Payments Glossary
A complete reference of payments terms from participant types to transaction processes.
Capture
Capture is the instruction to collect funds from an authorised payment transaction, triggering clearing and settlement.
Hard Decline
A hard decline is a permanent authorisation rejection due to a card-level condition like a stolen or invalid card, and must not be retried.
Network Token
A network token is a scheme-issued credential that replaces a card number and updates automatically when the card changes.
Fraud Score
A fraud score is a real-time risk rating assigned to payment transactions to determine approval, review, or decline decisions.
Real-Time Payments
Real-time payments settle transactions immediately, 24/7, making funds available to the recipient within seconds.
High Availability
High availability in payments ensures transaction processing continues without interruption through redundant infrastructure.
ACH Transfer
ACH Transfers are US bank-to-bank payments processed via the Nacha-governed Automated Clearing House network.
PCI DSS
PCI DSS is the security standard that governs how payment card data must be protected across all entities in the payment chain.
Interchange-Plus Pricing
Interchange-plus pricing passes actual interchange costs to merchants at cost plus a fixed acquirer markup, giving full transparency on acceptance costs.