Learning Center

Card Knowledge Glossary

A B C | D E F | G H I | J K L | M N O

P Q R | S T U | V W X | Y Z

J

K

Key

When used in the context of encryption, a series of numbers which are used by an encryption algorithm to transform plaintext data into encrypted (ciphertext) data, and vice versa.

L

Large Ticket Rate

Visa and MasterCard have created special interchange rates that incent the merchant to process higher dollar credit card transactions. Large ticket transactions are often greater than $100,000.00 and may exceed several million dollars.

Level III

Level III purchase card information refers to the ability to process detailed purchase information with the financial credit card transaction. The supplemental information typically includes data elements like a Customer Code, Invoice and Order number, Part Number, Item Description, Quantity, Unit of Measure, Unit Price, etc. Level III (Level-3) is a feature associated with purchase card (or purchasing card) programs.

Level-3

Level-3 purchase card information refers to the ability to process detailed purchase information with the financial credit card transaction. The supplemental information typically includes data elements like a Customer Code, Invoice and Order number, Part Number, Item Description, Quantity, Unit of Measure, Unit Price, etc. Level-3 (Level-III) is a feature associated with purchase card (or purchasing card) programs.

Line Item Detail

Line item detail is the specific information that is carried in a Level-3 (Level III) purchase card (or purchasing card) transaction. The supplemental information typically includes data elements like a Customer Code, Invoice and Order number, Part Number, Item Description, Quantity, Unit of Measure, Unit Price, etc.