Glossary of Payment Technology Terms

ADVANCED EXCHANGEThe depot will “advance” ship a replacement product to the end-user location and the broken piece of equipment will be placed into that packaging and returned to the depot for repair. Also referred to as “Spare in the Air.”
AFTER RECEIPT EXCHANGEThe end-user returns the damaged equipment to the depot facility, then a replacement is shipped to the end-user
ASSET MANAGEMENT
A depot service facility will manage a pool of equipment, notifying end-user when additional equipment is needed, inventory counts, etc.
AUTO IDAuto identification (also called AIDC – auto identification and data capture), is a method of identifying objects and collecting data on those objects
BOLBill of Lading, a document signed by a carrier (a transporter of goods) or the carrier’s representative and issued to a consignor (the shipper of goods) that evidences the receipt of goods for shipment to a specified designation and person.
BREAK FIXA term used to indicate repairs will be made to broken equipment
CRYPTOGRAPHYA mathematical formula to render plaintext data unreadable to people without special knowledge (called a “key”). Cryptography is applied to stored data as well as data transmitted over a network.
DECRYPTIONChanges cipher text back to plain text.
DEPOTA type of repair where non-critical equipment is sent to a central location “depot” for repair
EMVEuropay, MasterCard and Visa is a global standard created by Europay for operation of integrated circuit cards and IC card capable point of sale (POS) terminals and automated teller machines (ATMs) for authenticating credit and debit card transactions.
ENCRYPTIONChanges plain text into cipher text
END-TO-END ENCRYPTION E2EE encrypts clear data at the source with knowledge of the intended recipient, allowing the encrypted data to travel safely through vulnerable networks to its recipient where is can be decrypted
ESOEncryption Service Organization
FIFOFirst In First Out
IMACInstallations, Moves, Additions, Changes
GOLD IMAGEA master copy of information/operating system/applications/imaging/etc. that is to be used to download the information to a device (thin clients, PC, scanner, etc.)
INTEGRATIONThe combining of 2 more items (hardware, software, firmware, etc.) into a combined end product
ISOIndependent Service Organization
ITInformation Technology
JITJust In Time
KEY ENCRYPTIONA set of numbers and alpha characters used to encode a payment device to provide security of customer data
KEY INJECTIONA secure method of inserting the encryption key into a payment device
MANAGED REFRESHA service in which updates (be it hardware, firmware or software) are performed on existing equipment
MIDMerchant Identification
MULTI-VENDORIndicates the ability to manage and/or repair several different manufacturers equipment
NFCNear Field Communications allows for simplified transactions, data exchange and connections with a touch or scan. Many smart phones now have applications allowing them to become a NFC device.
OEMOriginal Equipment Manufacturer
ON-SITE SERVICESRepairs to equipment are made at the customer’s designated location
PAWSPOSDATA Application Web Service (online portal)
PCI SSCPayment Card Industry Security Standards Council was launched in September of 2006 to manage the ongoing evolution of the payment card industry with focus on improving payment account security throughout the transaction process.
PCI DSSPayment Card Industry Data Security Standard is a set of requirements designed to ensure the ALL companies that process, store or transmit credit card information maintain a secure environment. Essentially any merchant that has a Merchant ID (MID)
PER INCIDENTA repair to be charged per piece of equipment
PINPersonal Identification Number is used to verify an identity. It is a secret number that an individual uses to access their bank accounts.
PKIPublic Key Infrastructure is a set of hardware, software, people, policies, and procedures needed to create, manage, distribute, use, store, and revoke digital certificates. In cryptography, a PKI is an arrangement that binds public keys with respective user identities by means of a certificate authority. The user identity must be unique within each CA domain.
POOLExtra equipment stored at a depot facility to be used by the end-user for various types of depot service agreements, i.e., Advance Exchange
POOL MANAGEMENTA depot service facility will manage a pool of equipment, notifying end-user when additional equipment is needed, inventory counts, etc.
POSPoint of Sale
RAReturn Authorization
REPAIR & RETURNA type of repair by which a repair is made at a depot facility then returned to the location from which it arrived.
RETURN RECEIPTWhen a request is made for proof of delivery, or receipt
REVERSE LOGISTICSReverse Logistics are the operations related to the reuse of products and materials. It is the process of planning, implementing, and controlling the efficient, cost-effective flow of raw materials, in-process inventory, finished goods and related information from the point of consumption to the point of origin for the purpose of recapturing value or proper disposal. More precisely, reverse logistics is the process of moving goods from their typical final destination for the purpose of capturing value, or proper disposal.
RMAReturn Materials Authorization
SIAService Industry Association
SIG CAPSignature Capture stores an electronic image of a signature with the transaction. This data can be archived and retried for proof of identity and provide a countermeasure should there be a transaction dispute.
SMART CARDIs a plastic card about the size of a credit card, with an embedded microchip that can be loaded with data, used for electronic cash payments, and other applications and then periodically refreshed for additional use. A smart card contains more information than a magnetic striped card and it can be programmed for different applications.
SPARE IN THE AIRThe depot will ship a replacement product to the end-user location and the broken piece of equipment will be placed into that packaging and returned to the depot for repair. Also referred to as “Advance Exchange.”
T&MTime & Materials, and is associated with the fee to be charged for a repair, the “time” to fix the unit and “materials” needed to facilitate that repair
T’S & C’STerms and Conditions of which a contract/agreement will be adhered.
TOKENIZATIONIs a process of replacing sensitive data with unique identification symbols that retain all of the essential information about the data without compromising its security. Tokenization seeks to minimize the amount of data a business needs to keep on hand and is becoming a popular way for businesses to bolster the security of credit card transactions while minimizing the cost and complexity of compliance with industry standards and government regulations.
WAREHOUSINGStorage of equipment or assets at a depot facility
WARRANTY MANAGEMENTA depot service facility will manage the return and repair of equipment to manufacturers during warranty period