Also known as a merchant acquirer or acquiring bank. This type of acquirer acts as a middleman between a business, card networks, and banks. When a customer makes a purchase, the acquirer secures authorisation from the card issuer, processes the transaction and deposits the funds into the business’s account.

A fraud-prevention check that matches the billing address given by the customer against the address held by the card issuer.

Laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.

A unique code used to authenticate and authorise a business’s or developer’s access to a payment provider’s API.

A software intermediary that allows different applications to communicate with each other. APIs are a set of rules and protocols that define how applications can send and receive data, or interact with each other to perform tasks.

A code generated by the card issuer confirming that funds are available and the transaction has been approved. This happens before capture.

The Bank Identification Number (BIN) is the first six or eight digits of a payment card number. It identifies the card issuer and can provide information about the type of card and payment network.

The time where transactions are ‘banked’ by the acquirer. This determines when it’s the end of the processing day. Any transactions processed after the banking window will be included in the next day’s batch. Different industries will have different timings.

A group of transactions submitted together for processing, usually at the end of a banking window or trading day.

A payment method that lets customers split the cost of a purchase into instalments, often interest-free, with the provider paying the merchant upfront.

A transaction that takes place online, over the phone or via postal order, where the cardholder does not present the physical card to the business at the time of the payment.

The cardholder presents their physical credit or debit card to the business at the point of sale.

A card scheme, also known as a card payment system or card network, is a payment network that allows people and organisations to make payments using debit or credit cards. E.g. Visa, Mastercard and Amex.

Amount of business revenue taken on card.

The 3 or 4-digit security code on a card, used to confirm that a cardholder has the physical card during card-not-present transactions.

A dispute raised by a cardholder through their card issuer when they believe a card transaction is incorrect, unauthorised or otherwise qualifies for a chargeback. If the chargeback is upheld, the transaction amount may be returned to the cardholder.

A payment method that allows customers to pay by tapping a contactless card, smartphone or other compatible device on a payment terminal. Depending on the transaction and payment method, additional verification, such as a PIN, may sometimes be required.

When a transaction is refused by the issuer. A ‘soft decline’ is temporary (e.g. insufficient funds, and can be retried), while a ‘hard decline’ means the transaction should not be reattempted (e.g. lost or stolen card).

A digital service such as Apple Pay or Google Pay that allows customers to securely make payments using a smartphone, smartwatch or other compatible device. Card details are typically protected using tokenisation.

A payment method that allows a business to collect payments directly from a customer’s bank account, based on an authorisation given by the customer.

A trading name, alias, or business name that a company uses instead of its registered legal name.

A service that lets an overseas cardholder see and pay in their own currency at the point of sale, with the conversion handled at checkout.

The buying and selling of products and services online, along with the transfer of money and data. It takes place on websites, smartphone apps, social media platforms, and online marketplaces.

Digital system that allows businesses to record sales, process payments, and track inventory. EPOS systems are commonly used in retail and hospitality settings, and are also known as tills or checkout points.

The global standard for chip-based card payments (named after Europay, Mastercard, and Visa), used to authenticate card-present transactions securely.

The time delay between a transaction being initiated and the funds actually reaching a business’s account.

Automated checks run on transactions to flag suspicious activity before it’s processed, using rules or risk scoring.

Allows businesses to receive and initiate payments, whether online, in-person, or in-app. It’s a tool that securely collects and validates customer payment information, and then sends it to the relevant parties to process the transaction.

Third-party company that is authorised to sells and market payment processing services to businesses, acting as an intermediary between financial institutions and businesses.

ISVs develop, market, and sell software that’s designed to meet the needs of specific industries or market segments. They create software that’s independent of the underlying hardware and operating systems.

The process of connecting multiple software applications and systems so that they can work together and share data. For example, a 3rd party ISV is integrating Blink Payment into their software.

A fee paid by the acquirer to the card issuer when a card transaction is processed. Interchange fees are generally set by card schemes and can vary depending on factors such as the card type, transaction type and location.

The bank or financial institution that provides a customer’s debit or credit card and manages the associated card account. The issuer authorises or declines card transactions and may be responsible for handling disputes raised by the cardholder.

The process of verifying the identity of a business or individual before onboarding them, as part of anti-fraud and regulatory checks.

Where customers give their payment card information to businesses over the phone or through the mail, rather than in person or online.

The overall fee a business pays to accept a card payment, made up of interchange fees, scheme fees, and the acquirer’s/PSP’s own charges.

Unique identifier that allows a business to accept credit and debit card payments.

The ability for a business to accept and settle payments in multiple currencies, often useful for businesses trading internationally.

A regulated system that lets businesses and consumers share financial data and make direct bank-to-bank payments, instead of relying on card networks. It works through secure third-party technology platforms (such as Token.io) that connect a customer’s bank directly to the merchant to authorise and move the payment.

Enables customers to pay simply by clicking on a secure link and following the steps. A paylink is initiated by the merchant using Blink Payment.

The process of requesting the funds from an authorised card transaction so they can be processed for settlement. Authorisation happens before capture and confirms that the transaction can proceed.

A global security standard designed to protect payment card data. PCI DSS sets requirements for businesses and organisations that store, process or transmit payment card information. Blink Payment’s platform is built on PCI Level 1 compliant technology, the highest of the four PCI DSS compliance levels.

A payment provider that enables businesses to accept payments without each business needing to establish a direct merchant relationship with an acquiring bank. Businesses typically operate as sub-merchants under the Payment Facilitator’s merchant account.

A Blink Payment customisable webpage businesses use to collect payments by sharing the generic link or adding to websites and invoices.

PSPs act as an intermediary between consumers and retailers, facilitating the movement of funds from the customer’s account to the merchant’s account. They provide the infrastructure and connections to acquiring banks that process payments on behalf of merchants.

The UK’s independent regulator for payment systems, set up to ensure they work well for the businesses and consumers that rely on them. The PSR oversees competition, innovation, and fairness across payment networks like Faster Payments, Mastercard, and Visa.

The point where a customer makes a purchase and payment is taken. A point-of-sale (POS) system can include payment hardware, software and other tools used to manage sales and payments.

A pre-authorisation places a temporary hold on a specified amount of funds on a customer’s card. It is commonly used for businesses such as hotels and car-hire companies, where the final amount may not be known at the time of the initial transaction. The authorised amount can later be completed or adjusted, subject to the applicable card scheme rules and time limits.

The Primary Account Number (PAN) is the number that identifies a customer’s payment card account. It is also known as the payment card number and is used to identify the card when processing a transaction.

When a captured transaction is sent to the acquirer for processing. If a captured transaction is not processed, it will eventually drop off, similar to a pre-auth.

The process of matching transaction records (sales, refunds, fees) against bank statements or settlement reports to ensure the figures agree. Often done using accounting software such as Xero, QuickBooks, or Sage, which can be integrated with a payment provider to automate the matching process.

An arrangement that allows a business to take regular payments from a customer’s card after the customer has given permission. Also known as a Continuous Payment Authority (CPA), it is commonly used for subscriptions and recurring services.

Returning funds to a customer after a transaction has settled. Can be a ‘full refund’ (entire amount) or ‘partial refund’ (part of the amount).

When a business challenges a chargeback by submitting evidence to prove the transaction was valid, it effectively asks the issuer to reverse the chargeback.

A code returned after a transaction attempt that indicates the result (e.g. approved, declined, or a specific error), used to troubleshoot payment issues.

A request from the card issuer for additional information or documentation regarding a transaction, often the step before a chargeback is initiated.

A classification given to a business based on its perceived risk level, which can affect fees, reserve requirements, or approval decisions.

A percentage of a business’s card takings withheld by the acquirer for a set period, used as protection against future chargebacks or refunds.

How quickly settled funds are paid into a business’s bank account after a transaction, depending on the acquirer’s payout schedule.

A sandbox (or test mode) is a safe environment where businesses/developers can test integrations using fake transactions, before switching to live mode to process real payments.

The process of transferring funds from processed card transactions to the merchant’s account. The timing of settlement and when funds reach the merchant’s bank account depends on the payment provider and acquirer’s settlement and funding arrangements.

Security protocols that encrypt data sent between a customer’s browser and a website, protecting sensitive information like card details during a transaction.

A regulatory requirement for online payments in the UK/EU that requires two or more independent methods to verify a customer’s identity (e.g. something they know, have, or are).

A business that processes payments under a Payment Facilitator’s master merchant account, rather than having its own direct merchant account.

A technology that allows a compatible smartphone or other supported device to accept contactless payments without requiring a separate payment terminal. Customers can pay using contactless cards or compatible digital wallets.

A unique identifier assigned to a payment terminal. The Terminal ID (TID) helps payment providers and businesses identify and track transactions processed through a specific terminal.

Replacing sensitive card details with a unique, randomly generated ‘token’ that can be used for future payments without exposing the actual card number.

The process an acquirer or PSP goes through to assess the risk of onboarding a business, based on factors like industry, turnover, and chargeback history.

A zero-value transaction used to check whether a card is valid without charging the customer. It can also be used as part of the process of securely storing a card for future payments.

Web application that allows merchants to input card details and accept payments without requiring the physical presence of the card.

Cancelling an authorised card transaction before it is settled. A void prevents the transaction from being completed, so a separate refund is not normally required.

An automated notification sent from one system to another when a specific event occurs (e.g. a payment succeeding), allowing software to react in real time.

A product or service (like a payment gateway) built by one company but branded and sold under another company’s name.

An extra layer of security for online card payments that verifies the cardholder’s identity, often via a one-time passcode or biometric check, in order to meet SCA requirements.