2006

Table Of Contents
June 2006 67
Glossary
AVS
Address Verification System. A U.S. banking industry standard for confirming the postal
address or telephone number associated with a credit card.
auth
Short for “authorization.” In U.S. banking industry terminology, to electronically check the
validity of a credit card number.
With Authorization & Capture, an auth is your means to verify that a PayPal member has
sufficient funds to meet a payment obligation.
capture
The request for settlement.
checkout
The process that takes place on your website in which a buyer selects a method of payment for
an order.
PayPal Standard Checkout refers to all PayPal products for use during buyer checkout except
for PayPal Express Checkout.
CVV2
Card Verification Value, version 2. In U.S. credit card industry terminology, a three-digit code
printed on the back of a credit card to enhance fraud protection when the credit card number is
used over the Internet or telephone.
order
An end result of a checkout. An accounting description of the purchase of one or more items
the buyer has agreed to pay for.
reauth
An initially authorized transaction amount must be reauthorized if the amount of the
transaction increases more than 115% of the original authorization.
settle
Short for “settlement.” Strictly defined, the settlement is the actual movement of funds from
the buyers account to the merchant’s account.