Payments Acronyms Flashcards
Aid in the learning of acronyms commonly used in the payment industry.
MID
Merchant ID
“MID” is used in reference to the physical #, as well as the department in which the account is associated.
PCI DSS
Payment Card Industry Data Security Standards
SAQ
self-assessment questionnaire
AOC
attestation of compliance
TPSP
third party service provider
QIR
qualified integrator and reseller
DBA
“doing business as”
VAR sheet
A VAR sheet is a file that contains key information about a business, which is used for payment processing. A VAR sheet helps support communication between a business’s payment gateway and their merchant account.
A VAR sheet is sometimes needed for a TPSP to connect with a gateway.
TID
terminal ID number: an eight-digit alphanumeric code utilized by financial institutions to track and identify the terminal used for processing a transaction.
P2PE
point-to-point-encryption
Credit card number is immediately tokenized; no sensitive card data is stored.
SIC/MCC
Standard Industrial Classification / merchant category code
(commonly used education: 8220)
EVM
EMV is short for Europay, Mastercard and Visa: the three companies that created the EMV standard. EMV cards store cardholder information on a metallic chip instead of in a magnetic stripe. These chips can only be authenticated by special readers, making them more secure than stripe-only cards.
“out of scope” for PCI
Off the network.
Out-of-scope systems have no access to the cardholder data environment or any of its networks or components.
CDE
cardholder data environment
SAD
Sensitive authentication data (SAD) is used by the issuer of a card to authenticate the card and the cardholder, specifically the card verification code and the PIN/PIN block
