sales on credit
Sales on credit refers to the process of checking a consumer’s credit report and paying for the purchase based on the circumstances. When you apply for a purchase using sale on credit, you then pay the amount in installments.
Glossary
Glossary of terms commonly used in the Wallet
Terms starting from S
9 Information
security code
The security code is the last three digits of the seven digit number printed on the signature line on the back of a credit card. The role of the security code is to increase security by preventing unauthorized use or identity theft by third parties.
shopping insurance
Shopping insurance is an insurance policy that provides coverage for items purchased with a credit card if they are damaged or stolen. It is a type of automatic credit card coverage, which means that you are automatically insured when your card is issued.
signatureless system
A signatureless system is a system that allows customers to make purchases with credit cards without verification of their identity by signature.
skimming
Skimming is the act of obtaining unauthorized information from another person’s credit card or cash card and using a counterfeit card made from that information to illegally withdraw cash.
spam
Generally, the term “spam” refers to the sending of bulk, indiscriminate, and mass messages that do not conform to the recipient’s intentions (e.g., unsolicited email), and in a broader sense, the act of spamming itself.
student card
A student card is a credit card exclusively for students. Unlike most credit cards, student cards are only issued to students 18 years of age or older who are enrolled in junior colleges, four-year colleges, graduate schools, or vocational schools, etc. Students under 20 years of age must have parental consent.
surcharge
A surcharge is money that is added to a certain amount. For example, you may be asked to pay a surcharge when you purchase an item with a credit card.
SWIFT code
SWIFT code is a financial institution identification code established by SWIFT (Society for Worldwide Interbank Financial Telecommunications) and is used by the sending bank to identify the receiving bank. It is also known as a “SWIFT address” or “BIC code”.