A device located in a retail location where cardholders can extract cash, make transfers and check balances on bank and card accounts. “Network Branded” cards can be used at an “ATM” just like any debit/credit card.

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A security feature on credit/debit cards and “Network Branded” prepaid cards to protect against fraud. The first code, known as CVV1 or CVC1, is encoded on the magnetic stripe of the card and used when the card is physically presented at a “POS”. The second code, known as CVV2 or CVC2, is printed on the card and used for “Card Not Present” transactions, typically online or by telephone.

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A reloadable “Network Branded” card that can be used by consumers for day-to-day spending usually purchased for personal use. Can be topped up using different methods (see also “Unbanked Card” and “General Purpose Prepaid Card”).

A type of card that has a “Chip” and requires a “PIN” to be used in order to authorize transactions. In the European Economic Area, most “Network Branded” cards are of the Chip & PIN type.

The writing on the card is raised above its surface.

A card that is purchased by the customer at the point of sale, often a non-personalised card, and can be used immediately. Gift cards are a type of Instant Issuance card.

The minimum or maximum monetary value that can be loaded on to a prepaid product. Sometimes also refers to a limit on the amount of funds that can be reloaded over a period of time.

The global payments company.

A card that has the cardholders names or initials written across the face of the card.

Commonly refers to a confidential pass-code known only to the cardholder in order to authorize purchases with a credit/debit card and “Network Branded” cards. Also refers to the additional digits on the rear of a (normally “Closed Loop”) card covered by a scratch-off film in order to prevent fraud.

A terminal in a merchant where payment of goods and services is made. Can also refer to the terminal, device or system which loads and activates prepaid cards.

A Prepaid Card is a payment card that works in the same way as a pay as you go mobile phone.

A Prepaid Card looks just like any normal credit or debit card, with a card number, name, signature strip, chip, PIN, and company branding.

Prepaid Cards are unlike credit cards, which provide you with a line of credit. They are different from debit cards that are linked to a bank account with an overdraft facility. You can't borrow money with a Prepaid Card - you can only spend the money you have loaded onto it.

Prepaid Cards can be MasterCard®, Visa or Maestro® and can be used wherever the relevant MasterCard®, Visa or Maestro® acceptance signs are shown.

A card that can have monetary value added to it in addition to the initial load (see also “Load Limit”).

A monthly fee levied to cover the cost of administering and maintaining the card account. This fee is usually deducted from the balance on the card.