Merchant Payments Glossary
Search and explore key payment terms used across merchant services and financial technology.
Acquirer (Acquiring Bank)
A financial institution that processes card payments for merchants.
Authorization
Approval process confirming sufficient funds are available.
AVS (Address Verification System)
Security system used to verify a cardholder’s address.
Chargeback
A transaction reversal initiated by the customer.
Contactless Payment
Tap-to-pay using NFC-enabled devices or cards.
Payment Gateway
Technology that securely transmits transaction data.
Interchange Fee
Fee paid between banks for card transactions.
Merchant Account
Account that allows businesses to accept card payments.
POS (Point of Sale)
System used to process transactions.
PCI DSS
Security standards for handling card data.
Settlement
Transfer of funds from customer to merchant.
SoftPOS
Technology allowing phones to accept payments.
Tokenization
Replacing sensitive data with secure tokens.
Tap to Pay
Contactless payment method using NFC.
