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A B C   /   D E F G H I J K L M N O   /   P Q R S T U V W X Y Z   /   abbreviations

Debit Card   A payment card linked to a bank or building society account, used to pay for goods and services by debiting the holder's account, usually also combined with other facilities such as ATM and cheque guarantee functions.
Electronic Purse  

A stored-value payment card that holds value which can be exchanged for goods and services. It is an alternative to cash. The card can be disposable or re-loadable, but in each case the card's stored value is reduced as payments are made.

Electronic purses do not form part of the Chip and PIN Programme.

EMV   The internationally agreed standards for chip payment cards, originally agreed by MasterCard Europe and Visa. EMV standards are maintained by EMVCo, an organisation owned and managed by MasterCard and Visa.
EPOS   A general term applied to different types of computer used to support the sales process, from intelligent cash registers through to sophisticated computer networks.
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Fallback   A transaction that is verified by a method other than the optimum available on both the card and the device. In a maturing chip and PIN environment, fallback to signature, key entry or paper will be actively discouraged and will eventually disappear altogether.
Hot Card File   A computerised list of reported lost and stolen cards available to merchants to assist in the identification and prevention of fraudulent transactions.
Hybrid Card   A card that has both magnetic stripe and a chip.
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IAD   Independent ATM Deployer. A non-financial institution independent of a bank or building society that owns and places ATMs (cash machines) in retail premises.
Indent printed   Printed in such a way as to penetrate the plastic rather than just leave an image on the surface.
Integrated Circuit Card (ICC Card)   See chip card.
Loyalty Card   Cards issued typically by retailers to earn rewards or discounts.
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Magstripe   The magnetic stripe that currently appears on the back of all payment cards issued by financial institutions. It contains essential customer and account information, most of which is usually also embossed on the card.
Multi-Function Card   A card which fulfils two or more roles e.g. a credit or debit card also providing ATM and/or cheque guarantee functions.
National Rollout   A generic term to describe the upgrade/replacement of cards, Point-Of-Sale (PoS) terminals/equipment and ATMs to migrate card payments to a chip and PIN platform.
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Off-Line   An operating mode in which the electronic terminal does not connect to a central computer source. The purchase is authorised without checking with the Card Issuer or their agent. The transaction is later transferred to the processing system for payment.
On-Line   An operating mode in which the electronic terminal connects to a central computer to check cardholder and account details with the Card Issuer, or their agent, before authorising a payment. The transaction details are transferred automatically to the processing system, either immediately or later.
Online Debit Card   A debit card where every purchase is subject to electronic authorisation.
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