West Virginia Code of State Rules › Agency 112 - Treasurer › Title 112 - PROCEDURAL RULE STATE TREASURER'S OFFICE › Series 112-12 - Procedures for Fees in Collections by Charge, Credit or Debit Card or by Electronic Payment › Section 112-12-2 - Definitions

Current through Register Vol. XLI, No. 28, July 12, 2024
2.1. "ACH" means
				automated clearinghouse, a national EFT network which enables participating
				financial institutions to distribute electronic credit and debit entries to
				accounts and to settle the entries.
2.2. "Card Issuer" means the financial
				institution issuing a charge, credit, or debit card.
2.3. "Card Payment Service Provider" means an
				entity that accepts payment by charge, credit, or debit card or electronic
				payment on behalf of a spending unit.
2.4. "Charge Card" means a card (usually
				plastic) issued for the purpose of obtaining money, property, or services on
				credit, with the full balance due at the end of each statement
				period.
2.5. "Convenience Fee"
				means a fixed charge assessed to a charge, credit, or debit card or electronic
				payment to help defray the cost of processing a transaction.
2.6. "Credit Card" means a card (usually
				plastic) issued for the purpose of obtaining money, property, or services on
				credit, with the full balance or minimum payments due at the end of each
				statement period. Interest is assessed on the unpaid balance.
2.7. "Customer" means any person or entity
				purchasing from a spending unit.
2.8. "Debit Card" means a card issued for the
				purpose of obtaining money, property, or services with the amount charged
				directly to the holder's financial institution account.
2.9. "Discount Fee" means the charges
				assessed to the merchant on the total sale by charge, credit, or debit card by
				a card issuer for accepting its card.
2.10. "Electronic Commerce" means the
				processing of transactions by electronic techniques, including, but not limited
				to, the telephone, IVR, POS terminal, internet, electronic payment, virtual
				terminal, and online transaction processing.
2.11. "EFT" means electronic funds
				transfer.
2.12. "Electronic
				Payment" means an EFT, including, but not limited to, payment by ACH, ACH based
				electronic check, wire transfer, and online transaction processing.
2.13. "Financial Institution" means a state
				or national bank or a state or federal savings and loan association.
2.14. "Internet" means the computer-based
				global information system linking computer networks all over the world by the
				use of internet protocol suite (TCP/IP).
2.15. "IVR" means a telephone interactive
				voice response system.
2.16.
				"Merchant" means any state spending unit that accepts charge, credit, or debit
				cards.
2.17. "Point of Sale
				Terminal" or "POS Terminal" means a device used for the primary purposes of
				transferring moneys to or from a financial institution account or segregating
				moneys in accounts within a financial institution, or both, for transactions,
				including, without limitation, devices used to implement and facilitate check
				guarantee and check authorization.
2.18. "Service Fee" means a fixed or variable
				rate charge assessed to a charge, credit, or debit card or electronic payment
				to help defray the cost of processing a transaction.
2.19. "Spending Unit" means any entity of the
				West Virginia state government for which an appropriation is requested or to
				which an appropriation is made by the Legislature.
2.20. "STO" means the West Virginia State
				Treasurer's Office.
2.21.
				"Transaction" means one electronic purchase or payment.
2.22. "Treasurer" means the West Virginia
				State Treasurer or his or her designee from the Treasurer's office.
2.23. "Virtual Terminal" means a web-browser
				based access to an acquirer, processor, or third party service provider website
				to authorize payment card transactions where the merchant manually enters
				payment card data via a securely connected web browser. Unlike physical
				terminals, virtual terminals do not read data directly from a payment
				card.