Glossary

3-D Secure (3DS)   A technical standard that adds security to online Card Not Present transactions by authenticating the customer as the owner of the payment card account.
Access Token   A cryptographically secure credential that allows merchants to access the API.
Acquirer/Acquiring Bank   A bank or financial institution that processes credit or debit card transactions on behalf of a merchant. The acquirer sends the merchant's transactions to the customer's issuing bank through the card network.
Authorization   The process when the card issuer verifies a payment transaction sent by a card network and issues an authorize or reject response. If the issuer authorizes the transaction, funds are reserved against the customer's account.
AVS   The Address Verification Service verifies customer-supplied billing address information against the billing address on file at the issuer for Card Not Present transactions.
BIN   The first 4-6 digits of the unique card number (PAN) = Bank Identification Number. Identifies the card network and the issuer. Sometimes referred to as the Issuer Identification Number (IIN).
Capture   The process of charging the customer's account for a previously authorized transaction. The issuer does this once the merchant sends a capture request, indicating that the purchased goods or services are ready for shipment to the customer.
Card Network   Payment networks that determine where a card can be used and facilitate the payment process between merchants and customers. Common card networks include Visa, MasterCard, American Express and Discover. Note that American Express and Discover are also card issuers as well.
Card Not Present (CNP)   A transaction made when the card cannot be physically used, e.g. in an online store.
Card Number/PAN   The unique number associated with a payment card. The entire number is known as the Primary Account Number (PAN). The first 4-6 digits are the Bank Identification Number (BIN).
Card Security Code   A term which encompasses all of the verification codes used by the different card networks. See CID, CVC, or CVV.
Chargeback   A process by which a customer disputes the payment and often results in the money being refunded to the customer by the issuing bank unless the merchant can show the transaction is valid.
CID   Card Identification - A 4-digit card verification code on an American Express payment card.
Credit   A primary transaction that transfers money from a merchant to a customer.
Cryptogram   A limited- or single-use key that links the payment token to the actual payment account number. Required by the token service provider to match the actual account number to the token and continue processing the payment.
CSR   A Certificate Signing Request used with Apple Pay.
Customer   A person or company that buys goods or services from a merchant.
CVC   Card Verification Code (CVC2) - A 3-digit verification code on a Visa payment card.
CVV   Card Verification Value (CVV2) - A 3-digit verification code on a MasterCard payment card.
DCC   Dynamic Currency Conversion - gives foreign customers the choice to pay for goods and services purchased in their home currency
DPAN   Device-specific Primary Account Number. An encrypted, tokenized value of payment account information tied to a mobile device. Used by Apple Pay.
Forced Ticket   A transaction that immediately captures a transaction previously authorized outside of the payment gateway (for example, by phone).
FPAN   Funding Primary Account Number
HMAC   Hash-based Message Authentication Code, used to ensure secure transmission of transactions.
Idempotency   A property of an operation that states that clients can make that same call repeatedly while producing the same result. Our REST API uses the client_request_id element to ensure idempotency on transaction requests.
Issuer/Issuing Bank   A bank or financial institution that issues credit or debit card to customers and backs the payments made from the card. The issuer receives transactions from the card network and authorizes or rejects them. Upon capture the issuer sends funds and adds the transaction to the customer's account.
Merchant   A person or company that sells goods or services to a customer.
Order   A way to combine related transactions in a logical sense. An order contains one primary transaction and can contain one or more secondary transactions.
PAN   Primary Account Number. See card number.
Payment Token   A cryptographically secure representation of payment instrument details for use with subsequent payment transactions. This token may be generated for a single use or for multiple uses. By making use of a payment token, the merchant does not need to store sensitive payment details on their servers.
PCI DSS   Payment Card Industry Data Security Standard - Published security standards for the handling of payment card data.
Post-Auth   A secondary transaction that completes a pre-auth transaction and charges the customer's account. See Capture.
Pre-Auth   A primary transaction that verifies that the funds are available through the payment instrument but does not capture those funds. See Authorization. The final amount of the transaction can be less than the pre-auth amount. For example, if an item is out of stock or cannot be otherwise provided by the merchant the final amount will be less than the pre-auth amount.
Primary Transaction   The main independent transactions between a customer and a merchant. See Credit, Pre-Auth, Sale, and Forced Ticket.
Recurring Transaction   A  transaction where the merchant charges for goods or services at a defined frequency (for example, a monthly subscription.)
Return   A secondary transaction used to transfer money back to a customer account once goods or services have been returned to the merchant.
Sale   A primary transaction that authorizes and captures the funds from the payment instrument.
Secondary Transaction   Additional actions that can be done to change the state of an already existing primary transaction. See Post-Auth, Return, Split Shipment, and Void.
Split Shipment   A secondary transaction that charges for only part of the goods or services on a Preauth transaction.
Void   A secondary transaction that reverses a previous transaction.