Also known as 3-D Secure, 3-DS means Three Domain Server. It is named this way because a 3-D Secure transaction involves three domains: the acquirer domain, the issuer domain, and the interoperability domain.

The acquirer domain refers to the acquiring institution and the merchant receiving the payment. The issuer domain is the environment of the bank that issued the card used for payment. The interoperability domain includes the systems that support 3-DS by connecting the issuer and acquirer and exchanging information between them.

An institution that facilitates payments made with prepaid, credit, or debit cards. It connects the merchant to the card-issuing bank and handles tasks such as recording and processing payments, communicating with the card scheme, and transferring funds to the merchant.

Actions taken by the organization that processes a payment on behalf of the buyer or seller.

They are intended to address issues such as procedural disputes and duplicate charges.

Payment methods that differ from standard transaction methods and provide alternatives to credit card payments. Many emerged as solutions for e-commerce. Examples include:

• Cash payments
• Bank transfers
• Instant payments
• Digital wallets
• Direct carrier billing (DCB)

The process of verifying the identity of a participant or a part of a transaction. It is a security procedure that may use artificial intelligence or sensitive information known only to a specific user.

A procedure intended to verify whether a credit card has enough available funds or credit to cover a transaction. Approval is provided by the card issuer.

A term associated with the cryptocurrency world. It describes a type of digital ledger in which all transactions made in a particular cryptocurrency are recorded in blocks and in chronological order. This digital record is available to everyone using that cryptocurrency.

Copies are stored on multiple computers and synchronized when needed, making it a decentralized system. This allows different markets to access transactions without relying on a central record.

A digital currency that is part of blockchain technology. Bitcoin is the best-known example, but many other cryptocurrencies exist. Cryptography is used to create, distribute, and track them.

Buy Now, Pay Later lets customers purchase a product or service immediately without paying upfront or needing a credit card. The amount is collected in installments over a period ranging from a few months to two years.

The step in an electronic credit card payment when the payment is actually captured and the transaction is completed. In short, capture is the point at which you are paid for a sale. It occurs when the process begins to move the authorized funds from the cardholder's bank to your merchant account.

A card scheme or card brand is the central payment network that processes credit and debit card payments from transaction through clearing. Mastercard and Visa are two major examples of card schemes that offer credit and debit cards for online and in-person purchases.

Cashback is usually part of a program designed to reward consumers, often repeat customers. It refers to a small portion of the purchase amount returned to the consumer or credited to a digital wallet for later withdrawal.

A chargeback concerns a disputed transaction. The dispute may be raised by the cardholder or the card issuer. If the claim is valid, the transaction is reversed and the merchant is expected to refund the payment.

Checkout is the process that completes a purchase; the order is paid at this stage. Different payment types include:

• Hosted payment page: The customer is redirected to another page, usually operated by a payment facilitator, to complete the purchase.
• Direct payment: The customer stays on the merchant's e-commerce site to enter personal and payment details. This provides a smoother experience and gives the merchant full control of the payment page.
• Payment lightbox: The customer enters payment details in a pop-up window on the merchant's page.

Credit cards allow consumers to shop when they choose and, if they pay on time, repay their balance by the due date without interest. International credit cards can be used with merchants around the world. Local credit cards, however, are limited to local transactions processed locally.

A card on an international or domestic card network that may be issued by a traditional bank, digital wallet, or fintech company and draws on a digital account. The amount available for purchases is limited to the balance in the bank account or e-wallet.

A card that allows spending with funds loaded onto it in advance, without requiring a linked credit or deposit account.

Cards that can only be used for transactions in the country where they were issued. They may be debit or credit cards. Holders of domestic credit cards may also benefit from local offers and privileges, such as installment plans provided by local brands and merchants.

A device that enables payment for goods or services using digital cards—such as credit, debit, or prepaid cards—instead of cash.

An incident in which confidential data is leaked or stolen for any reason. In the context of online payments, this data often refers to credit card details obtained through illegal transactions.

The process of encrypting sensitive data, such as credit card details, to make it more secure. An algorithm transforms the data so that it cannot be used by anyone without the relevant secret information.

A financial institution that has no physical branches and provides all its services online. It differs from a traditional bank that has physical branches while also offering digital services.

A payment method that stores a funding source—such as a credit card, debit card, bank account, or stored balance—and uses it to transfer payment.

A way of commercializing products and services entirely online. E-commerce stores may be part of a larger platform or have their own sales pages.

An electronic transaction between bank accounts, whether held at the same institution or different institutions, that does not require an operator. A direct money transfer is one example of EFT. EFT is a cash-based payment type.

A payment institution that provides consumers or organizations with credit, debit, or prepaid cards and manages transactions made with them. When a card payment is made, the issuing bank transfers the amount to the acquirer.

Extensions designed for e-commerce that make it possible to sell to users in other countries using local currencies without harming their payment experience. They can help grow a business and strengthen its online presence while simplifying currency conversion.

Channels designed to provide consumers with a high-quality, convenient shopping experience, regardless of where they start or complete a service or purchase.

A service provider that brings several payment options together in one place for consumers to choose from. It helps merchants offer a wider range of payment methods in their online stores. The merchant does not need a direct connection to a bank; it can connect through the payment aggregator.

A system used in e-commerce to send payment card details from a website or device to a processor for verification. This step authorizes the transaction to proceed between the merchant and the customer.

A comprehensive payment solution provider that connects to payment infrastructure, handles technical information flows and payments between the parties involved in a purchase, and simplifies the steps required to operate an efficient payment system.

An important accounting process that compares internal financial records with bank and other payment records to ensure that all records and reports are consistent. Businesses may reconcile daily, weekly, or monthly.

PCI DSS stands for Payment Card Industry Data Security Standard. This security standard is mandatory for all companies that process card payments.

QR stands for “Quick Response.” A QR code is a coded visual language used especially to simplify financial transactions. It is a two-dimensional barcode that can be scanned by a device camera, usually a phone.

The process through which a payment provider transfers the proceeds of a purchase to a merchant after processing payments on the merchant's behalf. It is commonly used in sectors such as ride-hailing and retail marketplaces.

A data protection method that generates random characters, or tokens, to replace valuable data such as cardholder details, usernames, and passwords. It is similar to encryption because it makes the original confidential data unreadable, helping protect it in the event of a data breach.

Tokenization is especially important for credit card payments: card tokens hide consumers' personal and financial data, allowing merchants to move data across networks without exposing customer details.