A payment processor is a financial technology service that manages electronic payment transactions between customers, merchants, banks, and payment networks. Payment processors enable businesses to accept payments through credit cards, debit cards, digital wallets, bank transfers, and other electronic payment...

A prepaid card is a payment card that allows users to spend money that has been loaded onto the card in advance. Unlike credit cards, prepaid cards do not provide a line of credit. Instead, the cardholder can only spend...

Pre-arbitration What is pre-arbitration? Firstly, you need to know that this definition comes closely with the notion of ‘chargeback.’ As the chargeback process commonly may have 4 stages, the pre-arbitration will be stage 3. Stage 1. 1st presentment. Stage 2....

A POS terminal (Point-of-Sale terminal) is an electronic device used by businesses to accept and process card payments from customers. These terminals read payment card information, communicate with payment networks, and authorize transactions between the customer’s bank and the merchant’s...

A Point of Sale System (POS) is a combination of hardware and software used by businesses to process sales transactions, manage payments, track inventory, and handle daily operational activities. POS systems are commonly used in retail stores, restaurants, supermarkets, hospitality...

Plugin Plugin (also known as a plug-in) is a software that enables customization by adding a specific feature to the current computer program. Plugin’s primary goal is to enhance the program as well as to provide new capabilities. Those merchants willing...

Platform integration is the process of connecting different software applications, services, and systems so they can exchange data and operate together within a unified digital environment. Businesses use integration technologies to streamline workflows and ensure that multiple tools function efficiently...

A PIN pad is an electronic device used in payment systems to securely capture and encrypt a customer’s personal identification number (PIN) during debit, credit, or smart card transactions. The device reads payment cards and transmits the encrypted PIN to...

Phishing is a type of cybercrime in which attackers attempt to steal sensitive information such as passwords, credit card numbers, banking details, login credentials, or personal data by pretending to be a legitimate organization or trusted entity. These attacks commonly...

Personal Identification Number (PIN) What is PIN Number? Personal Identification Number (PIN) is a 4-digit code, a combination of numbers which helps the client to have access to the credit card. This number is created to provide secure checkup of...

Payment Gateway / Platform What is a Payment Gateway? A payment gateway is an e-commerce technology that securely facilitates the transfer of funds between a cardholder’s bank and a merchant, without exposing sensitive personal or card information. It acts as...

A Payment Service Provider (PSP) is a company that enables businesses to accept electronic payments from customers. PSPs connect merchants with payment networks, acquiring banks, and financial institutions so that transactions can be processed securely and efficiently. By integrating payment...

Payment processing speed refers to the amount of time required for a payment system to receive and process a transaction request after a customer submits payment information. In modern payment systems, the authorization response from the payment gateway usually occurs...

Payment Processing Errors List What is Payment Processing Errors List? A certain percentage of all financial operations always fails. There are many reasons why. If you are an attentive person, you might have already noticed that failed transactions may come...

A payment page, commonly referred to as a checkout page, is a web page used in eCommerce and online payment systems where customers enter payment and billing information to complete a transaction. Checkout pages are designed to securely collect customer...

Payment Page What is a payment page? The payment page is a web page that allows customers to purchase items easily and securely. After adding the items to the shopping basket, the user must be redirected to the payment page and...

The Payment Card Industry Data Security Standard (PCI DSS) is a global security framework designed to protect credit card and payment information during storage, processing, and transmission. Developed by major card networks including Visa, Mastercard, American Express, Discover, and JCB,...

Pay-out What is a pay-out? Pay-out is a term that stands for the process of paying out the money. When you talk about the pay-out, it is usually connected with a big amount of money that is paid to some...