Credit Card Glossary: Terms and Definitions
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.
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.