Glossary
What do the technical terms mean
Search by Alphabet
Search here for your desired search term
Payment does not have to be complicated. However, there are technical terms that are often not common.
Can we help you
In the upper search bar you can choose between two search options. The search by category and the search by alphabet. Just click on the navigation button above the selection. If you need further information, please contact us. We look forward to hearing from you.
You have not found an entry
Then do not hesitate and contact us. We make every effort to answer all questions as quickly as possible and to keep our glossary up to date in order to provide you with the greatest possible amount of information.
Dealer Acceptance Agreement
The merchant acceptance contract, also called merchant contract, is concluded between the merchant (merchant) and the acquirer.
Four-party system
There are usually four parties involved in the credit card business. The card issuer, the cardholder, the merchant bank (acquirer) and the card acceptor (merchant). The card issuer receives an annual fee and a transaction fee (interchange). The cardholder can simply pay and, depending on the contract, has the option of paying his credit card bill only at the end of the month. The merchant raises its rates for the fees and the merchant bank gets the discount.
MasterCard and Visa
For the credit card customer, it is important that his card is also accepted by merchants and ATMs. The acquirer concludes a contract with the merchant on the acceptance of his card. The most widespread are the globally operating companies MasterCard and Visa. In the United States of America acceptance rate of these cards is the highest.