Jargon within the payments industry can be extremely confusing. Have you ever stumbled through a document that mentions ACH, EMV, CVC and MICR all in the same paragraph? We know the payments industry isn’t the friendliest of authors and, while we can’t make all of the financial institutions, processors and authorizers out there toe the line on a new, friendlier way of speaking, we can give you the tools to speak their language.
Have you ever stumbled through a payments industry document? Jargon and abbreviations can be extremely confusing. We know the payments industry isn’t the easiest to understand, but we can give you the tools to speak their language.
A
ACH: Automated Clearing House. A regional organization used by member banks to electronically transfer funds between members.
AMEX: Abbreviation for American Express®, an organization that issues travel and entertainment cards and acquires transactions. (more…)