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Acquiring Bank
Acquiring Payment Service Provider
Address Verification Service
Alternative Payment Methods
American Express Card
American Express Merchant Services
API
Application
Authorisation
AVS
B2B
BACS
Bank of Ireland
Bank of Scotland Merchant Services
Banks Automated Clearing System
Barclaycard Merchant Services
Bespoke Integration
Bin Range Restrictions
Bond
Borrowing cost
Bureau
Business to Business
Capture
Card Verification Code
Cash Payments / Top Ups
Catalogue
Ceiling Limits
Chargeback Insurance
Chip and Pin
Co Branding with Payment Solution
Cold Fusion
COM ASP (IIS)
Credit Card
Cross Border
CSC
Customer Not Present
Customer Present
CVV2
Debit Card
Diners Club
Diners Club Card
Discover
Ecash
Encryption
Exposure
Fraud
Fraud Guarantee
Fraud Screening
Fulfilment
Fully Brand-able to Merchant's Site
Funding rate
HSBC
HTTP Post
Implementation
IMS
In House Fraud Control System
Internet Merchant Service
Java Servlets
JCB
Lloyds TSB Cardnet
Lotus Script
Maestro
Mail Order
Mastercard
MasterCard SecureCode
M-commerce
Merchant Service
Merchant Service ID
Method Split
Micro-Billing
Miscellaneous Features
Mobile Commerce
Mobile Payment Service Provider
Offline
Online
Online Catalogue
Overdraft
P2P
Pay As You Go
Payment Service Provider
Paymentech (USA and Canada)
PDQ Machine
Periodic Billing
PERL CGI
Person to Business
Person to Person
PHP
PKI
Post-Paid Account
Pre Authorisation
Pre-Paid Cash Card
Prepaid Debit card
Private Circuits
PSP
Public Key Software Infrastructure
Refund
Retail Decisions
Reversals
Secure Electronic Transaction
Secure Form
Secure Server
Secure Sockets Layer
Security Features
SET
Settlement Period
Shopping Cart
SME
SMS
Solo
SSL
Streamline
Style card
Swipe Card Machine
Switch
The 3rd man
Transaction Frequency
Transaction Report
Transaction Value
Ulster Bank
Verified by Visa
Virtual terminal
Visa card
Visa Delta
Visa Electron
VPN
XML
XML-RPC
The bank that supplies Merchant Services.
Acquiring Payment Service Provider
Provider combines Merchant Services with Payment Service Provider services - this is offered by some of the UK banks.
A system that permits the verification of a card users address against the address held for the card.
The Electronic Payments Tool refers to all non credit/debit card payment solutions as "Alternative" because they currently form a minority of transaction volumes.
Premium credit card, well known for its corporate perks and fringe benefits.
American Express Merchant Services
American Express Acquiring services. If the merchant wishes to accept American Express cards they must have an additional (to their main acquiring bank) acquiring service.
Application Programming Interface, allows different Application to link together.
Another term for software, in the context of electronic payments, most payment service providers run server based applications to process card details.
The process of validating card details to process a transaction.
Address Verification Service .
Banks Automated Clearing System.
Merchant services supplied by the Bank of Ireland for processing Euro transactions.
Bank of Scotland Merchant Services
Merchant services supplied by the Bank of Scotland.
Banks Automated Clearing System
An electronic payments method primarily used for large volumes of transactions such as payroll and regular business to business client & customer payments.
Merchant services run by Barclays bank.
When an electronic payment solution requires an experienced programmer, a bespoke integration will be necessary, could be expensive relative to integrating with a listed shopping cart.
A method of restricting, by geographical location, where cards are accepted.
A quantity of funds supplied by the merchant to cover the Exposure of the Acquiring Bank .
The cost of borrowing funds, in the context of the electronic payments tool, we assume that businesses are having to pay the Funding Rate {hyper} for the Bond and for the Settlement Period .
A service provider that collects card payments from consumers on the behalf of small SME merchants. A bureau would be chosen if dedicated merchant services are too expensive.
Supplier customer relationship is between two businesses.
The process of collecting funds from a card account once Authorisation has taken place.
Also CVV2 or CSC. The three digit number that is printed on the back of a card that is used for extra confirmation that the card user has the original card. It is not printed on any documentation connected with a card.
Used to load money into Ecash cards.
Software that allows easy update and maintenance of a range of products in an e-commerce site, usually part of a Shopping Cart package.
Upper price level for individual transactions that can be set by the merchant with their Payment Service Provider .
Insurance policy to cover a business against a specific risk of charge bank and would normally be set against the bond.
A new security measure for cardholder present transactions whereby the card user types in a pin instead of signing a sales receipt. See: http://www.chipandpin.co.uk/.
Co Branding with Payment Solution
Feature of a Payment Service Provider that allows the merchant site interface to be customised with the merchant logo or text.
Proprietary web database platform, owned by Macromedia.
Proprietary web database platform, owned by Microsoft.
A card that allows a retail or business consumer to make small purchases using a card and account where there is a predetermined borrowing arrangement up to a fixed monthly level.
Transactions occurring between countries or jurisdictions.
A type of card transaction where the customer is not physically present to sign a sales voucher but able to authorise transaction over the internet, by mail or on the end of a phone line.
A type of card transaction where the customer is physically present so sign a sales voucher.
A card that allows a retail or business consumer to make small purchases using a card that debits from a bank account.
Merchant services that are compulsory for taking diners club cards.
Premium credit card, well known for its corporate perks and fringe benefits.
A specialised form of Debit Card.
The process of encoding a file, for example a credit card number, so as to protect it when it is transferred over the internet .
A measure of the risk that an Acquiring Bank will be exposed to when it offers a merchant credit and debit card services .
A process of deliberately deception to gain goods or services, in the case of credit cards, this might be through the use of a stolen card number.
A guarantee offered by Payment Service Providers or Acquiring Banks to protect the merchant against fraud on their account.
A process of screening out potentially fraudulent transactions, for instance from certain geographic regions.
The final stage of a purchasing transaction where the goods are delivered to the customer.
Fully Brand-able to Merchant's Site
The provision of a fully graphically customisable Payment Service Provider service.
The interest rate charged for borrowing a sum of money - in the context of electronic payments, to fund a bond.
Merchant services run by HSBC.
One of the standard web protocols for transferring data from the client browser to the web server.
The process of putting into practical effect the chose electronic payments solution or software platform.
A proprietary Fraud control system run by a electronic payments solution provider.
The separate Merchant Service that must be set up in order to take card payments through a Payment Service Provider .
Server side programming components writing in Sun Java.
Japanese Central Bank credit card.
Merchant services run by Lloyds TSB.
A script language developed for integration with the IBM lotus platform.
International debit card and ATM cash card.
Ordering of products or services by a written and posted communication.
One of the most common internationally recognised credit cards.
An added security feature, the online equivalent of Chip and Pin, run by MasterCard. Very similar to Verified by Visa. See: http://www.mastercard.com/securecode/securecode_main.html
Mobile Payment Service Provider.
A service supplied in general by the Acquiring Banks to enable a merchant to take card payments.
The ID used to identify a particular merchant's Merchant Service.
The proportionate split between different payment methods such as credit cards and debit cards. This is relevant because of the different charging structures used by different methods. A visa transactions might cost a merchant 2.5% whilst a switch transaction would cost the merchant 35 pence.
Technologies that allow customers to be billed small amount of money at a time, for instance, by using a premium rate number.
Features that are listed in the electronic payments datasheets that do not conform to the standard product feature categories.
A term coined to refer to generically to transactions that are made or facilitated using mobile devices.
Mobile Payment Service Provider
A service provider that uses some form of mobile phone authentication for a transaction.
Used to denote transactions that occur through traditional methods as opposed to online methods.
Used to denote transactions that occur through web based, electronic methods as opposed to traditional methods.
Displaying a range of products in a website in the familiar catalogue format. Most e-commerce software allows the building and maintenance of a catalogue.
The facility that allows a bank customer to draw from their bank account, beyond the funds that they have deposited, usually to an agreed overdraft borrowing limit.
Prepaid Debit Card.
Also PSP. A service provider that interfaces between merchant websites and Acquiring Bank Merchant Services.
US and Canada based Acquiring Bank.
Credit card processing machine that allows the merchant to physically "swipe" the card of the customer and authorise a transaction. A PDQ machine is connected to the acquiring bank via a telephone line.
Setting up of regular payments via an electronic payments solution.
Perl is a high level programming language used to develop CGI scripts that are used extensively for web based forms.
Common terminology used for when a transaction is between a person and a business.
A service provider that allows micro business or individuals to transact without the use of an acquiring or bureau services. Not suitable for volumes or transactions.
A server-side, cross-platform, HTML-embedded scripting language used to create dynamic web pages. PHP is Open Source software.
Public Key Software Infrastructure .
This is one where a customer registers their name, address and an ongoing settlement method for that account (usually credit card, debit card or online direct debit). A username and password is set up for the account holder. Thereafter, the account holder can make purchases on member sites inputting only their username and password. This type of account is settled periodically, usually monthly.
The authorisation of a quantity of funds from a credit card without actually charging the card for that sum of money. Often used in situations where a reservation needs to be made.
A type of electronic payment solution that allows the user to "charge" a smart card with money that can later be spent with compatible retailers (both online and offline).
A service provider that uses a prepaid e-cash card as a payment vehicle.
A leased line (could be telecom or internet) used for increased security in the transmission of transactional data.
Public Key Software Infrastructure
Also PKI. A system of public key encryption using digital certificates from Certificate Authorities and other registration authorities that verify and authenticate the validity of each party involved in an electronic transaction.
When the seller has to give the customer their money back.
Proprietary solution for adding extra protection against fraud.
The ability for a merchant to reverse a card transaction. The most common instance of this would be for a refund for returned good. Might also be instituted if the merchant thought that a card had been used fraudulently.
The SET™ Specification, is an open technical standard for the commerce industry developed by Visa and MasterCard as a way to facilitate secure payment card transactions over the Internet.
A form on a webpage that exchanges data between the web server and the clients browser using a secure protocol such as SSL.
A web server that is protected by various security and encryption protocols to enable the safe processing of transactions.
A protocol designed by Netscape Communications Corporation to provide encrypted communications on the Internet. SSL is layered beneath application protocols such as HTTP, SMTP, Telnet, FTP, Gopher, and NNTP and is layered above the connection protocol TCP/IP. It is used by the HTTPS access method.
Security features pertinent to an electronic payment solution that are listed on this sites datasheets.
Secure Electronic Transaction.
The time taken from the moment a transaction is completed to the point where the funds are available to the merchant.
The software package that is used to run and maintain the standard web e-commerce enabled product catalogue.
Small and Medium-sized Enterprise .
Short Message Service. Using SMS, a short alphanumeric message (160 alphanumeric characters) can be sent to a mobile phone to be displayed there, much like in an alphanumeric pager system. The message is buffered by the GSM network until the phone becomes active.
Another card product offer by switch.
Merchant services run by NatWest and Royal Bank of Scotland.
Retail orientated credit card.
Common UK based debit card. Will be superseded by maestro over the coming years.
Proprietary fraud prevention system run by Protx.
A report supplied by an electronic payments provider that lists transactions that have been completed.
Merchant services run by Ulster bank.
An added security feature, the online equivalent of chip and pin, run by Visa. Very similar to MasterCard SecureCode. See: http://www.visaeu.com/acceptingvisa/verifiedbyvisa.html
A web based virtual swipe card terminal, that allows merchants to charge or refund cards using their Payment Service Provider or Bureau service.
One of the most common internationally recognised credit cards.
Debit card that uses the visa system .
Debit card that uses the visa system.
Virtual Private Network. The use of encryption in the lower protocol layers to provide a secure connection through an otherwise insecure network, typically the Internet. VPNs are generally cheaper than real private networks using private lines but rely on having the same encryption system at both ends. The encryption may be performed by firewall software or possibly by routers.
Extensible Mark-up Language. An initiative from the W3C defining an "extremely simple" dialect of standardised generalised mark-up language suitable for use on the World-Wide Web.
Usage of XML communication as a remote procedure call.
