Resources

Payments Explained

The Payments Explained is a complete glossary that defines the main terms and concepts commonly used in the payment industry. In just a click you can access great articles and easily learn more about the payments world.

  • Central bank of brazil

    Just like any other central bank from other nations, the Central Bank of Brazil - in Portuguese: Banco Central do Brasil (BCB or BACEN) - is the main institution responsible for the country’s financial infrastructure.

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  • Chinese currency (yuan/renminbi)

    This article, therefore, is here to help you understand a key aspect for anyone who is willing to do business in China: its currency.

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  • Card testing

    A kind of fraudulent activity where a fraudster tries to determine if stolen card information can be used to make purchases.

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  • Chilean peso

    Whether you’re investing in a business or the country itself, there’s a good reason to keep an eye on Chile. Learn everything about Chilean Peso.

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  • Contactless payments

    An increasing trend, contactless payments are a popular way for merchants to receive money for their goods and services. See how does it work.

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  • Credit card declines

    Credit card decline is when for different reasons, a credit card payment cannot be processed and the transaction is declined.

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  • Credit card schemes

    With card schemes, your customers can make purchases and pay bills, online or in-store, without the need for cash or cheques. Learn about card schemes.

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  • Credit card

    Learn all about one of the most used payment method in Latin America and why you need to accept it in your online store.

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  • Cross-border payments

    Cross-border payments defined as funds paid to or taken in from different countries, so the location where the merchant is registered is different from the country where the customer's card was issued.

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  • Chargeback

    A chargeback is the act of a customer filing for the return of their funds directly with the bank, that can happen for different reasons.

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  • Deflation

    In this article we discuss what causes deflation in the economy, types of deflation, and If deflation is good or bad. Find out more!

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  • Debit card

    Learn all about one of the most used payment method in Latin America and why you need to accept it in your online store.

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  • Efecty

    Get to know how Efecty payment works and which reasons make it so important for digital commerces to offer it when selling to Colombians.

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  • Electronic funds transfer

    Digital payment is the way of today, and tomorrow, and that means any business, large or small, needs to take advantage of electronic transactions.

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  • Electronic draft capture (edc)

    Sometimes also referred to as remote deposit capture, EDC is essential to every commerce-based business.

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  • E-wallets

    Payments become more efficient and convenient for buyers using online platforms. Learn more about e-wallets and digital wallets.

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  • Foreign exchange

    Currency transactions happen at all hours all over the globe, and their values are in constant flux. See how Foreign Exchange works.

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  • Fintech

    Fintech is one of the fastest growing sectors in the digital world, and in fact, it could be the most influential. Learn more about fintech.

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  • Fraud prevention

    Are strategies focused on preventing the transactions from fraudsters and provide business protection.

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  • Hosted payment page

    It is a third-party checkout web form that handles electronic transactions (payments made with credit and debit cards).

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  • Instant boleto

    Discover the importance of instant boleto payments for digital commerces and why it is a better alternative than standard boletos.

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  • Identity theft

    Is the crime of obtaining personal or financial information, such as identity data or driver's license.

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  • Inflation

    Inflation means that the prices are rising and there can be various factors that could be the reason for this. Learn more about how inflation works.

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  • Intelligent payment routing

    Everything you need to know about Intelligent Payment Routing and how it can affect your business.

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  • Installments

    A popular payment method that splits up the total amount due to monthly payments, allowing customers to make higher prices purchases.

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  • Local acquiring

    In this article you will know about the concept and all advantages that local acquirers have over international ones.

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  • Mass payout

    Mass payouts are basically a method that automates the process of paying a large number of recipients, or contractors, simultaneously and online.

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  • Merchant service provider

    What is the meaning of Merchant Services Provider? Keep reading to find out all about merchant providers and how to choose the best one for you.

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  • Nequi

    Nequi is a popular payment method that can boost sales and allow businesses to expand their customer base because of the fast-growing number of digital wallet users in Colombia.

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  • One-click payment

    What is a one-click payment method? Let's see how a single click payment system works, its benefits, and how it is related to a one-click checkout.

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  • Oxxo

    OXXO invoice is a payment method which is widely used by Mexicans to pay for their utility bills and even online purchases, in cash.

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  • Payee

    You might have found the term “payee” somewhere. So, what is it? Let us clarify the payee meaning for you!

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  • Pix troco

    PIX Troco (Change) is an evolutionary PIX feature that allows its users to receive change in their purchases in Brazil. See how does it work.

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  • Pix saque (withdrawal)

    In this article you will learn more about PIX Saque (Withdrawal), one of the new features recently added to the PIX universe. 

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  • Payout

    A Payout is a solution that allows you to pay your local service providers, suppliers, gig workers, and partners in Latin America.

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  • Pix

    PIX is the system created by the Brazilian Central Bank to bring instant payments to life. It is through PIX that all wallets that use QR Codes will be interoperable.

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  • Payment reconciliation

    The best way to ensure good financial standing is to establish a payment reconciliation protocol. See how Payment Reconciliation works.

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  • Payment service provider

    Payment Service Providers work on the backend of the e-commerce and bring all the main parties involved in the transactions together.

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  • Psd2

    PSD2 is the new EU financial directive. It obliges banks to open up their data in a secured form so that it can be shared between Third Party Providers.

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  • Payment authentication

    In this article, we’ll take a closer look at different payment authentication methods.

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  • Payment processing

    Is the entire process of an online payment transaction which involves different players such as the payment processor, the acquirer and issuer bank.

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  • Pci dss

    PCI DSS: Payment Card Industry Data Security Standard is a set of 12 security standards designed to ensure that all the card payments are being processed safely.

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  • Payment gateway

    A payment gateway is a mechanism that assures security and facility sending credit card information from the merchant's website to the payment processor.

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  • Remittance

    Commonly used for international money transfers, remittance transactions are a popular mode of payment. Learn more about Remittance.

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  • Recurring payments

    Find out what is the definition of automatic recurring subscription payments and how these monthly charges and fees can help your business model.

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  • Refund

    When a customer buys a product our service and after asks for his money back so the merchant needs to make a reimbursement.

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  • Servipag

    Counting with more than 350 branch offices and 4000 agencies in Chile, Servipag can be considered the country's best payments platform. See how it works and all benefits in offering it.

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  • Swift code

    SWIFT stands for Society of Worldwide Interbank Financial Telecommunication. See how does it work.

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  • Subscription payment

    For businesses with a product or service that can be offered over time, subscription payments are a quick and reliable way to retain customers.

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  • Tokenization

    Tokenization is the process to create tokens to protect customers’ sensitive data by replacing it with algorithmically generated numbers and letters.

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  • Via baloto

    Via Baloto is the main lottery and payment service in Colombia, reaching 96% of the Colombian population.

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