Merchant Account Glossary - I

IC Verify
IC Verify is a type of payment software for PCs and is produced by First Data.

Imprinter
A slide-type device used to create an embossed image of the credit cards characters on to a transcription slip. It is a necessity for all merchants to have a manual imprinter for special case where a physical imprint may be needed.

Independent Contractor/Independent Sales Organization (IC/ISO)
This is an acronym for a registered sales representative, people that have been contracted by a company to sell its merchant processing services throughout the nation.

Integrated Point of Sale (IPOS)
Acronym for “smart” terminals. These are credit card terminals, owned by the same merchant that can be set-up to communicate with each other even if they are in different locations or have different merchant numbers.

Internet Merchant
See "Business Type"

Issuing Bank
Any Visa or MasterCard member bank that has a contractual relationship with the cardholders that allows for them to issue cards.