Credit Card Glossary: Terms and Definitions
		Confused by credit card terms? CreditCards.com's glossary of credit card definitions will help. From account holder to Regulation Z, we have defined the most-common and most-confusing credit card terms.

Mail/phone order transaction

A mail or phone order transaction is one in which a cardholder orders goods or services from a merchant by telephone, mail or other means of telecommunication, and where neither the card nor the cardholder is present at the merchant outlet. Card processing companies such as Visa and MasterCard charge higher fees to the merchant for such transactions.