Sales Draft:
An actual paper documentation of a transaction.

Secure Server:
A Web server or other computer connected to the Internet that is capable of establishing encrypted communication with clients, generally using SSL or SET.

Security:
an internal department within the Credit/Risk Department that monitors the performance of the entire portfolio/merchant client base by monitoring suspect accounts and or transactions for possible fraudulent activity.

SET (secure electronic transaction):
A system for encrypting e-commerce transactions, such as online credit card purchases. Developed by Visa, MasterCard, Microsoft, and several major banks, SET combines 1,024-bit encryption with digital certificates to ensure security. SET is still in development.

Settlement:
The process by which transactions with authorization codes are sent to the processor for payment to the merchant.

Setup Fees:
Fees charged for establishing a merchant account, including application fees, software licensing fees, and equipment purchases.

Shopping Cart Program:
A software package that runs as part of a Web site to collect and record purchasing decisions by a visitor. Shopping cart programs are stored on Web servers.

S.I.C. Code:
Refers to Standard Industry Classification. These codes are four digits used to identify the business type.

Smart Card:
A plastic card containing a computer chip that can store electronic "money." Unlike a credit card, a smart card can only spend out the dollar amount its owner has already put into the card account. It's similar in function to a prepaid calling card but is available for all purchases.

Spam:
Unsolicited e-mail. There are two common usages: 1) mass e-mailings by commercial sites to recipients who have not requested any contact, and 2) e-mail sent to intentionally annoy or harass the recipient, including crashing his or her computer by overloading its e-mail capacity.

Spider:
A software application that automatically finds and retrieves information from the Web. Also called a "robot" or "crawler."

Split Dial:
The terminal dials direct to AMEX for authorization and settles at the VISA/MASTERCARD Host.

SSL (secure socket layer):
A system for encrypting data sent over the Internet, including e-commerce transactions and passwords. With SSL, client and server computers exchange public keys, allowing them to encode and decode their communication.

Starter Kit:
Supplies that are shipped to new merchants including sales drafts/slips, credit slips, batch header tickets, Visa/MasterCard decals, imprinter plates, terminal overlays and instruction guides.

Stored Value Card:
A pre-paid card that stores a monetary value from which the purchase amount is deducted after each transaction.

Suspect Transaction:
A transaction that occurs one day prior to or directly after an account number is listed in the Warning Bulletin or pick up list.

Swiped Card:
Credit card information that is read directly into the terminal as a result of swiping or sliding the credit card thru a card reader. The information magnetically encoded in the magnetic stripe is transmitted. This information includes secret data that helps validate the card.

Swipe Discount Rate:
The discount rate charged by a merchant account provider for transactions in which a credit card is swiped on the POS Equipment. It is also available for inspection by the merchant. Swipe discount rates are generally lower than MOTO discount rates because the merchant can match signatures and perform other checks for fraud or misuse.

Switch:
An electronic service that routes transaction information from the point of sale terminal to the authorization center for approval.