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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.

  • 3D Secure

    3D secure - as known as payer authentication - is a technical standard that adds a layer of security in online credit and debit card transactions.

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  • Acquiring Bank

    An institution that has the authorization to process a transaction and manage communication between credit associations and businesses.

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  • Alternative Payments

    All the ways to pay online beyond credit and debit cards we can call alternative payments, as an example, online transfers through the Internet Banking.

  • Boleto Bancário

    Boleto Bancário is a printable voucher that Brazilians use to pay for their bills and has become one of their preferred online payment methods.

  • Credit Card

    A payment method that enables the cardholder making transactions within a credit limit and pays only in the recurring month.

  • Credit Card Schemes

    A payment network linked with credit cards that allow to issue or acquire the cards operating on the network of that scheme.

  • 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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  • Debit Card

    A card that enables the user to make purchases. The payment is charged in the moment of the transaction accessing directly the user banking account.

  • Fraud Prevention

    Is a set of strategies focused on preventing the transactions from fraudsters and providing business protection.

  • 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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  • Installments

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

  • 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.

  • 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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  • Payment Methods

    The method by which a payment is made. These are credit cards, debit cards, boleto, online transfer, ACH transactions, e-wallet transactions, and on.

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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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  • Recurring Payments

    A recurring payment is a transaction that repeats multiple times on a specific date range and is charged on a periodic basis, such as online software.

  • Refund

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

  • 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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