Glossary
Card network, or a card scheme, is a financial infrastructure that supports electronic payments by setting and ensuring standards for merchants, acquiring banks, issuers, and processors. Card networks are essential to the financial transaction ecosystem, connecting merchants, consumers, and financial institutions. These advanced systems ensure secure and efficient electronic payments worldwide. Card schemes like Visa, Mastercard, American Express, and others, actively track monthly disputes, known as chargebacks, monitoring sales performance and fraud risks. When the number of disputes exceeds acceptable limits, businesses may be enrolled in monitoring programs that can impose monthly penalties and additional fees.

Each network uses specific methods to assess transaction risks and track fraud rates. For monitoring, Visa focuses on Glossary
Descriptors provide clarity to a cardholder regarding the nature of a transaction. They typically include details such as the merchant’s name, a brief description of the product or service, and may include a contact number or website for customer inquiries. descriptors , Mastercard on Glossary
Merchant Identification Number (MID) is a unique numerical identifier assigned to each merchant with a merchant account to distinguish them within the electronic payment system. merchant IDs (MIDs), and American Express, Discover, Diners, and JCB on Glossary
Account IDs, serve as distinct markers for each merchant or account within the network. By grouping and analyzing transactions associated with these account IDs, the networks can precisely track merchant performance, assess transaction risks, and identify potential fraud or risk areas. account IDs . This approach allows precise tracking of merchant performance and potential risk areas.