Glossary
Credit Note
The document prepared by the member merchant and signed by the authorized staff of the member merchant in the event that the goods or service purchased by using card are returned or the relevant transactions is cancelled.
Debit Card
The debit card is directly connected to the deposit account of the card holder. Debit card is given to the bank customers to enable them to buy goods and service, withdraw cash money and use other banking services from the Automatic Teller Machines (ATM) and Point of Sales Terminals (POS) by accessing their deposit accounts through the PIN code.
Imprinter
The mechanical device used by the merchant at the time of accepting a credit card. It copies the embossed information on the front face of the credit card to the sales note.
Issuer
The banks and other institutions that issue cards to the customers based on their licenses.
Card Holder
The person who is given a card under the agreement made with bank and the authorized issuer institution.
Card System Institution
The institutions that establish credit card or debit card system and give authorization for member merchant agreements in relation to issuing and accepting cards according to this system.
Credit Card
The payment tool given by the banks and issuer institutions to their customers with the credits opened within certain limits to enable them to buy goods and service without using cash money and to withdraw cash credit.
Cash Payment Draft
Document signed by the card holder for the cash payments made to the credit card holder.
Automatic Teller Machines (ATM)
Electronic devices that enable the card holders to access their deposit accounts and credit card accounts and to use the banking services through their debit and credit cards using their PIN code.
POS Device
The electronic device used by the merchants at the time of accepting credit/debit cards. This device electronically reads the magnetic stripe information on the rear face of the card and completes the transaction with electronic authorization.
Provision (Authorization)
The operation carried out electronically and/or by phone in order to establish whether the card limit is available and if the card has been reported as lost-stolen. In the transactions made through the imprinter, the merchant calls the bank's credit cards provision service and gives the card number and demands approval for the transaction. As to the POS and ATM devices, the card is inserted into the device, thus the provision is received on-line.
Sales Draft
The document prepared by the member merchant in relation to the card transactions which indicates the debt of the card holder arising from the transaction and the other information and which is signed by the card holder.
PIN code
Personal code consisting of numbers that is used to verify the identity of the individual trying to access an account.
Member Merchant
The natural or legal person who accept to sell goods and service to the debit or credit card holder under an agreement.
Acquirer
The banks and other institutions which make agreement with the merchants for the purpose of ensuring card acceptance.
