to accept credit card payments directly on their website. The account serves as an agreement between the merchant, the bank that provides the merchant account, and Online payment system the payment processor to settle all credit card transactions accepted on the Website.

Third-Party Processors – For merchants who do not qualify or do not want a merchant account, a third-party processor is a company that processes payments (such as credit cards) on behalf of the merchant. With most third-party processors, customers are typically redirected from the merchant's website to the payment processor's website to complete the transaction.