Merchant Services Terms Beginning with D
Data Capture: Data capture is a broad term that defines any type of information, in any form, that is transmitted through and stored in computers according to specific input fields.
Debit Card: Debit cards have the same form factor and magnetic stripe as credit cards, but are linked to a designated bank account.
Debit Networks: The electronic devices, pathways and terminals that enable debit card transactions.
Deposit Account: A deposit account is any amount of money put into a bank or other financial institution that is set up to remain in the institution for a fixed period of time.
Direct Debit: Direct debit, also referred to as direct withdrawal, electronic checks, and direct payments is a type of payment system that allows businesses to debit funds directly from customers’ bank accounts.
Direct Mail Merchant: A Direct Mail Merchant is a merchant that submits actual sales drafts for payment through the mail for their eventual payment or settlement. They are sometimes referred to as a “paper merchant.”
Direct Marketing: Direct Marketing is a scenario in which a merchant solicits business to individuals who or businesses that did not request this solicitous contact.
Discount Rate: A fee taken by the bank as a percentage of all sales transactions. If the discount rate is 2.50%, for example, the discount rate fee is $2.50 for a $100.00 charge. There different discount rates for each transaction type: Qualified, Mid-Qualified and Non-Qualified. Mid-Qualified is higher than Qualified and Non-Qualified is higher than Mid-Qualified.
Discover Card: Discover Card is one a small group of a major credit cards that is largely issued in the United States. The credit card was initially introduced to the public by The Sears, Roebuck and Company in the mid-1980’s.
Doing Business As (DBA): The DBA is the name the public sees, whether on a physical storefront or on the web. If the merchant has another business, then we would need a separate application for both.
Downgrades: Downgrades are rates changes that occur when merchants do not meet major credit card company requirements for a credit card sales transaction.
