What is CoF transaction?
Matthew Harrington
Updated on January 28, 2026
Credential on File (CoF) is the process when the cardholder authorizes the merchant to store their credentials (including, but not limited to, an account number or payment token) for future transactions.
What is CP in credit card?
CP is the abbreviation for Card Present (as opposed to CNP, which means Card Not Present). Typically, a merchant who processes a Card Present Transaction is required to also print a receipt and obtain the cardholder’s signature once the transaction is approved. Retail merchants will fall under this category.
What is CC payment method?
Online Bill Payments. Welcome to CC Payment Service, the leading provider of hosted electronic payment solutions in the U.S. Use our World Wide Web and Telephone IVR systems to easily make rapid, secure payments to affiliated state, county and local government agencies, universities, private businesses, etc.
What is scheme tokenization?
Scheme tokens (also network tokens) are used to process card payments in e-commerce and mobile wallets (like Google Pay or Apple Pay, enabling payments also in brick-and-mortar shops). The card company (Scheme) fills the role of the token service and manages the token system.
What is card-on-file transaction?
A card-on-file transaction is a transaction where a cardholder authorized a merchant to store the cardholder’s Mastercard or Maestro payment details. And then the cardholder authorizes that same merchant to bill the cardholder’s stored Mastercard or Maestro account.
What is Credential on file transaction?
A Credential on File transaction is a transaction in which a cardholder has explicitly authorized a merchant to store the cardholder’s MasterCard or Maestro account information (i.e., PAN and expiration date, or tokenized PAN and expiration date) and the cardholder subsequently authorizes that same merchant to bill the …
What’s a CP number?
CPNs — also referred to as credit profile numbers, credit protection numbers, CPN numbers or secondary credit numbers (SCNs) — are marketed as nine-digit identification numbers that can supposedly be used instead of a Social Security number in some instances. See Your Credit Score For Free. No Credit Card Required.
What should I put on my CP credit card?
You also need the card’s expiration date, security code, and zip code on file with your card issuer. The security code is typically a three-digit number on the back of the card, but this varies by issuer. Most systems also ask for the cardholder’s name.
How do you pay with a credit card?
5 Steps to Pay Online With a Credit Card
- Enter Your Shipping Address.
- Choose “Credit Card” as Your Payment Method.
- Enter Your Info as It Appears on Your Credit Card.
- Enter the Billing Address for Your Credit Card.
- Verify Your Information.
What does COF stand for in Business category?
What does COF stand for? Rank Abbr. Meaning COF Capital One Financial (stock symbol) COF Consequence of Failure (business risk) COF Club of Florence (Florence, Italy) COF Custodian of Funds (Illinois Department
How is visa helping issuers with COF payments?
While the growth in CoF payments poses new challenges, Visa is there to help issuers develop and execute digital strategies that enable them to benefit from the transformations rampant in the payment landscape. ¹ eMarketer, US Ecommerce Performance StatPack, December 2016. ³ Deloitte, “Default” payment methods, 2016.
What do you mean by corporate credit card?
Corporate credit cards are credit cards issued to employees of established companies for use in charging authorized business expenses. A personal guarantee is an individual’s legal promise to repay credit issued to a business for which they serve as an executive or partner.
When does intent to use COF payments increase?
Intent to use CoF payments is expected to rise over the next two years, although Visa estimates that increased usage will not be uniform across all digital use cases and will likely be correlated with consumer perceptions of security.
