MINI GLOSSARY OF TERMS
| Acquiring or Merchant Bank | The bank that signs up a vendor to accept MasterCard |
|---|---|
|
Agency Program
Coordinator | The individual who
is responsible for maintaining agency
cardholder records (monthly statements and purchase documentation). |
| Cycle | A period of time ending on the same date each month. For example, cycle 10 ends on the evening of the 10th of each month. If the cycle dates occurs on a Saturday, Sunday, or a holiday, the period ends on the business day prior to the cycle date. |
| Issuing Bank | The bank issuing the Purchase Card to an organization. In the context of the P-Card product, JPMorgan Chase Bank is the issuer. |
|
Merchant Category Code
(MCC) | A standard code that the credit card industry maintains to categorize merchants. The Merchant Category Code (MCC) is similar to a Standard Industry Code (SIC), used for categorizing industrial business types. An acquiring bank assigns the code to a merchant. |
|
Merchant Category Code
Group (MCCG) |
A defined collection of Merchant Category Codes. MCC Groups are used to control whether or not cardholders can make purchases from particular types of merchants. |
| Point of Sale Code (POS) | A customer - defined code entered by the merchant at the time of sale that can be used to enhance accounting data. |
| Post Audit | The periodic review of cardholder records, to further determine the appropriate use of the card and maintenance of records. |
| Program Administrator | The individual at DAS/Procurement Services and OSC who is responsible for overseeing the P-Card program, and to whom problems and questions should be directed. |
| P-Card Pilot | The "learning" phase of the P-Card program for an agency. |
| Total System | Total System Services, Inc. is the company that processes P-Card authorization requests and posts cardholder transactions for JPMorgan Chase Bank. |
| Transaction | Each time the cardholder uses the P-Card, that counts as a transaction. |
| Transaction Limits | These limits are set on each individual card. If exceeded, the card will reject at the point of sale. |