Basis point- unit that is equal to 1/100th of a percentage point. Basis points are used in the credit card processing industry to denote a rate change, or the difference (spread) between two interest rates. This is partially due to the large effect of small changes. For example 10 basis points = .001 or .1%.

Pin-less debit - online debit transactions that are processed via EFT networks ie STAR, PULSE etc.

EMV - EMV comes from the initial letters of Europay, MasterCard and VISA, the three companies which originally cooperated to develop the standard for interoperation of IC cards (”Chip cards”) and IC capable POS terminals and ATM’s, for authenticating credit and debit card payments. CLICK FOR MORE DETAILS: EMV definition