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B2B
Business to Business - refers to one business
communicating with or selling to another.
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Back-End Network
The settlement provider responsible for finalizing transactions, routing payment to a merchant's account and generating
statements.
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Balance Sheet
A financial statement that lists assets, liabilities and net worth as of a specific date.
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Bankcard
A card issued by a banking institution with a MasterCard or Visa brand.
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Batch
A group of approved credit card transactions, usually accumulated during one business day.
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Batch Deposit
The electronic depositing of a batch file transmitted to the transaction processor for settlement.
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Batch Processing
The authorization of transactions offline when immediate approval is not required. Transactions are collected in a
batch and sent as one transmission for authorization and/or settlement. Batch processing is generally used with
mail/telephone order transactions.
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Baud Rate
The speed at which a PC or terminal modem transmits data through the telephone line.
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BIN
Bank Identification Number - a unique
series of numbers assigned by Visa/MasterCard to a member institution, which identifies that institution in transaction
processing. The BIN comprises the first six digits of a standard credit card number.
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Bisynchronous Communication
A communication method that transmits continuously with no start and stop between the information bytes.
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Browser
A software application used to locate and display web pages.
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Business Card
A payment card typically issued to and used by owners of small businesses.
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