3D Secure Transaction Security

3D Secure is a cardholder authentication protocol used in card-not-present (online) transactions that adds... Read definition

ACH Payment Rails

ACH is a U.S. electronic funds transfer network governed by NACHA that moves money... Read definition

Acquirer Processor Payments Entities

An acquirer processor is a company that provides the technical infrastructure to route, authorize,... Read definition

Assessment Fee Fees & Pricing

An assessment fee is a charge levied by card networks such as Visa, Mastercard,... Read definition

Authorization Transaction Lifecycle

Authorization is the real-time process by which a merchant requests approval from a cardholder’s... Read definition

AVS Transaction Security

AVS, or Address Verification System, is a fraud prevention tool used in card-not-present transactions... Read definition

Batch Processing Transaction Lifecycle

Batch processing is the method by which merchants accumulate authorized transactions throughout the day... Read definition

Card-Not-Present Transaction Lifecycle

Card-not-present (CNP) refers to any payment transaction where the physical card is not present... Read definition

Card-Present Transaction Lifecycle

Card-present refers to any payment transaction where the physical card is available at the... Read definition

Chargeback Fraud & Risk

A chargeback is a forced reversal of a payment transaction initiated by a cardholder... Read definition

Chargeback Ratio Fraud & Risk

Chargeback ratio is the percentage of a merchant’s transactions that result in chargebacks within... Read definition

Clearing Transaction Lifecycle

Clearing is the process by which completed transaction data is submitted to the card... Read definition

Contactless Payment Transaction Security

Contactless payment is a method of card-present transaction where the cardholder completes a payment... Read definition

Direct Deposit Payment Rails

Direct deposit is the electronic transfer of funds directly into a recipient’s bank account... Read definition

Dispute Fraud & Risk

A dispute is a formal challenge to a payment transaction initiated by a cardholder... Read definition

EMV Chip Card Transaction Security

An EMV chip card is a payment card embedded with a microprocessor chip that... Read definition

NFC Payment Rails

NFC, or Near Field Communication, is a short-range wireless communication technology that enables two... Read definition

PAN Transaction Lifecycle

A PAN, or Primary Account Number, is the unique numerical identifier embossed or printed... Read definition

Payment Facilitator (PayFac) Payments Entities

A payment facilitator, or PayFac, is a company that has been approved by an... Read definition

Payment Network Payments Entities

A payment network is the organization that operates the infrastructure, rules, and brand under... Read definition

Point of Sale (POS) Infrastructure & Technology

A point of sale, or POS, refers to the location and system where a... Read definition

Real-Time Payments Payment Rails

Real-Time Payments, or RTP, refers to payment systems that process and settle transactions within... Read definition

Settlement Transaction Lifecycle

Settlement is the process by which funds are transferred between financial institutions following the... Read definition

Soft Decline Transaction Lifecycle

A soft decline is an authorization decline that is temporary in nature and may... Read definition

Sub-merchant Payments Entities

A sub-merchant is a business that accepts card payments through a payment facilitator’s master... Read definition

Tiered Pricing Fees & Pricing

Tiered pricing is a merchant processing fee structure that groups all transactions into a... Read definition

Tokenization Transaction Security

Tokenization is the process of replacing sensitive payment card data, specifically the primary account... Read definition

Velocity Checks Fraud & Risk

Velocity checks are fraud prevention controls that monitor the rate at which specific identifiers... Read definition

Wire Transfer Payment Rails

A wire transfer is an electronic funds transfer that moves money directly between bank... Read definition