As used in this chapter:
"Acquiring bank" means a financial institution
that receives credit card transactions and then settles with the card-issuing
banks.
"Chargeback" means a transaction disputed by a
cardholder or card issuer.
"Convenience fee " means a fee charged to the
cardholder for the convenience to that cardholder of using a particular method
of payment in a credit or debit card transaction in accordance with the network
regulations governing that transaction.
"Credit card" means the same as defined in
Iowa Code section
537.1301,
subsection 17.
"Credit card associations " means Visa,
MasterCard, American Express, Discover Network, Diners, JCB, and any other
organization that issues or sponsors credit cards or signature-based debit
cards that are accepted by state departments.
"Debit card" means a card used to purchase
goods or services and to obtain cash in which the cardholder's personal deposit
account is reduced by the transaction amount. Debit card transactions that are
processed on credit card association networks are typically called
signature-based debit card transactions, while debit card transactions
processed on electronic funds transfer networks are generally referred to as
PIN-based transactions.
"Financial institution " means the same as
defined in Iowa Code section
527.2 and includes
any bank incorporated under the provisions of any state or federal law, any
savings and loan association incorporated under the provisions of any state or
federal law, any credit union organized under the provisions of any state or
federal law, any corporation licensed as an industrial loan company under Iowa
Code chapter 536A, and any affiliate of a bank, savings and loan association,
credit union, or industrial loan company.
"Merchant" means the state department or
subdivision that accepts credit card and debit card payments.
"Merchant guidelines " means the manual issued
by the merchant services provider that prescribes the rules and procedures
governing credit card and debit card transactions and a state department's use
of the credit card and debit card processing services.
"Merchant services provider " means a company
that manages the processing of credit card and debit card transactions among
merchants, credit card issuers, and acquiring banks.
"Payment card industry data security
standards" or"PCI-DSS" means a set of comprehensive
requirements for credit card data security developed by the Payment Card
Industry Council, founded by American Express, Discover Financial Services, JCB
International, MasterCard Worldwide and Visa Inc. International.
"Treasurer" means the treasurer of the state
of Iowa and staff members who carry out duties delegated by the
treasurer.
