| Term | Definition |
|---|---|
|
AVS |
Address Verification System |
|
AXIS |
Elavon Merchant Services front-end Authorisation and Settlement Host |
|
Billing Currency |
The Cardholder account currency (currency in which the card was issued). |
|
BIN |
Bank Identification Number |
|
BIN Table |
The BIN table contains all the BINs for which DCC may be offered. For each BIN, there is a corresponding billing currency. |
|
CNP |
Card Not Present |
|
CVM |
Card Verification Method |
|
DCC |
Dynamic Currency Conversion. The conversion of the purchase price of goods or service from the customer’s pricing currency to the cardholder’s billing currency. The cardholder’s currency becomes the transaction currency, regardless of the customer’s pricing currency. |
|
DCC Rebate |
Rebate offered to merchants who process DCC transactions. It is calculated as a percentage of the local currency equivalent of the merchant’s total foreign currency trade. The typical rebate is between 0.75% and 1.0%. |
|
FX Rate/ Exchange Rate |
The foreign exchange rate that is used to convert the merchant currency into the Cardholder’s billing currency. |
|
HIMMS2 |
Highly Integrated Merchant Management System. This is the Elavon Boarding System – Primary Merchant Application entry point. |
|
Mark Up |
The percentage that is added to the reference exchange rate to arrive at the Exchange Rate. |
|
MOTO |
Mail Order/Telephone Order |
|
NFC |
Near Field Communication. It is the set of protocols that enable electronic devices to establish radio communication with each other by touching the devices, or bringing them into proximity of 10cm or less. |
|
Proximity Payment |
A payment conducted via contactless or NFC technology. |
|
PSP |
Payment Service Provider. A PSP offers online services for accepting electronic payments by a variety of payment methods including credit and debit cards. |
|
Reference Exchange Rate |
A wholesale or government-mandated rate to which the mark-up / commission is applied to arrive at the exchange rate that is used to convert one currency to another. |
|
Source of Reference Exchange Rate |
The name of the supplier of the wholesale rate (selected by Elavon) that is used to calculate the Exchange Rate. |
|
TID |
Terminal Identification number |
|
TMS |
Terminal Management System |
|
Transaction Amount |
The value and currency of the transaction that is cleared and settled. |
|
Online DCC |
This method includes a DCC online inquiry to Elavon’s host to check the DCC eligibility of a card BIN and returns back the live Exchange Rate. |
|
Device Based DCC |
This method checks the DCC eligibility of a Card BIN from a stored BIN file and requests daily Exchange Rates from Elavon’s host. |
|
POI Solution |
Point of Interaction Solution |
