Refund Window
A refund window is the period during which a refund request may be submitted or approved under a policy, contract, payment method,…
Payment Infrastructure & Operations
Payment processing, operations, routing, fees and merchant infrastructure.
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Terms (702)
Refund-to-Ledger Reconciliation
Refund-to-Ledger Reconciliation is the comparison of refund execution records with ledger postings to confirm accurate, complete, and non-duplicated accounting. It validates accounting…
Refunded Payment
A refunded payment is an original payment for which an approved refund has reached the system's defined completed threshold. The status should…
Refunding Payment
A refunding payment is an original payment with a refund currently in progress. The refund may be approved, submitted, confirming, or awaiting…
Rejected Payment
A rejected payment is a payment instruction that an internal control, provider, bank, network, or other authority refused to accept or execute.…
Remote Payment
A remote payment is made without the payer and merchant being physically present at the same location or using the same point-of-sale…
Renewal Payment
A renewal payment is collected to continue a subscription, membership, license, service plan, or other time-limited agreement. It may be initiated automatically…
Retry Payment Routing
Retry Payment Routing is the selection of a payment route for a subsequent attempt after an earlier route or processor attempt failed…
Return Code
Return Code is a standardized or provider-specific code explaining why a payment, transfer, debit, or payout was returned, rejected, or sent back.…
Revenue Reconciliation
Revenue reconciliation compares recognized or expected revenue with orders, invoices, payments, refunds, fees, settlements, and ledger postings. Its purpose is to explain…
Risk-Based Payment Routing
Risk-Based Payment Routing is the selection of a payment processor, rail, authentication path, or review flow using assessed transaction and operational risk.…
Same-Day Settlement
Same-day settlement means that a payment or group of obligations reaches the defined settlement outcome on the same business day it becomes…
Scheduled Payment
A scheduled payment is a payment instruction configured to execute on a future date or according to a recurring timetable. The schedule…
Scheduled Payout
A scheduled payout is an outgoing payment arranged to be created or released at a future time, often for merchants, sellers, suppliers,…
Securities Settlement System (SSS)
A Securities Settlement System is a financial market infrastructure that enables securities to be transferred and settled according to defined rules. It…
Settlement
Settlement is the completion of obligations through the final transfer of funds, assets, or both between the relevant parties or their institutions.…
Settlement Account
A settlement account is an account used to receive, hold, or transfer funds for settling payment or trading obligations. It may be…
Settlement Address
Settlement Address is the bank, account, wallet, or network destination designated to receive settlement funds for a merchant, provider, or internal entity.…
Settlement Agent
A settlement agent is the entity that manages or executes settlement for participants in a payment, securities, or trading arrangement. Its responsibilities…
Settlement Allocation
Settlement allocation assigns a settlement amount, fee, adjustment, or cash movement to the transactions, merchants, accounts, or obligations that produced it. It…
Settlement Asset
A settlement asset is the money, digital asset, or account balance transferred between participants to discharge a payment or settlement obligation under…
Settlement Assurance
Settlement assurance is the set of arrangements that increases confidence that accepted obligations will settle completely and on time. It can include…
Settlement Balance
A settlement balance is the amount available, required, receivable, or payable in a settlement account or settlement process at a defined time.…
Settlement Bank
A settlement bank is a bank through which participants settle payment or market obligations, typically by debiting and crediting accounts held with…