Deposit Deposit is a definite sum that the bank enterprise receives from the card owner for a determined or indefinite time duration. Banks apply the placed money as circulating funds that are used to make a profit. Despite the result,...

cPanel What is cPanel? In a common meaning, cPanel is a software that enables server management. The definition basically speaks for itself – control panel. Depending on the service or management system, this panel may include different features. For instance,...

Customised modules What are the customised modules? The customised modules are the system that manages the client relationship, many payment services provide special tools providing the data details, including reports about geolocation, list of restricted regions, limitations of bank operations...

A credit card refund occurs when a merchant returns money to a customer after a completed credit card transaction. Refunds typically happen when a customer is dissatisfied with a product or service, when an item is defective, or when an...

Credit Card Decline Codes Every time a customer fails to complete a payment, a corresponding code appears with the error notification. There may be numerous conditions why the transaction has failed. Sometimes they depend on the client’s credit card or...

Conversion What is a conversion? The conversion is a point when a client responses to the call-to-action by closing on a purchase. However, it may also be an application, registration, call, subscription to the newsletter, and more. All in all,...

A convenience fee is an additional charge that a customer pays when using an alternative payment method that is different from the merchant’s standard payment channel. Businesses may apply this fee to cover the costs associated with accepting payments through...

A co-branded card is a payment card issued by a bank in partnership with another company or organization. The card carries the branding of both the issuing bank and the partner company. Cardholders typically receive special rewards, discounts, or loyalty...

Chargeback Reason Codes A reason code or a chargeback reason code is a string of symbols (numbers and letters). These symbols stand for reasons why a financial institution may file a credit card chargeback from their client’s name. During this...

Chargeback is a payment dispute process in which a cardholder requests a reversal of a transaction through the issuing bank. When a chargeback occurs, the issuing bank temporarily reverses the payment and retrieves the disputed amount from the acquiring bank...

Certificate of incorporation A certificate of incorporation relates to the company or corporation formation. Usually, a state governmental entity or corporation issues a certificate to a merchant. The information in this certificate varies from country to country, but may include...

CCAvenue Payment Error code 10002 Even experienced merchants get confused when facing CCAvenue Payment Error code 10002. Don’t worry if you found yourself in such a situation. We are here to help. The CCAvenue Payment Error code 10002 arouses when...

Card-not-present (CNP) What are the card-not-present operations? Card-not-present (CNP) operations are banking facilities using the card without the physical presence. These financial operations belong to the class of high-risk operations. Why so? Because the presence of the card owner and...

Card Verification Code / Card Verification Value (CVC, CVV) Each card has a security code CVV CVC, be it credit or debit. Card Verification Code CVC and Card Verification Value CVV is a card authentication code that is used for...

Credit card pre-authorization is a banking process in which a merchant temporarily reserves a specific amount of money on a customer’s credit or debit card before completing a transaction. During this process, the payment system verifies that the card is...

Credit Card authorization Card authorization is permission to conduct a transaction with a bank card provided by the issuing bank. It is carried out if the debited sum exceeds the unauthorized limit (the sum of the purchase set by the...

What is Business Identifier Code (BIC)? The Business Identifier Code (BIC) is a specific numeric sequence that refers to each banking affiliation operating within various territories. Business Identifier code is an ISO 9362. BIC applies to both financial and non-financial...

In banking and financial compliance, a blacklist (often called a restricted list or denylist) is a record of individuals, organizations, or entities that financial institutions treat as high risk. Banks use these lists to prevent fraud, money laundering, sanctions violations,...

Billing Cycle The billing cycle is a certain period of time during which all settlement operations are carried out for a particular economic transaction. The settlement period can be interpreted differently in various industrial areas, but the main purpose of...

The Billing and Settlement Plan (BSP) is a global financial settlement system used in the airline industry to facilitate and simplify transactions between airlines and travel agents. The system was developed and is administered by the International Air Transport Association...