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...

Credit Card Refund A credit card refund happens when a consumer who is dissatisfied with a purchase, contacts the merchant, and asks for a money return. For example, a lady saw a crack on a new cup she ordered. She approaches...

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,...

What is Convenience fee? The convenience fee is a fee the customers pay for the convenience of the alternative payment methods they use. The fee needs to answer the bona fide principal. What does this mean? Let’s assume you run...

Co-branded Card What is a co-branded card? A co-branded card is a special banking product issued with a partner company. When using this card, a bank customer can receive significant discounts and bonuses on payment for goods and services under...

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 Chargeback is a process of protesting transactions by an issuing bank, where the payment amount is debited from the acquiring bank without acceptance and the sum is returned to the payer. In fact, the technology of refund is used...

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 Pre-authorization of a bank card is technically a process of blocking a fixed amount of money allocated to the card owner within the line of credit. This block occurs when ordering some service or product, the sum...

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...

What is a blacklist? Blacklisting is a process of putting the incoming events to the banned list, the material of which was gathered from false banking operations. Bank can put a person or an organization to the blacklist. The most...

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...

Billing and Settlement Plan BSP (Billing and Settlement Plan) is a universal settlement system that replaces individual schemes of relations between agents and carriers. It is designed for the effective interaction of participants through the consolidation of information and financial...