Glossary

TERM DEFINITION
3D Secure An additional security feature by MasterCard (SecureCode) or Visa card (Verified by Visa) to protect merchants and card holders against fraudulent online transactions
Acquiring Bank An acquiring bank (or acquirer) is the bank or financial institution that accepts payments for the products or services on behalf of a merchant.
API Application Programming Interface
Batch Sending more than one transaction in a .csv format to be processed
Card Issuing Bank The financial institution that issued the card holder with a credit or debit card
Card Holder The customer who is making a payment using a credit card or debit card
Chargeback A chargeback is the return of funds to a consumer forcibly initiated by the consumer's issuing bank
DPS Direct Payment Solutions
Payment Express Hosted Payment Express hosts the payment page the card holder is redirect to a 3D secure capable page on the Payment Express website
IVR Interactive Voice Response ability to accept credit card payments by via an automated touch tone phone system
Merchant The entity conducting business which accepts payments for its products or services
Merchant Account A business account you set up with your Acquiring Bank that allows processing of credit card payments
Merchant Hosted The payment page is hosted on the merchant's website the cardholder never leaves the merchants website
Merchant Service Fee A percentage of the retail sale the merchant pays as a fee to their Acquiring Bank for processing the credit card transaction
Payment Express Payment Express is a Visa and MasterCard certified solution which facilitates electronic payments seamlessly from multiple access points i.e. Web / EFTPOS / Billing / IVR (Interactive Voice Response) / CRM / Vending / MOTO (Mail Order / Telephone Order) and Wireless
PCI DSS Payment Card Industry Data Security Standard technical and operational requirements that were created to help organisations that process card payments prevent credit card fraud hacking and various other security vulnerabilities and threats
PCI PED Payment Card PIN Entry Device a security standard which applies to manufacturers who create terminals used for payment card financial transactions
POS Point of Sale software used to calculate product pricing to send to the EFTPOS terminal
PxPay2.0 A Payment Express Hosted API using XML to post transactions
PxPost Merchant Hosted API used for posting transactions using XML
Recurring Billing Multiple transactions from the same credit card