Consent Order:
Government mandate that allowed the provision of Interac
Services to be open to non-financial institutions
Acquirer: Transaction
Processing Service provider receiving transactions from
ABM and POS devices
Issuer: Financial
Institution who issues Interac®
cards to their account holders
Switch: computer
system processing transactions received from ABM and
POS devices
On Us: Transactions
from the Issuers cardholders (see Foreign)
Foreign: Transactions
from cardholders other than those of the Issuer (financial
institution). For example, other Interac Members, Cirrus,
etc.
White Label: non-financial
institution owned ABMs and POS devices, also known as
Private Label
Hot Card Flagging:
The ability to flag a card on an Issuer switch to prevent
it's current use for transaction authorization (lost,
stolen etc.)
Host Link: communications
between Switch and Issuer's computer system
IDP: Interac Direct
Payment also known as Point-of-Sale (POS)
ISO: Independent
Sales Organization - provides service to non-financial
institution locations to supply ABM or POS devices and
associated services
IVR: Interactive
Voice Response - computerized telephone information
service
MAC: Message Authentication
Code - used to verify message received without disruption
or tampering
POS: Point-of-Sale
also known as Interac Direct Payment (IDP)
Real-time Monitoring:
Service to detect switch and device errors and generate
alerts for service response
Stakeholder: an
investor or other party involved financially in the
placement of ABM or POS devices at locations
Stand-In: Service
where the switch provides the authorization or denial
of transactions when the Issuer's Host system is unable
to reply. Transactions processed in Stand-In mode are
stored & forwarded (S&F) to Issuer when Host Link is
active again.
Triple DES: Enhanced
Data Encryption Standard being implemented globally
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