Glossary

Chargeback prevention refers to strategies and practices used by merchants, businesses, and payment processors to reduce the likelihood of chargebacks.

A Customer Identification Program (CIP) is a set of procedures and processes established by financial institutions and other regulated entities to verify the identity of their customers.

A cryptocurrency wallet is a digital tool that allows users to securely store, manage, and interact with their cryptocurrency holdings.

Cross-border payments refer to financial transactions that involve the transfer of funds between parties located in different countries.

Cardholder Verification Method (CVM) refers to the process used to authenticate the identity of the cardholder during a payment transaction.

A cardholder is an individual or entity that possesses and is authorized to use a payment card, such as a credit card, debit card, or prepaid card.

Contactless payment refers to a method of transaction that allows users to pay for goods or services without having to physically touch or insert a payment card or device into a point-of-sale (POS) terminal.

Cashless refers to a system or method of payment that does not involve the use of physical money, such as coins or banknotes.

Crypto payments are transactions where digital currencies, such as Bitcoin, Ethereum, or other cryptocurrencies, are used as a method of payment.

CNP (Card Not Present) refers to transactions where the cardholder’s physical credit card is not required at the point of sale.

Credit card fraud is the unauthorized use of someone’s credit card information to make purchases or obtain funds, typically through theft, phishing, or hacking.

A chargeback is a reversal of a credit card transaction, initiated by the cardholder’s bank or credit card company, typically due to a dispute or fraud.

Computer Speech Recognition, also known as Automatic Speech Recognition (ASR), is a technology that enables computers and software systems to understand and interpret human speech

Cortana is a virtual assistant developed by Microsoft, similar to Amazon Alexa and Google Assistant. It is integrated into Microsoft Windows operating systems and available as an app on mobile devices.

Click to Pay is a streamlined online payment method that allows users to complete transactions with a single click by using pre-stored payment and shipping information.

Cryptocurrency is a digital or virtual form of money that uses cryptography for security

A Contact Centre (or Contact Center) is a centralized hub where customer interactions across various communication channels (e.g., phone calls, emails, live chat, social media) are managed and handled by customer service representatives or agents. Contact centres are integral to customer support, sales, and service delivery operations of organizations.

Three-digit code on credit cards for added security in online transactions.

Compliance generally refers to adhering to rules, regulations, or standards set by an authoritative body or organization. In the context of payment card industry (PCI) compliance, it specifically relates to following the requirements outlined by the Payment Card Industry Data Security Standard (PCI DSS).

Cardholder data refers to any information related to an individual who owns a payment card. This typically includes the cardholder’s name, primary account number (PAN), expiration date, and any other data relevant to processing a payment or verifying the identity of the cardholder. Protecting cardholder data is crucial to prevent fraud and maintain trust in electronic payment systems.