A
ABA Routing NumberABA Routing Number aba-routing-number
(ABA = American Bankers Association), also referred to as a Routing Transit Number. Directs electronic ACH deposits to the proper financial institution.
(ABA = American Bankers Association), also referred to as a Routing Transit Number. Directs electronic ACH deposits to the proper financial institution.
ACH (Automated ClearingClearing clearing
The exchange of financial information and instructions between acquirers and issuers to facilitate settlement. House)
A U.S.-based electronic network for financial transactionsTransactions transactions
Interactions where value is exchanged for goods or services.. Used for direct deposit, payroll, and vendor payments. Faster and more secure than paper checks. Learn more.
AcquirerAcquirer acquirer
A financial institution or payment processor that manages the merchant account, enabling businesses to accept card payments. Acquirers receive all transactions from the merchant and route them to the appropriate issuing bank.
A financial institution or payment processorProcessor processor
A company authorized to process credit and debit card transactions between acquirers and issuers. that manages the merchantMerchant merchant
An individual or business that accepts payments in exchange for goods or services. account, enabling businesses to accept card payments. Acquirers receive all transactions from the merchant and route them to the appropriate issuing bank. Visa Guide.
ACS (Access Control ServerServer server
The backend computer system that handles online payment processes and data.)
A securitySecurity security
Measures used to protect transaction data from fraud and cyber threats. server that supports 3-D Secure protocols. Hosted by card issuers to facilitate cardholderCardholder cardholder
The person or business to whom a payment card is issued. authenticationAuthentication authentication
A security process used to verify the identity of the user or cardholder. May involve passwords, biometrics, OTPs (one-time passwords), or 3-D Secure. in online transactions. Visa 3-D Secure.
Alternative PaymentsAlternative Payments alternative-payments
Non-card payment methods including digital wallets, bank transfers, Buy Now Pay Later (BNPL), stored-value cards, cryptocurrency, and region-specific solutions like iDEAL, Sofort, etc.
Non-card payment methods including digital walletsDigital Wallets digital-wallets
Applications or platforms (like Apple Pay, Google Pay) that store payment card data securely and allow users to pay digitally., bank transfers, Buy Now Pay Later (BNPL), stored-value cards, cryptocurrency, and region-specific solutions like iDEAL, Sofort, etc.
American ExpressAmerican Express american-express
A global financial services corporation offering credit cards, charge cards, travel-related services, and merchant acquiring.
A global financial services corporation offering credit cards, charge cards, travel-related services, and merchant acquiring. Official Site.
American Express SafeKeyAmerican Express SafeKey american-express-safekey
A 3-D Secure service from American Express that helps prevent unauthorized online card use by requiring an additional password or biometric verification.
A 3-D Secure service from American Express that helps prevent unauthorized online card use by requiring an additional password or biometric verification. SafeKey Info.
Application Service Provider (ASP)
A third-party company that offers software applications and services to customers over the internet from a centralized data center.
Arbitration (in Payments)
The final decision-making process for disputed chargebacks between an issuerIssuer issuer
A bank or financial institution that issues payment cards to consumers. Responsible for authorizations and chargebacks. and an acquirer. Usually handled by card networks like VisaVisa visa
A leading global payment technology company connecting consumers, businesses, and banks. or MasterCardMasterCard mastercard
A global payments network enabling electronic transactions between banks, merchants, and cardholders..
Authentication
A security process used to verify the identity of the user or cardholder. May involve passwords, biometrics, OTPs (one-time passwords), or 3-D Secure.
AuthorizationAuthorization authorization
The real-time process of verifying that a payment method has sufficient funds or credit limit for a transaction. Results in an authorization code from the issuer.
The real-time process of verifying that a payment method has sufficient funds or credit limit for a transaction. Results in an authorization codeAuthorization Code authorization-code
A unique alphanumeric code provided by the issuer upon successful authorization of a transaction. from the issuer. Visa Authorization Basics.
Authorization AmountAuthorization Amount authorization-amount
The transaction value submitted to the issuer for approval. Funds are temporarily held until the transaction is captured.
The transaction value submitted to the issuer for approval. Funds are temporarily held until the transaction is captured.
Authorization Code
A unique alphanumeric code provided by the issuer upon successful authorization of a transaction.
Authorization OnlyAuthorization Only authorization-only
A type of transaction where a card is authorized but not yet captured for settlement. Often used in hotels or car rentals.
A type of transaction where a card is authorized but not yet captured for settlementSettlement settlement
The process of transferring funds from the issuer to the acquirer.. Often used in hotels or car rentals.
Authorized Pending CaptureAuthorized Pending Capture authorized-pending-capture
Transactions that have been authorized but not yet submitted for settlement.
Transactions that have been authorized but not yet submitted for settlement.
AVS (Address Verification Service)
A fraudFraud fraud
Criminal deception involving unauthorized payments or use of financial credentials. prevention tool that compares the billing address provided by the customer with the one on file at the issuing bank. Visa AVS Overview.
B
Back-End ProcessorBack-End Processor back-end-processor
A company or system that processes financial data for acquirers, handling clearing and settlement functions with card networks.
A company or system that processes financial data for acquirers, handling clearing and settlement functions with card networks.
Bank Account NumberBank Account Number bank-account-number
A customer’s account number used in ACH and eCheck transactions.
A customer’s account number used in ACH and eCheckeCheck echeck
An electronic version of a paper check. Funds are withdrawn electronically from the payer’s bank account. transactions.
Bank Account TypeBank Account Type bank-account-type
Indicates whether the provided bank account is a checking or savings account.
Indicates whether the provided bank account is a checking or savings account.
BankcardBankcard bankcard
A card issued by a bank that can be used for payments or cash withdrawals. Includes debit, credit, and prepaid cards.
A card issued by a bank that can be used for payments or cash withdrawals. Includes debit, credit, and prepaid cards.
Basis Points (bps)
A common unit in finance. 1 basis point = 0.01%. Often used to measure interest rates, fees, and interchange pricing.
Batch ProcessingBatch Processing batch-processing
Grouping and processing transactions in bulk, typically at the end of the business day.
Grouping and processing transactions in bulk, typically at the end of the business day.
BillbacksBillbacks billbacks
Adjustments made when a transaction clears at a different interchange level than originally priced.
Adjustments made when a transaction clears at a different interchange level than originally priced.
BIN (Bank Identification Number)
The first six digits of a payment card number. Identifies the issuing bank or institution. Visa BIN Info.
BitcoinBitcoin bitcoin
A decentralized digital currency, often accepted as an alternative payment method.
A decentralized digital currency, often accepted as an alternative payment method. Bitcoin.org.
C
Cannibalization
Occurs when a new payment method (e.g., BNPL) replaces an existing one (e.g., credit card), offering no net sales gain.
CaptureCapture capture
The act of finalizing an authorized payment. Funds are transferred from the cardholder’s account to the merchant.
The act of finalizing an authorized payment. Funds are transferred from the cardholder’s account to the merchant.
Captured/Pending SettlementCaptured/Pending Settlement capturedpending-settlement
A transaction status indicating that the transaction is approved and captured but not yet settled.
A transaction statusTransaction Status transaction-status
Shows the processing stage of a transaction (e.g., authorized, settled, declined). indicating that the transaction is approved and captured but not yet settled.
Card BrandsCard Brands card-brands
Major payment networks such as Visa, MasterCard, American Express, and Discover that manage transaction routing and rules.
Major payment networks such as Visa, MasterCard, American Express, and Discover that manage transaction routing and rules. Visa, MasterCard.
Cardholder
The person or business to whom a payment card is issued.
Cardholder Authentication Verification Value (CAVV)
A cryptographic value used during 3-D Secure transactions to verify the legitimacy of the cardholder and prevent fraud.
Cardinal Consumer AuthenticationCardinal Consumer Authentication cardinal-consumer-authentication
A solution that allows merchants to apply risk-based authentication rules for card-not-present transactions.
A solution that allows merchants to apply risk-based authentication rules for card-not-present transactions. CardinalCommerce.
Card-Not-Present (CNP) TransactionsCard-Not-Present (CNP) Transactions card-not-present-cnp-transactions
Transactions where the card is not physically presented, such as online, phone, or mail orders.
Transactions where the card is not physically presented, such as online, phone, or mail orders.
ChargebackChargeback chargeback
A dispute raised by the cardholder that results in reversal of a transaction. Can lead to penalties for merchants.
A dispute raised by the cardholder that results in reversal of a transaction. Can lead to penalties for merchants. Visa Chargeback Guide.
Chip Card (EMV Card)
A payment card with an embedded microchip for improved security. Used for in-person transactions. EMVCo.
Clearing
The exchange of financial information and instructions between acquirers and issuers to facilitate settlement.
Communication ErrorCommunication Error communication-error
A failure in transmitting payment data due to technical issues. These transactions are usually not settled.
A failure in transmitting payment data due to technical issues. These transactions are usually not settled.
Consumer AuthenticationConsumer Authentication consumer-authentication
Verification processes (e.g., OTP, biometric, 3-D Secure) to confirm cardholder identity.
Verification processes (e.g., OTP, bio
D
Data BreachData Breach data-breach
The unauthorized access and retrieval of sensitive payment information. Often leads to fraud, identity theft, and compliance issues.
The unauthorized access and retrieval of sensitive payment information. Often leads to fraud, identity theft, and compliance issues. PCI Security Standards.
Data Security Standard (DSS)
Refers to PCI DSS (Payment Card Industry Data Security Standard). These are industry-wide requirements to protect cardholder data. PCI DSS Guide.
Debit CardDebit Card debit-card
A payment card that deducts money directly from a consumer’s checking account. May also support ATM withdrawals.
A payment card that deducts money directly from a consumer’s checking account. May also support ATM withdrawals. Visa Debit Overview.
DeclinedDeclined declined
A transaction that is not approved by the issuer. Reasons may include insufficient funds, suspected fraud, or incorrect card details.
A transaction that is not approved by the issuer. Reasons may include insufficient funds, suspected fraud, or incorrect card details.
Digital Wallets
Applications or platforms (like Apple Pay, Google Pay) that store payment card data securely and allow users to pay digitally. Visa Digital Wallet Guide.
Discount RateDiscount Rate discount-rate
A percentage fee charged by acquiring banks on each transaction processed. Typically includes interchange and processor fees.
A percentage fee charged by acquiring banks on each transaction processed. Typically includes interchange and processor fees.
Discover CardDiscover Card discover-card
A U.S.-based card network and issuer offering credit card and banking services.
A U.S.-based card network and issuer offering credit card and banking services. Official Site.
E
eCheck
An electronic version of a paper check. Funds are withdrawn electronically from the payer’s bank account. NACHA eCheck Info.
eCommerceeCommerce ecommerce
Commercial transactions conducted electronically on the internet. Includes digital payments, shopping carts, and fraud prevention.
Commercial transactions conducted electronically on the internet. Includes digital payments, shopping carts, and fraud prevention.
eCommerce Indicator (ECI)
A value used during online transactions to indicate eCommerce activity and trigger additional security checks.
Email AddressEmail Address email-address
Used in digital commerce for customer identification, communication, and fraud prevention.
Used in digital commerce for customer identification, communication, and fraud prevention.
EMV (Europay-MasterCard-Visa)
A global standard for chip card technology that enhances in-person payment security. EMVCo.
EncryptionEncryption encryption
The process of encoding data to protect it from unauthorized access during transmission. Essential for payment security.
The process of encoding data to protect it from unauthorized access during transmission. Essential for payment security.
End-to-End Encryption (E2EE)
Protects payment data throughout its journey from merchant to processor. Often used in POS systems. Visa Tokenization.
Expiration DateExpiration Date expiration-date
The month/year on a card beyond which it becomes invalid. Must be valid for the transaction to be authorized.
The month/year on a card beyond which it becomes invalid. Must be valid for the transaction to be authorized.
F
Fees
Various charges applied to merchants including interchange, assessment, and service provider fees.
Fraud
Criminal deception involving unauthorized payments or use of financial credentials.
Fraud ScoreFraud Score fraud-score
A numeric rating (typically 0-1000) assessing the fraud risk level of a transaction.
A numeric rating (typically 0-1000) assessing the fraud risk level of a transaction.
Friendly FraudFriendly Fraud friendly-fraud
Occurs when a cardholder disputes a legitimate transaction, claiming it was unauthorized.
Occurs when a cardholder disputes a legitimate transaction, claiming it was unauthorized.
G
GatewayGateway gateway
A service that authorizes and processes card payments for online merchants. Examples include Stripe, Adyen, and PayPal.
A service that authorizes and processes card payments for online merchants. Examples include Stripe, Adyen, and PayPal. Visa Gateway Info.
Gift CardsGift Cards gift-cards
Prepaid cards issued by retailers or card networks that allow purchases up to the value loaded on the card.
Prepaid cards issued by retailers or card networks that allow purchases up to the value loaded on the card.
H
HackerHacker hacker
An individual who exploits system vulnerabilities for unauthorized access, often targeting payment systems.
An individual who exploits system vulnerabilities for unauthorized access, often targeting payment systems.
Hosted CheckoutHosted Checkout hosted-checkout
A secure, third-party payment page where transactions are processed, helping merchants comply with PCI DSS.
A secure, third-party payment page where transactions are processed, helping merchants comply with PCI DSS.
I
Interchange FeesInterchange Fees interchange-fees
Fees paid by the merchant’s acquirer to the cardholder’s issuer for transaction processing.
Fees paid by the merchant’s acquirer to the cardholder’s issuer for transaction processing. Visa Interchange Guide.
Interchange NetworkInterchange Network interchange-network
The infrastructure maintained by card brands (Visa, MasterCard, etc.) for routing and settling transactions.
The infrastructure maintained by card brands (Visa, MasterCard, etc.) for routing and settling transactions.
Issuer
A bank or financial institution that issues payment cards to consumers. Responsible for authorizations and chargebacks.
J
JCB (Japan Credit Bureau)
A major credit card issuer and acquirer based in Japan. Accepted globally. JCB Global.
K
Knuckle-BusterKnuckle-Buster knuckle-buster
An old manual card imprinter used before electronic POS systems were introduced.
An old manual card imprinter used before electronic POS systems were introduced.
L
Liability ShiftLiability Shift liability-shift
A risk transfer where the party not supporting EMV or 3-D Secure bears the cost of fraudulent transactions.
A risk transfer where the party not supporting EMV or 3-D Secure bears the cost of fraudulent transactions. Visa Liability Shift.
M
MasterCard
A global payments network enabling electronic transactions between banks, merchants, and cardholders. Official Site.
MasterCard SecureCodeMasterCard SecureCode mastercard-securecode
A 3-D Secure protocol to authenticate cardholders online.
A 3-D Secure protocol to authenticate cardholders online. SecureCode.
MCC (Merchant Category Code)
A four-digit code assigned by card networks to classify businesses by industry. Visa MCC Reference.
Merchant
An individual or business that accepts payments in exchange for goods or services.
Merchant Identification Number (MID)
A unique number assigned to a merchant by their payment processor.
Merchant Plug-In (MPI)
Software that facilitates the implementation of 3-D Secure authentication protocols for eCommerce merchants.
Merchant Service Provider (MSP)
Entities that provide merchants with the tools to accept electronic payments, including acquiring services.
N
NFC (Near Field Communication)
Technology that enables contactless payments using mobile walletsWallets wallets
See Digital Wallets. and tap-enabled cards. Visa NFC.
O
One-Time Password (OTP)
A unique password valid for a single login or transaction, used for enhanced authentication.
Online PaymentsOnline Payments online-payments
Transactions conducted over the internet using card details, digital wallets, or online banking.
Transactions conducted over the internet using card details, digital wallets, or online banking.
P
PCI DSS (Payment Card Industry Data Security Standards)
Standards for secure handling of cardholder data by merchants and service providers. PCI Overview.
PIN (Personal Identification Number)
A secret numeric password used for authenticating card transactions, especially debit cards.
POS (Point of Sale)
The location or terminal where a customer completes a transaction with a merchant.
Processor
A company authorized to process credit and debit card transactions between acquirers and issuers.
PSP (Payment Service Provider)
Companies like Stripe or Adyen that provide end-to-end payment acceptance services.
Q
(No common industry terms under Q)
R
Recurring Billing TransactionRecurring Billing Transaction recurring-billing-transaction
An arrangement where the same card is charged periodically for a subscription or membership.
An arrangement where the same card is charged periodically for a subscription or membership.
Reference Transaction IDReference Transaction ID reference-transaction-id
Used to associate follow-up actions (e.g., refund) with the original transaction.
Used to associate follow-up actions (e.g., refund) with the original transaction.
Re-presentment (Reversal)
When a merchant re-submits a chargebacked transaction with supporting documentation.
RetailerRetailer retailer
A merchant that sells goods or services directly to consumers.
A merchant that sells goods or services directly to consumers.
Retrieval RequestRetrieval Request retrieval-request
An inquiry from the issuer seeking more information about a cardholder’s transaction.
An inquiry from the issuer seeking more information about a cardholder’s transaction.
Routing NumberRouting Number routing-number
Identifies a U.S. bank or financial institution for ACH/eCheck transactions.
Identifies a U.S. bank or financial institution for ACH/eCheck transactions.
S
Sales DraftSales Draft sales-draft
Proof of transaction, can be physical or electronic, used during chargeback disputes.
Proof of transaction, can be physical or electronic, used during chargeback disputes.
Secure Payment PageSecure Payment Page secure-payment-page
A checkout page with HTTPS encryption ensuring consumer data security.
A checkout page with HTTPS encryption ensuring consumer data security.
SecureCodeSecureCode securecode
See MasterCard SecureCode.
See MasterCard SecureCode.
Security
Measures used to protect transaction data from fraud and cyber threats.
Seller AccountSeller Account seller-account
A merchant account established with an acquirer or PSP to accept payments.
A merchant account established with an acquirer or PSP to accept payments.
Seller FeesSeller Fees seller-fees
Charges for processing payments, including monthly account, transaction, and chargeback fees.
Charges for processing payments, including monthly account, transaction, and chargeback fees.
Server
The backend computer system that handles online payment processes and data.
Settled SuccessfullySettled Successfully settled-successfully
Status indicating that funds have been successfully transferred from cardholder to merchant.
Status indicating that funds have been successfully transferred from cardholder to merchant.
Settlement
The process of transferring funds from the issuer to the acquirer.
Settlement AmountSettlement Amount settlement-amount
The final amount transferred after transaction processing.
The final amount transferred after transaction processing.
Settlement Date TimeSettlement Date Time settlement-date-time
Timestamp indicating when the transaction was settled.
Timestamp indicating when the transaction was settled.
Settlement ErrorSettlement Error settlement-error
Issues encountered during the final transfer of funds.
Issues encountered during the final transfer of funds.
Shopping CartShopping Cart shopping-cart
Software on eCommerce sites that facilitates product selection and payment.
Software on eCommerce sites that facilitates product selection and payment.
Smart CardSmart Card smart-card
Chip-enabled card (EMV) used for secure transactions.
Chip-enabled card (EMV) used for secure transactions.
Submit Date TimeSubmit Date Time submit-date-time
Date and time a transaction is submitted into the system for authorization.
Date and time a transaction is submitted into the system for authorization.
T
Tokenization
The process of replacing sensitive card information with a secure token. Visa Tokenization.
Transaction FeeTransaction Fee transaction-fee
Charges incurred per individual transaction by the merchant.
Charges incurred per individual transaction by the merchant.
Transaction IDTransaction ID transaction-id
A unique identifier assigned to each transaction.
A unique identifier assigned to each transaction.
Transaction Status
Shows the processing stage of a transaction (e.g., authorized, settled, declined).
Transaction TypeTransaction Type transaction-type
Classifies transactions as sale, refund, reversal, etc.
Classifies transactions as sale, refund, reversal, etc.
Transactions
Interactions where value is exchanged for goods or services.
U
Unauthorized TransactionUnauthorized Transaction unauthorized-transaction
A transaction not approved by the cardholder. Often reported as fraud.
A transaction not approved by the cardholder. Often reported as fraud.
Under ReviewUnder Review under-review
Transactions flagged for additional verification before processing.
Transactions flagged for additional verification before processing.
Universal Cardholder Authentication Field (UCAF)
MasterCard’s standard for transmitting authentication data for SecureCode. UCAF Details.
V
Verified by VisaVerified by Visa verified-by-visa
Visa’s 3-D Secure solution to authenticate cardholders online.
Visa’s 3-D Secure solution to authenticate cardholders online. Verified by Visa.
Visa
A leading global payment technology company connecting consumers, businesses, and banks. Visa.
VoidedVoided voided
A transaction that is canceled before settlement.
A transaction that is canceled before settlement.
W
Wallets
See Digital Wallets.
WebhostWebhost webhost
A company that stores website files and enables eCommerce functionality online.
A company that stores website files and enables eCommerce functionality online.
X, Y, Z
No common terms