Accept Credit Cards? 12 Acronyms You Need to Know – [Part 1 of 2]

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If you accept credit cards at your business, you’ve probably come across a lot of credit card acronyms that caused you to think, “WTH” or “SMH” (that’s what the heck and shaking my head if you’re not in-the-know). We thought we’d break it down for you to help you understand what those letters mean.

1. ACH is automatic clearing house – this credit card acronym is the ability for your business to accept checks or payments that require a bank account and routing numbers. ACH processes a large amount of credit and debit card transactions in batches.


2. API stands for application program interface. This is a set of rules that tells software programs how to communicate with each other.


3. EMV stands for Europay, Mastercard, and Visa. Heralded as three of the six credit card companies that paved the way for chip cards, these credit card brands created a standard for the way we now take payments in the United States. EMV can also refer to the smart-chip technology that offers additional measures for authentication beyond what was previously offered by magnetic stripe card transactions. Payline advises that any retail business that wants to accept credit cards do so with an EMV reader.


4. ETA is not when you’re planning on being home for dinner; this is the Electronic Transactions Association. The ETA is the international trade association that supports the payment processing industry through education and resources and by lobbying


5. FBH, or full balance hold, is what occurs if the processing bank decides that you do not meet certain requirements that allow you to accept credit cards. You are still able to process under a full balance hold, but your bank holds funds until you make corrections to things like your business’s terms and conditions, your phone number display on your site, your product page and pricing, and your secure checkout.


6. ISO is the independent sales organization. As a non-member bank, an ISO has a bank relationship with a bank that assists with acquiring or issuing functions, new customer acquisition, or customer service and support issues. Payline is an example of an ISO.

Talk to a Payment Expert

We’ll share the rest of our frequently heard credit card acronyms on Monday. If you think you have a handle on this information, don’t wait until next week to get started. Reach out to us today to learn more about Payline as your processor.

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