Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Desposit
The deposit is a security deposit on the cleared sales.
The security retention
This security deposit is intended to ensure that these funds can be used in the event of chargebacks and refunds. Credit card security retention is usually not paid out for a period of six months and ranges from five to 15 percent of sales. It is also a protection against the fraud possibilities of a merchant or to be able to service penalties for violations of Visa/Mastercard regulations.
Visa/Mastercard Regulations
Penalties may be imposed if merchants or service providers that store, transmit, or process credit card transactions do not comply with these rules. They may also be restricted or ultimately prohibited from accepting credit cards altogether.