S

sale

A transaction type that approves a transaction and settles it at the next settlement period.

S-HTTP

Secure Hypertext Transfer Protocol; a protocol that defines security additions to the HTTP protocol, developed within the traditional Internet standards process. S-HTTP operates strictly at the application level, adding encryption and authentication to World Wide Web client/server communications.

secret key

A key that must be kept secret. The term is sometimes used to refer to the private key in asymmetric cryptography (public key cryptography), but more properly refers to a shared secret between parties who use the same key to encrypt and decrypt messages.

Secure Sockets Layer

An encryption system that allows merchants to securely process electronic transactions to processors.

server

Any computer connected to a network that offers services to other connected systems on the network.

settlement

The process by which transactions with authorization codes are sent to the processor for payment to the merchant. Settlement is a sort of electronic bookkeeping procedure that causes all funds from captured transactions to be routed to the merchant’s acquiring bank for deposit. The time that it takes for these funds to reach the merchant account after settlement is 1–5 days, but varies by the merchant’s agreement with their card processing company.

SIC code

Standard Industry Classification; a four-digit number used to identify business type.

SLIP

Serial Line Internet Protocol; a method of connecting a single computer to the Internet through a telephone link, SLIP is generally considered less desirable than PPP for this purpose.

SMTP

Simple Mail Transfer Protocol; the set of rules defining the transmission of electronic mail between users.

snail mail

The traditional paper-based postal service.

Sneaker-net

A humorous reference to the lack of a digital local area network (at your office, for example), where people must run back and forth with diskettes between computers.

SNMP

Simple Network Management Protocol; a protocol that defines functions used to monitor and manage network resources across internetworks.

SSL

Secure Sockets Layer; a protocol first developed by Netscape and subsequently provided to the rest of the Internet community to add encryption and authentication at the network layer just below the application level.

standard

The lowest qualification level at which a Visa or MasterCard transaction may interchange. This occurs when a transaction is deposited several days after the original authorization and is not swiped.

STT

Secure Transaction Technology; a protocol specification released by Microsoft and Visa International late in September 1995, intended to define the interchange of credit card payment information across public and private networks.

surcharges

Any additional charges to a merchant’s standard processing fees. They are a result of nonqualified transactions of different communications methods.

surf

The action of going from one place to another on an online service. The term grew out of the concept of TV channel surfing.

suspended batch

A state in which a batch of transactions is not released to interchange because of problems noticed by the host computer. Requires human intervention to fix the problem and settle the batch.

swiped card

The credit card information that is transferred directly as a result of swiping or sliding the credit card through a card reader. Swiped cards are used in retail and other card-present situations. The information magnetically encoded in the magnetic stripe includes secret data that helps validate the card.

synchronous

A method of transmitting data in which the data elements are sent at a specific rate so that start and stop characters are not needed. Used by older modems, AmEx PIP terminals, and so forth. Compare to asynchronous.