Clearing Account
A clearing account is a temporary ledger account used to hold entries while related payment, settlement, or reconciliation information is completed. Items…
Payment Infrastructure & Operations
Payment processing, operations, routing, fees and merchant infrastructure.
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Terms (702)
Clearing Cycle
A clearing cycle is a scheduled sequence in which a payment system receives instructions, validates and groups them, calculates obligations, and prepares…
Clearing File
Clearing File is a structured file containing payment instructions, returns, adjustments, control totals, or settlement information exchanged for clearing processing. In a…
Clearing House Interbank Payments System (CHIPS)
Clearing House Interbank Payments System (CHIPS) is the private-sector U.S. dollar clearing and settlement network operated by The Clearing House for large-value…
Clearing Member
A clearing member is a participant authorized to submit, receive, or clear transactions directly through a clearing arrangement and assume obligations under…
Clearing System Reference
A clearing system reference is an identifier assigned by a clearing network, processor, or participant to trace a payment instruction or clearing…
Commercial Bank Money
Commercial Bank Money is money issued as a liability of a commercial bank, primarily customer deposit balances transferable through payment systems. In…
Confirmed Payment
A confirmed payment is a payment that has reached the confirmation threshold defined by the relevant provider, processor, or blockchain policy. Confirmation…
Consumer Payment
A consumer payment is a payment involving an individual acting mainly for personal rather than business purposes. It can cover retail purchases,…
Continuous Linked Settlement (CLS)
Continuous Linked Settlement is the foreign-exchange settlement service operated by CLS Bank that reduces principal risk by settling eligible payment instructions on…
Cost of Payments
Cost of payments is the total economic cost of accepting, sending, processing, converting, settling, securing, supporting, and reconciling payments. It includes visible…
Cost of Refunds
Cost of refunds is the total expense associated with returning payment value to a customer. It can include the refunded principal, non-returned…
Cost-Based Payment Routing
Cost-based payment routing is a routing strategy that selects a payment provider, rail, or acquiring path according to the expected total cost…
Cross-Border Settlement
Cross-border settlement completes payment obligations between parties, accounts, or institutions located in different countries or legal jurisdictions. It can involve correspondent banks,…
Cross-Provider Reconciliation
Cross-provider reconciliation compares payment and settlement records from two or more external payment providers with the platform’s internal records to establish one…
Cross-Rail Reconciliation
Cross-rail reconciliation aligns records for payments that move through different payment rails, such as card, bank-transfer, instant-payment, or blockchain networks. The objective…
Crypto Payment Reconciliation
Crypto payment reconciliation verifies that blockchain transactions, payment-platform records, merchant orders, internal ledger entries, and settlement outcomes describe the same crypto payment.…
Cryptocurrency Payment Gateway
A cryptocurrency payment gateway is a service or software layer that lets businesses accept crypto payments through checkout pages, payment links, plugins,…
Cryptocurrency Payment Processor
A cryptocurrency payment processor is a service that handles operational steps required to accept, verify, account for, convert, or settle crypto payments…
Currency-Based Payment Routing
Currency-based payment routing sends a transaction to a provider or payment rail selected partly from the transaction, billing, settlement, or account currency.…
Customer Payout
A customer payout is an outbound payment from a business or platform to a customer. It can represent a refund, withdrawal, prize,…
Customer Settlement
Customer settlement is the completion of a financial obligation involving a customer by delivering funds, assets, or a recognized account credit. The…
Cut-off Time
Cut-off time is the latest time an instruction can be received and accepted for processing, settlement, posting, or value on a specified…
Daily Payment Reconciliation
Daily payment reconciliation is a scheduled control that compares payment, provider, bank or blockchain, ledger, and settlement records for a defined business…