Credit Card Statement Abbreviations

Published: 27th April 2010
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This list will explain the meaning of the abbreviations on the credit card processing billing sheet of the monthly charges for processing credit cards. At first glance, the customer print out may be difficult to understand. Take a time to study the layout of the statement. Each merchant services provider has an assorted format for the monthly statement. Look at the sections first and then look at the columns. The columns usually list things currency volume, number of transactions, individual purchase fees, discounts percentage and discount paid.

Here is a list of the meaning of abbreviations and meaning of some of the words found on the credit card processing print out.

Meaning of Abbreviations on Merchant Services Statement

* ADJ = adjustment

* AMEX = American Express

* AUTH = authorizations, and is usually related with dealings fees

* AVG TKT = average ticket

* AVS = address verification system, and is a dealings gift surcharge.

* BTCH HDR = batch header. Most processors calculate a small dealings gift for each batch

* CHG = charge

* CHGB = chargeback

* CNP = bankcard not present

* DISC = discount, which is the discount evaluate or percentage evaluate being charged

* DSCV= = Discover

* "MC" effectuation MasterCard

* "NABU" is MasterCard's dealings fee

* "PCI COMP" effectuation commercialism bill industry compliance. This is an annual fee

* "POS"= location of sale

* QUAL = qualified. The evidence might list the eligible rate, mid-qualified rate, and non-qualified rate

* REF NO = reference number and is assigned to each batch

* STMT FEE= billing fee

* TRANS= transaction

* VS= Visa

* WAT =is a type of dealings fee

Description of Types of Cards

Here are some examples of the types of abbreviations found on the credit card processing print out that are used to describe the assorted credit bill types in the market:

* COMM CNP = commercial, bill not present

* Rewards 2=is a type of credit bill with a rewards program and is charged a mid-qualified rate

* CORPDATA is a corporate credit bill that falls into the non-qualified percentage category

* EIRF=is a type of non-qualified card

* DB or DBT= debit

* ENH MER 3= enhanced merit 3

* MCW= MasterCard World Card

Merchants and business owners should be open to getting quotes from other merchant services companies, as the rates go up twice a year. The merchant services industry is very competitive, so merchants should have a firm sense of understanding of the rates and fees related with accepting credit cards.

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