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Authorization Hold
Authorization hold (also card authorization, preauthorization, or preauth) is a service offered by credit and debit card providers whereby the provider puts a hold of the amount approved by the cardholder, reducing the balance of available funds until the merchant clears the transaction (also called settlement), after the transaction is completed or aborted, or because the hold expires. In the case of debit cards, authorization holds can fall off the account, thus rendering the balance available again, anywhere from one to eight business days after the transaction date, depending on the bank's policy. In the case of credit cards, holds may last as long as thirty days, depending on the issuing bank. Transactions may be withdrawn but in most cases, especially with smaller banks, will not show up as a deposit on your statement but will instead be directly added to your available balance automatically due to it only being a “temporary charge”. The usual reason for authorization hold ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cash App
Cash App (formerly Square Cash) is a mobile payment service available in the United States and the United Kingdom that allows users to transfer money to one another (for a 1.5% fee for immediate transfer) using a mobile phone app. In September 2021, the service reported 70 million annual transacting users and US$1.8 billion in gross profit. History Cash App was launched by Block, Inc. (formerly Square, Inc. at its launch) in October 15, 2013 under the name "Square Cash". In March 2015, Square introduced Square Cash for businesses. This allowed individuals, organizations, and business owners to create a unique username to send and receive money, known as a ''$cashtag''. Since then, the $cashtag has become the most popular method for users to transfer money. In January 2018, Cash App added support for bitcoin trading. In October 2019, Cash App added support for stock trading to users in the United States. In November 2020, Square announced it was acquiring Credit Karma Tax, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Card
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges). The card issuer (usually a bank or credit union) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. There are two credit card groups: consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards (stainless steel, gold, palladium, titanium), and a few gemstone-encrusted metal cards. A regular credit card is different from a charge card, which requires the balance to be repaid in full each month or at the end of each statement cycle. In contrast, credit cards allow the consumers to build a continuing balance of debt, subject to interest being charged. A credit car ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debit Card
A debit card, also known as a check card or bank card is a payment card that can be used in place of cash to make purchases. The term '' plastic card'' includes the above and as an identity document. These are similar to a credit card, but unlike a credit card, the money for the purchase must be in the cardholder's bank account at the time of a purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase. Some debit cards carry a stored value with which a payment is made (prepaid card), but most relay a message to the cardholder's bank to withdraw funds from the cardholder's designated bank account. In some cases, the payment card number is assigned exclusively for use on the Internet and there is no physical card. This is referred to as a virtual card. In many countries, the use of debit cards has become so widespread they have overtaken checks in volume, or have entirely replaced them; in some instances, debit cards ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Settlement (finance)
Settlement is the "final step in the transfer of ownership involving the physical exchange of securities or payment". After settlement, the obligations of all the parties have been discharged and the transaction is considered complete. In the context of securities, settlement involves their delivery to the beneficiary, usually against ( in simultaneous exchange for) payment of money, to fulfill contractual obligations, such as those arising under securities trades. Nowadays, settlement typically takes place in a central securities depository. In the United States, the settlement date for marketable stocks is usually 2 business days or T+2 after the trade is executed, and for listed options and government securities it is usually 1 day after the execution. In Europe, settlement date has also been adopted as 2 business days after the trade is executed. As part of performance on the delivery obligations entailed by the trade, settlement involves the delivery of securities and the cor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Days
A business day means any day except any Saturday, any Sunday, or any day which is a legal holiday or any day on which banking institutions are authorized or required by law or other governmental action to close. The definition of a business day varies by region. It depends on the local workweek which is dictated by local customs, religions, and business operations. For example, in the United States and much of the Western world, they are typically Monday through Friday from 9a.m. to 5p.m. By contrast, for many eastern countries such as Japan, the normal business day is Monday through Friday from 8:30a.m. to 7p.m. The length of a business day varies by era, by region, by industry, and by company. Prevalent norms have included the 8-hour day and the 10-hour day, but various lengths, from 4 to 16 hours, have been normal in certain times and places. Business days are commonly used by couriers when determining the arrival date of a package. If a courier ships a parcel on a Thursday ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pay At The Pump
Pay at the pump is a system used at many filling stations, where customers can pay for their fuel by inserting a credit, debit card, or fuel card into a slot on the pump, bypassing the requirement to make the transaction with the station attendant or to walk away from one's vehicle. A few areas have gas stations that use electronic tolling transponders as a method of payment, such as Via Verde in Portugal. Pay at the pump was first invented in 1973 in Abilene, Texas, but did not take off until the 1980s. The system was introduced in 1982 in Europe, and Mobil claims to have been the first gas station to introduce pay at the pump in the United States in 1986. Only thirteen percent of convenience stores had the technology by 1994. Eighty percent of US convenience stores used it by 2002, and virtually all US stores do today. In 2004, Sheetz was the first to use touchscreen kiosks by the pump, where customers can also order in-store foodservice items that they pick up after fuel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unavailable Funds Fee
An unavailable funds fee is a penalty fee applied by a bank on a transaction account when a transaction is posted to an account that has ''negative available balance'' even though it has a ''positive physical balance''. The fee is distinct from a non-sufficient funds fee as there is a positive physical balance but some or all the funds are on hold meaning that the balance is not yet available. Bank fees such as the unavailable funds fee are contentious and have been the subject of some debate. Consumer advocacy groups have criticised them as opaque and unfair and that they particularly penalise the poor and fees do not reflect the banks' costs. The banks argue that it is a penalty not a transaction fee. These fees have become a major source of income for banks, replacing the traditional account and transaction fees which in many countries have disappeared. Overview The "unavailable funds" fee, not to be confused with the "non-sufficient funds" (NSF), "overdraft", "exceed hold ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Card Terminal
A payment terminal, also known as a point of sale (POS) terminal, credit card terminal, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly"), is a device which interfaces with payment cards to make electronic funds transfers. The terminal typically consists of a secure keypad (called a PINpad) for entering Personal identification number, PIN, a screen, a means of capturing information from payments cards and a network connection to access the payment network for authorization. A payment terminal allows a merchant to capture required credit card, credit and debit card information and to transmit this data to the merchant services provider or bank for authorization and finally, to transfer funds to the merchant. The terminal allows the merchant or their client to swipe, insert or hold a card near the device to capture the information. They are often connected to point of sale systems so that payment amounts and confirmation of payment can ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Acquiring Bank
An acquiring bank (also known simply as an acquirer) is a bank or financial institution that processes credit or debit card payments on behalf of a merchant. The acquirer allows merchants to accept credit card payments from the card-issuing banks within a card association, such as Visa, MasterCard, Discover, China UnionPay, American Express. The acquiring bank enters into a contract with a merchant and offers it a merchant account. This arrangement provides the merchant with a line of credit. Under the agreement, the acquiring bank exchanges funds with issuing banks on behalf of the merchant and pays the merchant for its daily payment-card activity's net balance — that is, gross sales minus reversals, interchange fees, and acquirer fees. Acquirer fees are an additional markup added to association interchange fees by the acquiring bank, and those fees vary at the acquirer's discretion. Risks The acquiring bank accepts the risk that the merchant will remain solvent. The main so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Card Security Code
The card security code is located on the back of Visa, Discover Card">Discover, Diners Club, and JCB credit or debit cards and is typically a separate group of three digits to the right of the signature strip file:CIDSampleAmex.png, On American Express cards, the card security code is a printed, not embossed, group of four digits on the front towards the right A card security code (CSC; also known as CVC, CVV, or #Naming, several other names) is a series of numbers that, in addition to the bank card number, is printed (not embossed) on a card. The CSC is used as a security feature for card not present transactions, where a personal identification number (PIN) cannot be manually entered by the cardholder (as they would during point-of-sale or card present transactions). It was instituted to reduce the incidence of credit card fraud. These codes are in slightly different places for different card issuers. The CSC for Visa, Mastercard, and Discover credit cards is a three-di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MSNBC
MSNBC (originally the Microsoft National Broadcasting Company) is an American news-based pay television cable channel. It is owned by NBCUniversala subsidiary of Comcast. Headquartered in New York City, it provides news coverage and political commentary. As of September 2018, approximately 87 million households in the United States (90.7 percent of pay television subscribers) were receiving MSNBC. In 2019, MSNBC ranked second among basic cable networks averaging 1.8 million viewers, behind rival Fox News, averaging 2.5 million viewers. MSNBC and its website were founded in 1996 under a partnership between Microsoft and General Electric's NBC unit, hence the network's naming. Microsoft divested itself of its stakes in the MSNBC channel in 2005 and its stakes in msnbc.com in July 2012. The general news site was rebranded as NBCNews.com, and a new msnbc.com was created as the online home of the cable channel. In the late summer of 2015, MSNBC revamped its programming by entering ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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