Credit Card Glossary: Terms and Definitions
Fallback transactions are a phenomenon of the switch from old magnetic stripe credit cards to EMV chip cards. A fallback transaction occurs in retail settings when, due to equipment failure or attempted fraud, the EMV chip card reader fails to make the transaction, and the merchant is prompted to complete the sale via the old swipe method.
Terms from A-Z
Search the CreditCards.com glossary for every credit-related term from "account holder" to "zombie debt." Select a letter for alphabetized terms and definitions.