A Standard On the web Payment Processing Glossary
De BISAWiki
Address Verification Provider (AVS) - A fraud protection services presented by means of MasterCard and Visa that instantly checks the billing handle supplied by a consumer towards the billing handle the credit rating card organization has on file. After checked, AVS gives merchants a return code that indicates how properly the addresses match and it is up to the merchant to assess the threat and make a decision if they want to allow the acquire.
Batch - A assortment of on-line transactions that are processed as a team, this sort of as orders that are batched for authorization.
Card Authorization - This merely refers to the procedure of checking for sufficient or licensed resources in a cardholder's account.
Capture - The procedure of converting the complete sum of an licensed transaction into a transaction that can be immediately deposited into a retailer's service provider account.
Demand-again - A demand-back again occurs when a client disputes a transaction and their issuing bank or credit rating card firm forcibly initiates the return of the money to the client.
Service provider Account - A merchant online payment processing account is a kind of bank account that allows on the web merchants to acknowledge credit card payments right on their site. The account serves as an settlement amongst the service provider, the financial institution that supplies the service provider account, and the payment processor to settle all credit score card transactions received on the internet site.
3rd-Party Processors - For merchants that do not qualify or do not want a service provider account, a third-celebration processor is a business that procedures payments (e.g. credit rating playing cards) on behalf of a merchant. With most 3rd-celebration processors, clients are usually forwarded from the merchant's web site to the payment processor's web site to complete the transaction.
Payment Gateway - Utilized in conjunction with a merchant account, a payment gateway is an on-line payment processing service provider that in fact authorizes credit history card payments. It is the on-line equal of a credit score card swipe equipment utilized in several brick-and-mortar retail stores.
Shopping Cart - Purchasing cart application is a method or software that permits on-line shoppers to decide on numerous products on a website and obtain them when completely ready. The application immediately calculates the complete cost of entire orders for clients. Purchasing cart software must be compatible with payment gateway services.
