Merchant Account Glossary - T
Tellan Software
This is software that works using land phone lines rather the internet. It works like any regular credit card terminal in how it processes. The program works with any PC or Macintosh computer via PCAuthorize and MacAuthorize.
Terminal Identification Number (TID)
The Terminal Identification Number identifies specific serial-numbered pieces of equipment.
Test Transaction
After downloading a fresh terminal or changing it in some way a test transaction should be done by the merchant to make sure that the terminal is ready to accept a credit card. The following points should be remembered when asking the merchant to complete the test transaction:
- A test transaction should never exceed the amount of $0.10.
- Make sure that the merchant voids the transaction immediately after it has been completed or at least before they batch out. It must be voided not to be confused with credited.
- A test transaction is the only time when a merchant is permitted to use their own credit card in their own terminal. The merchant should definitely be advised of this condition.
Trade Reference
Trade references are the businesses that extend credit or have business relationships with an applicant. These are needed to see if an applicant makes bill payments in a timely manner and also purchases goods and services from outside sources. Ballistic Merchant Services requests Trade References from all of our MOTO merchant accounts.
Tranz
See "VeriFone"
Travel and Entertainment (T&E)
This is the term is used when referring to cards like American Express credit cards (Amex) or Diners Club cards. The difference between this type of program and a pure credit card program is that the card holder would normally pay them off every month. Discover card is commonly considered to be a T&E card type but technically it is not.
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