Glossary
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Facsimile Draft: A paper record that may be provided by an acquirer as a substitute for the sales draft. A substitute document.
Factoring/Laundering: The coercion/bribery of a merchant to process another merchant's transactions (often fraudulent) for payment.
Fiber Optic Cable: A transmission medium composed of small strands of glass, providing a path for light rays that act as a carrier.
File Transfer: The copying of a file from one computer to another over a computer network.
File Transfer Protocol (FTP): A method of transferring files from one computer to another over the Internet.
Financial EDI: Electronic exchange of payments, payment information or financially related documents in standard formats between business partners.
Financial Institution: Any organization in the business of moving, investing or lending money, dealing in financial instruments, or providing financial services. Includes commercial banks, thrifts, federal and state savings banks, saving and loan associations, and credit unions.
Firewall: A specially programmed computer that connects a local network to the Internet and for security reasons only allows certain types of messages through.
Floor Limit: A dollar amount set by the acquirer in accordance with MasterCard and VISA rules and regulations. The merchant must obtain authorization for any transaction over the floor limit.
Folio: A lodging merchant's guest file that contains the cardholder's transaction information, including check-in and out dates, rate, intended length of stay at check-in time, applicable charges and taxes.
Force / Offline Transaction: The after-the-fact entry of a purchase resulting from a referral (“call Authorization Center”) message or a downtime interruption of service from a Network which enables the merchant to enter (as a force/post authorization) the transaction and the approval code into the EDC batch.
Frame Relay: An emerging network access protocol designed to accommodate data applications. It is characterized by four important features: 1.High transmission speeds; 2.Low network delay; 3.High connectivity; 4.Efficient bandwidth use
Franchise: An organization that grants a license to a group of merchants to market a company's goods or services in a particular territory, and wants to provide bankcard processing to its members from First Data.
Fulfillment: The acquirer's response to an issuer's retrieval request for a sales draft. The acquirer supplies the issuer with the original draft or a clear reproduction. The fulfillment record confirms the response and initiates reimbursement to the acquirer for fulfilling the request.
Full Service Processing (FSP): A relationship with a Bank whereby First Data provides a series of services on an outsourcing basis. First Data is paid fees for the services performed and does not hold the risk for Credit/Fraud losses.
Funding: Refers to the payment to a merchant for his submitted deposits.
Factoring/Laundering: The coercion/bribery of a merchant to process another merchant's transactions (often fraudulent) for payment.
Fiber Optic Cable: A transmission medium composed of small strands of glass, providing a path for light rays that act as a carrier.
File Transfer: The copying of a file from one computer to another over a computer network.
File Transfer Protocol (FTP): A method of transferring files from one computer to another over the Internet.
Financial EDI: Electronic exchange of payments, payment information or financially related documents in standard formats between business partners.
Financial Institution: Any organization in the business of moving, investing or lending money, dealing in financial instruments, or providing financial services. Includes commercial banks, thrifts, federal and state savings banks, saving and loan associations, and credit unions.
Firewall: A specially programmed computer that connects a local network to the Internet and for security reasons only allows certain types of messages through.
Floor Limit: A dollar amount set by the acquirer in accordance with MasterCard and VISA rules and regulations. The merchant must obtain authorization for any transaction over the floor limit.
Folio: A lodging merchant's guest file that contains the cardholder's transaction information, including check-in and out dates, rate, intended length of stay at check-in time, applicable charges and taxes.
Force / Offline Transaction: The after-the-fact entry of a purchase resulting from a referral (“call Authorization Center”) message or a downtime interruption of service from a Network which enables the merchant to enter (as a force/post authorization) the transaction and the approval code into the EDC batch.
Frame Relay: An emerging network access protocol designed to accommodate data applications. It is characterized by four important features: 1.High transmission speeds; 2.Low network delay; 3.High connectivity; 4.Efficient bandwidth use
Franchise: An organization that grants a license to a group of merchants to market a company's goods or services in a particular territory, and wants to provide bankcard processing to its members from First Data.
Fulfillment: The acquirer's response to an issuer's retrieval request for a sales draft. The acquirer supplies the issuer with the original draft or a clear reproduction. The fulfillment record confirms the response and initiates reimbursement to the acquirer for fulfilling the request.
Full Service Processing (FSP): A relationship with a Bank whereby First Data provides a series of services on an outsourcing basis. First Data is paid fees for the services performed and does not hold the risk for Credit/Fraud losses.
Funding: Refers to the payment to a merchant for his submitted deposits.
Funding Account: A non-specific account type in a STAR Transaction request when the Cardholder/Account Holder does not select the specific account against which the STAR Transaction is to be processed. Also referred to as “no account specified.”
Funding Correction: A payment made by First Data to a merchant to rectify an error made by First Data subsequent to clearing a merchant's bankcard deposit/transmission through the Associations and First Data receiving payment from the Associations for said bankcard deposit/transmission.
Funds Settlement Account: A Deposit Account maintained by a Processor or Member at a financial institution for purposes of Settlement of STAR Transactions.
Funds Settlement Day: Any weekday, except holidays observed by the Federal Reserve Bank of Atlanta (STAR Southeast Switch and STAR Central Switch), the Federal Reserve Bank of San Francisco (STAR West Switch) and the Federal Reserve Bank of Philadelphia (STAR Northeast Switch).
Funds Transfer System: A wire transfer network, ACH, or other communication system or clearing house or association of banks in which First Data's Clearing/Funding Bank is a member and through which a payment order by a bank may be transmitted. Includes: SWIFT, CHIPS, Fedwire, the National Association of Clearing House Associations, MasterCard and VISA.