Smishing
Smishing is a technique used by criminals to steal bank or credit card information using text messages. In such an incident, the mobile device user receives a fake text message that appears to be from a bank. The text message may request that the consumer call a phone number to provide card or account information to a criminal posing as a bank employee.
TARGET2
TARGET2 is an interbank payment system for the real-time processing of cross-border transfers throughout the European Union and replaced TARGET in 2007. TARGET2 has to be used for all payments involving the Eurosystem, as well as for the settlement of operations of all large-value net settlement systems and securities settlement systems handling the euro and is operated on a single technical platform. The business relationships are established between the TARGET2 users and their National Central Bank.
It stands for Trans-European Automated Real-time Gross Settlement Express Transfer System 2.
Tiered Pricing
Tiered pricing is a merchant account rate structure that credit card processors use to assess charges. It is also referred to as bundled pricing because it allows processors to group interchange fees into general rate tiers of their choice. There are two types of Tier Pricing 3-Tier Pricing and 6-Tier Pricing.
Token Based Authentication
Allows cardholders to connect remotely to services by authenticating their identity through the use of a password that is not transmitted between the two parties. Often a password is generated by a device issued by the service provider, e.g., a bank or card issuer, to the customer or cardholder, and when prompted the password is entered by the customer and is recognised by the service provider.
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