Glossary

Bank or payment institution that signs merchants and routes their card transactions into the card networks.

A set of rules and protocols that allows different software applications to communicate with each other.

Mobile wallet by Apple that tokenizes cards for contactless and in-app payments.

A model where licensed banks expose banking capabilities to other companies via APIs, letting them embed accounts, cards, or payments.

A platform layer for APIs, integrations, and data pipelines that connect core systems.

Unauthorized card use or theft of credentials to initiate transactions.

Payment network (e.g., Visa/Mastercard) that sets rules and routes card transactions between issuers and acquirers.

Transactions where the card is not physically presented (e.g., online or in-app).

Transactions where the physical card is read at POS (chip, contactless, or magstripe).

California law granting consumers rights over their personal information and imposing duties on businesses.

Tool that syncs availability, pricing, and inventory across sales channels.

A forced payment reversal initiated by the cardholder’s bank after disputing a transaction.

Meeting regulatory, security, and contractual requirements for operating a product or service.

Platform to create and publish digital content across sites, apps, and channels.

Card that lets cardholders borrow up to a limit and repay later; funds settle via the issuing bank.

Tools and processes to store customer data, track interactions, and run engagement.

Export format for the German DATEV accounting system, used to transfer bookings and tax data.

Card that pulls funds directly from a bank account at purchase time.

Application that stores payment instruments and enables checkout with tokens or credentials.

A fee withheld by a payment provider from each transaction, effectively reducing the payout.

Outbound payment from a platform to a recipient, such as payouts to merchants or gig workers.

Embedding financial products (payments, cards, lending) inside non-financial apps.

System that unifies finance, procurement, inventory, and operations data.

Tools and models that score transactions or accounts to block or step-up risky activity.

EU privacy regulation governing personal data processing, rights, and safeguards.

Domestic debit card system (e.g., Germany) that clears directly against bank accounts via local rails.

Google’s wallet that tokenizes cards for contactless, in-app, and web payments.

U.S. law setting privacy and security rules for protected health information (PHI).

Temporary reservation of money before capture or payout, often for risk or authorization checks.

Checkout pages hosted by a payment provider to collect payment details and handle compliance.

Systems for staffing, scheduling, payroll, and compliance across teams.

Fee paid by the acquirer to the issuer on each card transaction; funds scheme incentives and risk.

International standard for information security management systems (ISMS).

Bank or fintech that issues payment cards to cardholders and authorizes their transactions.

Identity and business verification required to onboard customers or merchants and prevent financial crime.

System of record that tracks debits and credits for balances, payouts, and fees.

A business that accepts payments for goods or services via card or alternative rails.

Replacing card PANs with scheme-issued tokens to reduce fraud, improve authorization rates, and keep credentials current.

A service provider that routes payment data between merchants, acquirers, and schemes.

Security framework that sets technical and procedural requirements for handling cardholder data.

Transfers of funds between individuals, often via wallets or bank rails without a merchant in the flow.

The place and system where in-person sales are captured, payments are taken, and receipts are issued.

Core system for hospitality to manage rooms, reservations, housekeeping, and billing.

Tool that optimizes pricing and availability using demand, compset, and inventory data.

Audit report on controls relevant to financial reporting (SSAE 18).

Audit report covering security, availability, confidentiality, processing integrity, and privacy controls.

Consumption tax applied on goods and services, collected at each value-add step.