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Payments Glossary
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Payments Glossary

The following list of payments industry related terms and definitions has been developed from Dialect's experience and any definitions are not to be considered conclusive or complete.

3-D Secure. A protocol for eCommerce designed to increase the security of online credit card transactions by adding an extra step requiring a PIN or password for authentication.
Acquirer. A financial institution which provides the facilities and services for a merchant to receive customer payments via credit cards.
ACS Access Control Server. A device for checking for the availability of authentication for a credit card number.
ASP Application Service Provider. An organisation that rents software hosted on a remote server. The software can be accessed via a web browser.
Authenication. The process of verifying that the user of a credit card in a particular transaction is entitled to do so. Example: signature, PIN or password.
Authorisation. The method in which a transaction is approved for payment by a credit card issuer or a payment processor on behalf of an issuer.
Batch. A collection of transaction captures and credits waiting to be processed by a merchant's acquiring financial institution.
Capture. The transfer of money from an issuer to the merchant's account via the acquirer. It occurs on a previously authorised transaction following the dispatch of goods from the merchant.
Card Not Present. Any credit card transaction, where the merchant cannot view the customer's credit card in order to assist with validating the cardholder's identity.
Hosted Payments Page. A setup whereby the payments page is not part of your website, but 'hosted' by the bank or a payments provider.
ISP Internet Service Provder. An organisation which provides services that allow you to browse the Internet, send email and/or host your website.
Issuer. A financial institution which issues credit cards and provides related services to consumer and business credit card holders.
IVR Interactive Voice Response. A method in which a user interacts with a payments database over the telephone by responding to pre-recorded voice prompts.
MOTO Mail Order Telephone Order. 'Card Not Present' transactions whereby the order for goods is received via the telephone or through the mail.
MPI Merchant Plug-In. A tool that sits within the merchant's website and assists with the authentication of transactions using the 3-D Secure protocol.
PIN Personal Identification Number. A personal numeric password designed to secure an account.
PSP Payment Service Provider. An organisation that supplies a range of services allowing business to receive payments online.
SMS Short Messaging Service. A text message format which allows users of mobile phones to send and receive simple text messages to each other, usually limited to 160 characters.
SSL Secure Sockets Layer. The standard secure format of the Internet. Information on a webpage, including inputted data on forms, is encrypted so that transaction information remains confidential.
Touch-tone. A system that responds to the varied noises produced by a telephone when a user dials numbers on the keypad.
Voice Recognition. The control of a computer system through voice commands.

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