Merchant Services Terms Beginning with B

Bankruptcy Notification Service – The Bankruptcy Notification Service is a joint effort of the two major worldwide credit card companies (MasterCard and Visa) to log, track and assess bankruptcy filings and related items.

Basis Points: A “basis point” is 1/100th of a percentage point.

Batch Processing: This occurs when a merchant transmits the “batch” of daily sales for processing. An “open” Batch is one that is not yet “closed.” Batching generally occurs at least once per day.

Business Financials: Business Financials are essentially documents for which merchants compile information that describe, in detail, their operation in terms of financial transactions.