B

backbone

A special type of internetwork intended specifically to connect other internetworks to the Internet, or used to connect internetworks across wide geographic areas.

bandwidth

The amount of data that can be carried by a communications link in a given time. Usually measured in bits. A typical telephone link is capable of about 28.8 Kbps (thousands of bits per second).

bank identification number

The digits of a credit card that identify the issuing bank. It is sometimes the first six digits and is often referred to as a BIN.

basis point

One one-hundredth of a percent. Discount rates are expressed as basis points.

batch

A collection of transactions submitted for settlement. Usually, a merchant has one batch per day or per shift.

batch ID

After a batch is settled, it receives a batch ID. Every transaction in the batch shares this ID. If a transaction does not have a batch ID associated with it, the transaction has not been settled, or is a nonsettleable transaction, such as an authorization.

batch processing

A type of data processing in which related transactions are transmitted as a group for processing.

batch settlement

A sort of electronic bookkeeping procedure that causes all funds from captured transactions to be routed to the merchant’s acquiring bank for deposit. A vendor automatically submits all captured transactions for settlement on a daily basis. The time that it takes for these funds to reach the merchant account after settlement is 1–5 days, but varies by acquiring bank.

binary executable

A universal character-coding system.

bit

The smallest unit of binary information, represented as either “1” or “0.”

bridge

A special-purpose computer that connects two networks of the same type. It reproduces transmissions from one and sends them to the other connected network.

browser

A World Wide Web client program. Browsers are capable of requesting data from Web servers and processing data received in response to these requests.

bundled rate

A discount rate that includes communications costs as well as transaction fees. Also referred to as a flat rate.

byte

A basic unit of data, consisting of 8 bits.