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Merchant Account Glossary: Pin Pad

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A pin pad is a device that attaches to a merchant's terminal to accept a consumer's pin number. Not all terminals can accept a pin pad. Merchants should also know if their pin pad is PCI compliant. If it isn't, they could be fined by Visa / MasterCard. The pin number is the only security debit cardholders have to protect their account.

Other Glossary Terms:
  1. ABA Routing Number
  2. ACH (Automated Clearing House)
  3. Acquiring Bank
  4. Address Verification Service (AVS)
  5. Authorization
  6. Approval or Authorization Code
  7. Authorization Only
  8. Average Ticket Size (AVT)
  9. Batch Processing
  10. Bank Card
  11. Capture
  12. Card Issuer
  13. Card Present
  14. Cardholder
  15. Chargeback
  16. CVC2 (Card Validation Code 2) & CVV2 (Card Verification Value 2)
  17. Discount Rate
  18. Doing Business As (DBA)
  19. Downgrades
  20. Interchange
  21. Member Alert to Control High-Risk Merchants (MATCH)
  22. Payment Gateway
  23. Personal Identification Number (PIN)
  24. Pin Pads
  25. Point of Sale (POS) Terminal
  26. Settlement
  27. Void



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