Payments Glossary
A complete reference of payments terms from participant types to transaction processes.
Multi-Currency Settlement
Multi-currency settlement enables merchants to receive funds in transaction currencies rather than converting everything to a base currency.
Risk Engine
A payment risk engine evaluates transactions against rules and scoring models in real time to make approve, decline, or review decisions.
Dynamic Currency Conversion
Dynamic Currency Conversion lets international cardholders pay in their home currency at point of sale, with conversion performed at a marked-up rate.
ML Fraud Detection
ML fraud detection uses machine learning models to score transactions for fraud probability in real time.
Network Token
A network token is a scheme-issued credential that replaces a card number and updates automatically when the card changes.
AML
AML in payments covers the obligations to detect, prevent, and report money laundering through transaction monitoring and customer due diligence.
Data Residency
Data residency in payments requires certain transaction data to be stored within specified geographic boundaries under national or regulatory rules.
ACH Transfer
ACH Transfers are US bank-to-bank payments processed via the Nacha-governed Automated Clearing House network.
Mobile Payments
Mobile payments covers in-app, mobile web, NFC contactless, and QR code transactions initiated on mobile devices.