| Receipt - When used in the context of credit | | | | goods rather than services, whilst operating |
| card receipt means a document that provides a | | | | in the consumer retail sector, and processing |
| record of a transaction that took place at a | | | | card present, as a pose to card not present |
| point of sale, and may also refer to a | | | | transactions. |
| printable copy for a card not present | | | | |
| transaction. This will include transactional | | | | Sales Draft - A hard copy that offers |
| details, details of the buyer. The date, | | | | evidence that goods/services were purchased |
| amount and a reference number will also be | | | | by the cardholder. |
| present. | | | | |
| | | | Secured Credit Cards - Secured credit cards |
| Recurring Bill - This refers to a transaction | | | | are credit cards where by a persons or |
| where by the merchant is granted permission | | | | businesses assets are directly transferable |
| by the card holder, to periodically charge | | | | should they fail to honour payment schedules |
| their credit card or debit card for service | | | | that are put in place. This is generally |
| or goods that they will render on a monthly | | | | where a person has a poor credit history or |
| or perhaps a yearly basis. | | | | fail to pass a credit check or pose too much |
| | | | of a risk to a financial organization to be |
| Reference Number - This is a number that is | | | | given credit terms. Assets can be in the form |
| assigned to every transaction for the purpose | | | | of shares in a business, a home or a car for |
| of being identifiable to the buyer, the | | | | example. |
| merchant bank, the merchant and potentially | | | | |
| other stakeholders that are party to the | | | | Service Charge - This is charge that can be a |
| transaction. This will be printed in a | | | | component of financial organizations pricing. |
| monthly statement, allowing a credit card | | | | This is generally a fixed one-time fee rather |
| holder to easily distinguish between | | | | than a yearly or monthly cost. Many argue |
| transactions should they wish to, or have | | | | that a service charge can result in lower |
| cause to raise issues. | | | | costs in the long-term, because you are not |
| | | | asked to burden this cost accumulatively |
| Refund - When a credit card or debit card | | | | |
| holder has funds credited to their account, | | | | Settlement - Settlement, when used in the |
| which can be a result of an error, a return | | | | context of credit cards, refers to the |
| or any other factor that results in their | | | | activity of buying and selling, that occurs |
| account being credited to provide a return to | | | | within the market place for transactions with |
| status quo. | | | | credit cards. Acquirers, merchants, |
| | | | card-issuing companies and processors all |
| Retail Merchant - A merchant that provides | | | | play a role. |