Glossary

The Great Payment Glossary

The world of online payments is a complicated one. It has its own language which to those who have yet to be initiated may find confusing and alienating. No more! This glossary is a gateway into the world of online payments lingo. We have put together the most frequently searched terms and answered their most frequently asked questions. Discover more about what payment orchestration can do for your business here.

Alternative Payment Methods

Alternative Payment Methods often abbreviated to APMs, are what people in the payment industry call a payment method which is not Credit/Debit card. There are many different types of payments available and their popularity depends on regions, and markets.

Alternative Payment Methods

Alternative Payment Methods often abbreviated to APMs, are what people in the payment industry call a payment method which is not Credit/Debit card. There are many different types of payments available and their popularity depends on regions, and markets.

Card Vaulting

A Card Vault provides a means of storing and tokenizing your customers’ payment data. Choose an independent PCI-DSS Level 1, PCI 3DS, and GDPR-compliant solution in order for more flexibility, reliability and the largest possible degree of independence from your payment service providers.

Card Vaulting

A Card Vault provides a means of storing and tokenizing your customers’ payment data. Choose an independent PCI-DSS Level 1, PCI 3DS, and GDPR-compliant solution in order for more flexibility, reliability and the largest possible degree of independence from your payment service providers.

Alternative Payment Methods

Alternative Payment Methods often abbreviated to APMs, are what people in the payment industry call a payment method which is not Credit/Debit card. There are many different types of payments available and their popularity depends on regions, and markets.

Card Vaulting

A Card Vault provides a means of storing and tokenizing your customers’ payment data. Choose an independent PCI-DSS Level 1, PCI 3DS, and GDPR-compliant solution in order for more flexibility, reliability and the largest possible degree of independence from your payment service providers.

Cross-Border Payments

A cross border payment is a monetary transaction that takes place between banks, financial institutions, businesses or individuals operating in different countries that may or may not share a border.

Cross-Border Payments

A cross border payment is a monetary transaction that takes place between banks, financial institutions, businesses or individuals operating in different countries that may or may not share a border.

Cross-Border Payments

A cross border payment is a monetary transaction that takes place between banks, financial institutions, businesses or individuals operating in different countries that may or may not share a border.

Interchange Fee

Interchange fee is a term used in the payment card industry to describe the fee paid to the cardholders issuing bank from the merchants acquiring bank when a transaction is made.

Interchange Fee

Interchange fee is a term used in the payment card industry to describe the fee paid to the cardholders issuing bank from the merchants acquiring bank when a transaction is made.

MOTO

A MOTO Payment is a card not present transaction. In order to complete and pay for an order, the relevant data is provided by the customer via phone or email. Merchants need access to a virtual terminal where they can enter the information provided to process the payment.

Interchange Fee

Interchange fee is a term used in the payment card industry to describe the fee paid to the cardholders issuing bank from the merchants acquiring bank when a transaction is made.

MOTO

A MOTO Payment is a card not present transaction. In order to complete and pay for an order, the relevant data is provided by the customer via phone or email. Merchants need access to a virtual terminal where they can enter the information provided to process the payment.

Open Banking

Open Banking is a payment method. It allows customers to pay by bank transfer, sending funds directly from their bank account to the merchant. It is fast and secure, and requires no card or personal data.

MOTO

A MOTO Payment is a card not present transaction. In order to complete and pay for an order, the relevant data is provided by the customer via phone or email. Merchants need access to a virtual terminal where they can enter the information provided to process the payment.

Open Banking

Open Banking is a payment method. It allows customers to pay by bank transfer, sending funds directly from their bank account to the merchant. It is fast and secure, and requires no card or personal data.

Open Banking

Open Banking is a payment method. It allows customers to pay by bank transfer, sending funds directly from their bank account to the merchant. It is fast and secure, and requires no card or personal data.

Pay By Link

Pay By Link or payment links is the process of using a URL or QR code that takes customers to a stand-alone web page where they can complete the transaction.

Pay By Link

Pay By Link or payment links is the process of using a URL or QR code that takes customers to a stand-alone web page where they can complete the transaction.

Payment Fraud

Payment fraud is the act of making a transaction with fraudulent details. The victim can be an individual, or a business.

Payment Fraud

Payment fraud is the act of making a transaction with fraudulent details. The victim can be an individual, or a business.

Pay By Link

Pay By Link or payment links is the process of using a URL or QR code that takes customers to a stand-alone web page where they can complete the transaction.

Payment Fraud

Payment fraud is the act of making a transaction with fraudulent details. The victim can be an individual, or a business.

Payment Life-Cycle

A payment life-cycle refers to the process of what happens when a transaction is made. There are different payment lifecycles as they depend on the payment method that was used. The most common payment method, at the moment, is that of credit or debit card.

Payment Life-Cycle

A payment life-cycle refers to the process of what happens when a transaction is made. There are different payment lifecycles as they depend on the payment method that was used. The most common payment method, at the moment, is that of credit or debit card.

Payment Life-Cycle

A payment life-cycle refers to the process of what happens when a transaction is made. There are different payment lifecycles as they depend on the payment method that was used. The most common payment method, at the moment, is that of credit or debit card.

Payment Orchestration

Payment orchestration gives merchants complete control over their payment stack. By choosing an acquire agnostic provider merchants have the freedom to connect to the most appropriate payment methods to reach the markets they sell in. Increase conversion with transaction routing and payment pages based on geolocation, platform specific data, and payment history. Get a complete and accurate overview of with state-of-the-art reporting functions, and analyze your reconciliation and settlements any way you like.

Payment Orchestration

Payment orchestration gives merchants complete control over their payment stack. By choosing an acquire agnostic provider merchants have the freedom to connect to the most appropriate payment methods to reach the markets they sell in. Increase conversion with transaction routing and payment pages based on geolocation, platform specific data, and payment history. Get a complete and accurate overview of with state-of-the-art reporting functions, and analyze your reconciliation and settlements any way you like.

PCI

PCI stands for "Payment Card Industry Data Security Standard". It is the term used to described the compliance that is necessary in order to transmit, store, handle or accept credit/debit card data. The full acronym is PCI DSS, but it is usually referred to as PCI for short.

Payment Orchestration

Payment orchestration gives merchants complete control over their payment stack. By choosing an acquire agnostic provider merchants have the freedom to connect to the most appropriate payment methods to reach the markets they sell in. Increase conversion with transaction routing and payment pages based on geolocation, platform specific data, and payment history. Get a complete and accurate overview of with state-of-the-art reporting functions, and analyze your reconciliation and settlements any way you like.

PCI

PCI stands for "Payment Card Industry Data Security Standard". It is the term used to described the compliance that is necessary in order to transmit, store, handle or accept credit/debit card data. The full acronym is PCI DSS, but it is usually referred to as PCI for short.

PSD2

The Payment Services Directive Two (PSD2) is European legislation that ensures payment providers (card providers, banks, payment facilitators, and more) improve customer authentication processes. The regulations were implemented due to the increased popularity in online shopping and online payments.

PCI

PCI stands for "Payment Card Industry Data Security Standard". It is the term used to described the compliance that is necessary in order to transmit, store, handle or accept credit/debit card data. The full acronym is PCI DSS, but it is usually referred to as PCI for short.

PSD2

The Payment Services Directive Two (PSD2) is European legislation that ensures payment providers (card providers, banks, payment facilitators, and more) improve customer authentication processes. The regulations were implemented due to the increased popularity in online shopping and online payments.

PSD2

The Payment Services Directive Two (PSD2) is European legislation that ensures payment providers (card providers, banks, payment facilitators, and more) improve customer authentication processes. The regulations were implemented due to the increased popularity in online shopping and online payments.

Reconciliation

Payment reconciliation is the term given to the comparison of financial records to make sure that the accounting is accurate.

Reconciliation

Payment reconciliation is the term given to the comparison of financial records to make sure that the accounting is accurate.

Recurring Payments

More and more goods and services are provided on an ongoing, periodic basis. Therefore, recurring payments have become one of the most frequent payment models.

Recurring Payments

More and more goods and services are provided on an ongoing, periodic basis. Therefore, recurring payments have become one of the most frequent payment models.

Reconciliation

Payment reconciliation is the term given to the comparison of financial records to make sure that the accounting is accurate.

Recurring Payments

More and more goods and services are provided on an ongoing, periodic basis. Therefore, recurring payments have become one of the most frequent payment models.

SCA

Strong Customer Authentication (SCA) is multi-factor authentication (MFA), sometimes also referred to as two-factor authentication (2FA). It involves using at least two out of three possible forms of identification to complete an online purchase.

SCA

Strong Customer Authentication (SCA) is multi-factor authentication (MFA), sometimes also referred to as two-factor authentication (2FA). It involves using at least two out of three possible forms of identification to complete an online purchase.

SCA

Strong Customer Authentication (SCA) is multi-factor authentication (MFA), sometimes also referred to as two-factor authentication (2FA). It involves using at least two out of three possible forms of identification to complete an online purchase.

Settlement

A settlement in online payments is the transfer of assets to the merchant for the purchasing of goods and or services. It is the completing of the payment life cycle. Settlement time varies depending on the method of payment and the parties involved.

Settlement

A settlement in online payments is the transfer of assets to the merchant for the purchasing of goods and or services. It is the completing of the payment life cycle. Settlement time varies depending on the method of payment and the parties involved.

Tokenization

Tokenization is the process of protecting sensitive payment data by replacing it with a randomly generated number called a token.

Settlement

A settlement in online payments is the transfer of assets to the merchant for the purchasing of goods and or services. It is the completing of the payment life cycle. Settlement time varies depending on the method of payment and the parties involved.

Tokenization

Tokenization is the process of protecting sensitive payment data by replacing it with a randomly generated number called a token.

Transaction Routing

Transaction routing is a feature of a multi-provider setup and gives merchants control of their payments. It allows for the customization of payment flows, flexible load distribution, lower transaction costs, and the use of fall-back routing and cascading in case of provider downtimes.

Tokenization

Tokenization is the process of protecting sensitive payment data by replacing it with a randomly generated number called a token.

Transaction Routing

Transaction routing is a feature of a multi-provider setup and gives merchants control of their payments. It allows for the customization of payment flows, flexible load distribution, lower transaction costs, and the use of fall-back routing and cascading in case of provider downtimes.

Transaction Routing

Transaction routing is a feature of a multi-provider setup and gives merchants control of their payments. It allows for the customization of payment flows, flexible load distribution, lower transaction costs, and the use of fall-back routing and cascading in case of provider downtimes.

White Label

A white label payment gateway is the name given to a technical service provider that gives businesses the ability to manage and process payments under their own brand while using third-party SaaS (Software as a Service).

White Label

A white label payment gateway is the name given to a technical service provider that gives businesses the ability to manage and process payments under their own brand while using third-party SaaS (Software as a Service).

White Label

A white label payment gateway is the name given to a technical service provider that gives businesses the ability to manage and process payments under their own brand while using third-party SaaS (Software as a Service).

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