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  2. Interchange fee - Wikipedia

    en.wikipedia.org/wiki/Interchange_fee

    Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card-based transactions. Usually for sales/services transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank"). In a credit card or debit card transaction, the card ...

  3. Payment card interchange fee and merchant discount antitrust ...

    en.wikipedia.org/wiki/Payment_Card_Interchange...

    The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit was filed because of price fixing and other allegedly anti-competitive trade ...

  4. EFTPOS - Wikipedia

    en.wikipedia.org/wiki/EFTPOS

    EFTPOS. Electronic Funds Transfer at Point Of Sale, abbreviated as EFTPOS; ( / ˈɛf ( t) pɒs /) is the technical term referring to a type of payment transaction where electronic funds transfers ( EFT) are processed at a point of sale ( POS) system or payment terminal usually via payment methods such as payment cards ( debit cards, credit ...

  5. What Is a Billing Zip Code? How To Find Yours for Your Credit ...

    www.aol.com/finance/billing-zip-code-yours...

    123 Example Street. Beverly Hills, California 90210. Your billing zip code, or credit card postal code, is the five-digit number on the bottom right, which in this sample is 90210. This would be ...

  6. Merchant category code - Wikipedia

    en.wikipedia.org/wiki/Merchant_category_code

    MCCs are assigned either by merchant type (e.g., one for hotels, one for office supply stores, etc.) or by merchant name (e.g., 3000 for United Airlines [1]) and is assigned to a merchant by a credit card company when the business first starts accepting that card as a form of payment. [2]

  7. Credit card issuers push back on $8 late fee cap with new ...

    www.aol.com/credit-card-issuers-push-back...

    The CFPB made a proposal back in February 2023 to effectively cap credit card late fees at $8 and then issued a final rule in March on an $8 fee, which bankers said was lower than many expected it ...

  8. Credit card companies adjust merchant fees. Consumers ... - AOL

    www.aol.com/news/credit-card-companies-adjust...

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  9. Authorization hold - Wikipedia

    en.wikipedia.org/wiki/Authorization_hold

    Authorization hold (also card authorization, preauthorization, or preauth) is a service offered by credit and debit card providers whereby the provider puts a hold of the amount approved by the cardholder, reducing the balance of available funds until the merchant clears the transaction (also called settlement), after the transaction is completed or aborted, or because the hold expires.

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