Near-Real-Time Reconciliation
Near-real-time reconciliation matches payment and financial records continuously or at short intervals, accepting a small processing delay rather than requiring instantaneous agreement.…
Payment Infrastructure & Operations
Payment processing, operations, routing, fees and merchant infrastructure.
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Terms (702)
Net Settlement
Net settlement discharges the net amount owed after eligible payment obligations are offset under defined rules. It can be bilateral or multilateral…
Net Settlement System
A net settlement system is an infrastructure that settles participant obligations on a net basis after offsetting eligible payment or transfer instructions.…
Next-Day Settlement
Next-day settlement makes eligible proceeds available or transfers them on the next defined business or calendar day after the transaction or cutoff.…
No Chargeback
No chargeback describes a payment method or transaction that does not use the card-scheme chargeback mechanism. It does not mean the payment…
Non-Terminal Payment State
A non-terminal payment state is any state from which the payment lifecycle is expected or allowed to transition to another state before…
One-Time Payment
A one-time payment is authorized for a single purchase, invoice, donation, deposit, or obligation rather than a recurring series. The credential, link,…
Online Payment
An online payment is initiated through an internet-connected website, application, marketplace, message, or digital service. It can use cards, bank transfers, wallets,…
Open Banking Payment
An open banking payment is an account-to-account payment initiated through regulated access to a customer’s bank account using open banking interfaces and…
Open Banking Payment Processing
Open banking payment processing is the end-to-end technical and operational workflow used to initiate, authenticate, track, and reconcile open banking account-to-account payments.…
Order Reconciliation
Order reconciliation compares commerce orders with invoices, payment attempts, captures, refunds, fees, fulfillment, settlement, and accounting records. It confirms that each order's…
Order Refund
An order refund returns all or part of the value paid for a specific order. It should preserve which items, taxes, shipping,…
Order-to-Ledger Reconciliation
Order-to-Ledger Reconciliation is the process of linking commercial orders to the ledger entries that recognize receivables, cash, fees, refunds, taxes, and revenue…
Overpaid Payment
An overpaid payment is a payment for which the recognized value exceeds the amount required by the linked invoice, order, or obligation.…
Partial Payment
A partial payment satisfies only part of the amount due for an invoice, order, debt, or other obligation. The remaining balance stays…
Partial Refund
A partial refund returns less than the full refundable amount of an earlier payment or purchase. It can correspond to selected items,…
Partial Withdrawal
A partial withdrawal transfers only part of the balance currently eligible for withdrawal from an account, wallet, or platform. The remaining amount…
Pay by Bank
Pay by Bank is a customer-facing payment method that lets a payer authorize a direct account-to-account payment from a bank account, commonly…
Payment Acceptance
Payment acceptance is the capability and process through which a merchant or service receives a supported payment method and admits a valid…
Payment Acceptance Rate
Payment acceptance rate is the percentage of eligible payment attempts accepted or approved during a defined period. The metric must state which…
Payment Accuracy
Payment accuracy measures how consistently payments contain and produce the correct amount, currency, asset, beneficiary, reference, fee, status, and accounting result. It…
Payment Active-Active Architecture
Payment active-active architecture runs two or more payment-processing instances, regions, or sites concurrently so each can accept and process production traffic. Active-active…
Payment Active-Passive Architecture
Payment active-passive architecture uses a primary payment-processing environment for normal production traffic and maintains a secondary environment that can take over after…
Payment Aggregator
A payment aggregator provides multiple merchants access to payment acceptance through a shared integration and upstream acquiring or processing relationships. Depending on…