C

Capture. It is an action in which an electronic credit card sale transaction is submitted for financial settlement.

Cardholder. A person who holds a payment card account (bankcard or otherwise)and uses a credit card to purchase goods or services.

Card Not Present. A type of transaction where the card is not present at the time of the transaction (mail order or telephone order). Credit card data is manually entered into the terminal instead of swiping card through the terminal.

Chargeback. A type of credit card transaction that is billed back to the merchant after the sale has been settled. Chargeback initiates credit card issuer on behalf of the cardholder. Typical chargeback reason is product delivery failure or product/service dissatisfaction.

Clearing. It is a process of financial transaction details exchange between an acquirer and an issuer.

Code 10 Authorization. It is a type of code merchant asks by calling voice authorization phone number. Tis code can be called at the time of the transaction if you suspect a card is fraudulent. The voice operator will instruct the merchant on how to proceed.

CVC2 / CVV2 (Card Validation Code 2 / Card Verification Value 2). It is a VISA and MasterCard security feature a three digit numbers printed on the back side of the card. This code is used to validate that cardholder has the card in his possesion, and the account is legal.