| M |
|
|
| Machine Language |
Binary code instructions to a computer. |
|
| Macro |
When used alone and not as a prefix. A string of commands that
enable the computer used to assign multiple keystrokes to a single
key. |
|
| Magnetic Shielding |
Enclosure of electronic components to prevent electromagnetic
interference or emanation. |
|
| Magnetic Stripe |
The magnetic tape on a card that contains the data necessary
to complete a transaction. |
|
| Magnetic Stripe Card |
A card with one or more magnetic stripes. |
|
| Magnetic Stripe Reader |
A device which reads information recorded on the magnetic tracks
of an identification card. |
|
| Magnetic Stripe Writer |
A device that writes information to magnetic tracks on an identification
card. Note that track 1 and track 2 are read-only on ISO standard
cards. |
|
| Magnetic Track |
A linear path on a magnetic stripe along which data is recorded.
Positions of magnetic tracks are defined in ISO 7811. |
|
| Major Currency Unit |
The larger unit of currency in a particular unit of currency
in a particular country, i.e. the pound as opposed to the penny,
the dollar as opposed to the cent, etc. |
|
| Major Industry Identifier |
A number identifying the major industry of a card issuer. |
|
| Masked ROM |
ROM in which data is installed at the time of manufacture and
which cannot subsequently be erased and reprogrammed. |
|
| Master Derivation Key |
A derivation key used by a bankcard company or another organization
to derive unique issuer or application supplier keys. |
ISO |
| m-commerce |
Mobile commerce – The ability to buy and sell products and conduct
payments electronically, where the buyer and the vendor are not
in the same physical location. |
|
| Medicaid |
A public assistance program offered by each state to its residents,
regardless of age, who have insufficient financial resources to
pay for healthcare expenses. This program is described in the Social
Security Act under Title XIX. |
|
| Megabyte |
About a million bytes. Precisely 1,048,576. |
|
| Memory Card |
Integrated circuit card capable of storing information but not
having calculating capability, i.e. no microprocessor. |
|
| Merchant Accounting |
Accounting for funds owing between a card acceptor and a acquirer. |
|
| Merchant Fraud |
Fraud perpetrated against other parties in a payment system
by a card acceptor. |
|
| Merchant Service Charge |
The fee paid by an Acceptor to an Acquirer for transactions
made by a payment card. |
|
| Message |
In a payment system, a communication between parties participating
in the system. |
|
| Message Authentication Code(MAC) |
A data field, the contents of which can be used to verify the
integrity of a message, or selected message elements. |
ISO |
| Microcircuit Card |
See Integrated Circuit Card |
|
| Microprocessor |
A microcomputer with all of its processing facilities on a single
chip. Also called microprocessor-on-a-chip. A microprocessor is
a computer processor on a chip including registers and possible
cache memory. A microcomputer or microcontroller also has data
and program memory on the same chip. |
|
| Minor Currency Unit |
The smaller of the units of currency in a particular country,
i.e. the penny as opposed to the pound, the cent as opposed to
the dollar, etc. |
|
| Modem |
Acronym for modulator-demodulator, a device that converts digital
signals for analogue transmission over a voice telephone network. |
|
| Mondex |
An electronic cash payment system, utilizing smart cards with
stored value and security features. |
|
| Monthly Account Card |
A charge card with a monthly billing cycle. |
|
| Motorized Card Reader |
A magnetic stripe reader that passes a card past its magnetic
heads under motor power compare read-on-insertion, read-on withdrawal,
swipe reader. Most ATMs and ABMs have this kind of reader. |
|
| Multi-Application Card |
A card that can support more than one application, where different
parties may provide the applications. |
|
| Multi-currency Dealing |
Processing of transactions denominated in different currencies
within a single payment system. |
|
| Multiplex |
Transmission of more than one message simultaneously on the
same circuit or channel. |
|
| Multos |
A multi-application operating system for smart cards. |
|
