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National Automated Clearing House Association (NACHA)

National Automated Clearing House Association (NACHA):

The national association that establishes the standards, rules and procedures that enable depository financial institutions to exchange ACH payments on a national basis.

Negative File

Negative File:

A collection of records (cardholder accounts) containing all accounts on which charge privileges have been revoked and/or require a voice authorization.

Net Payment

Net Payment:

Payment to the merchant for sales drafts less credits minus the appropriate discount fee.

Net Revenue

Net Revenue:

Discount income less interchange expense.

Net Settlement

Net Settlement:

The settlement, through an actual transfer of funds, of the net effect of a series of financial transactions involving customers of two or more banks.

Network

Network:

Computers that are connected together.

Network Business Day

Network Business Day:

The period of processing time from cutover to cutover. The Network Business Day may differ depending on the STAR Switch to which a Processor, Indirect Processor or Member is interfaced.

Network Service Provider

Network Service Provider:

A terminal-centered system that allows the merchant to obtain authorization and/or data captured through the network. A third-party vendor who provides authorization network services such as Banknet, VISANet and NDC.

No Convenience Fee Program

No Convenience Fee Program:

A program operated by STAR whereby Acquirer Members display the STARsf service mark on their ATMs and elect not to assess Convenience Fees to STAR Cardholders of other Members that are part of the program. This program applies to STAR ATM Transactions only.

No Show

No Show:

A charge processed by a hotel or motel when a cardholder fails to arrive within a specified time or fails to cancel the guaranteed reservation within a specified period. The words “no-show” must be written on the signature line of the sales draft.

Node

Node:

The network telecommunication access point which can be accessed by the terminal dialing a ‘local’ telephone number, or a toll-free “950” or “800” telephone number for authorization.

Non Delivery Risk (NDX)

Non Delivery Risk (NDX):

A processed and cleared transaction charged to a cardholder’s account for full or partial payment for a product/service in advance of delivery/receipt of the product/service to the cardholder.

Non Face-to-Face Transaction

Non Face-to-Face Transaction:

Any transaction where the card is not presented, such as a mail order purchase.

Non-Bank

Non-Bank:

In a payment system, a financial institution not offering retail banking services.