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electronic-payments.co.uk
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Definitions (61)
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Electronic paymentsAbout electronic payments
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acquiring bankThe bank that supplies merchant services.
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Address Verification ServiceA system that permits the verification of a card user’s address against the address held for the card.
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Address verification serviceA system that permits the verification of a card user’s address against the address held for the card.
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APIAPI (application programming interface) allows different applications to link together.
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BacsBank automated clearing system. An electronic payments method primarily used for large volumes of transactions such as payroll and regular business to business client and customer payments.
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BácsBank automated clearing system. An electronic payments method primarily used for large volumes of transactions such as payroll and regular business to business client and customer payments.
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Bespoke integrationWhen an electronic payment solution requires an experienced programmer, a bespoke integration will be necessary.
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BondA quantity of funds supplied by the merchant to cover the exposure of the acquiring bank.
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captureThe process of collecting funds from a card account once authorisation has taken place.
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