AWS IVR Payments refer to a payment processing solution that uses Amazon Web Services (AWS) cloud infrastructure to support Interactive Voice Response (IVR) systems.
Continue readingAgent
In the context of technology, an agent can refer to a program or system that acts on behalf of a user, performing tasks or providing assistance.
Continue readingAlexa payment
Refers to payment transactions facilitated through Amazon’s virtual assistant, Alexa, often using voice commands or other interactions.
Continue readingAutomation
The use of technology to perform tasks and processes without human intervention, often to improve efficiency and accuracy.
Continue readingBiometric Payment Card
Credit or debit card incorporating biometric authentication technology for enhanced security.
Continue readingBiometric Authentication
Verification method using unique biological traits, such as fingerprints or facial recognition.
Continue readingBIN (Bank Identification Number)
The first six digits of a credit or debit card, identifying the issuing bank.
Continue readingBlockchain
Distributed ledger technology ensuring secure and transparent transaction records.
Continue readingApp (Application)
A software program designed to perform specific tasks or provide specific functions on a computer or mobile device.
Continue readingApproved Scan Vendor (ASV)
An Approved Scan Vendor (ASV) is an organization authorized by the Payment Card Industry Security Standards Council (PCI SSC) to conduct external vulnerability scanning services for PCI DSS compliance validation
Continue readingAoC (Attestation of Compliance)
AoC refers to Attestation of Compliance. It is a document provided by a Qualified Security Assessor (QSA) or by an internal security assessor (ISA) after an organization has completed a PCI DSS (Payment Card Industry Data Security Standard) self-assessment or a full PCI DSS assessment. The AoC verifies that the organization has undergone the necessary assessments and meets the compliance requirements set by PCI DSS.
Continue readingASR (Automatic Speech Recognition)
Technology that converts spoken language into written text, allowing machines to understand and process spoken words.
Continue readingAuthentication
The process of verifying the identity of a user, device, or system, often used for secure access and transactions, typically through the use of usernames, passwords, biometrics, or other security measures.
Continue readingAgent-Digital
A term describing a digital or virtual agent, typically a computer program or AI system, that performs tasks or provides assistance in a digital environment.
Continue readingCardholder Data (CHD)
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.
Continue readingAcquirer
An acquirer, also known as an acquiring bank or merchant bank, is a financial institution that maintains the merchant’s bank account and enables merchants to accept card payments from customers. Acquirers facilitate transactions by providing merchants with the necessary equipment and software to process payments.
Continue readingCredit Card Fraud
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.
Continue readingContact Centre
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.
Continue readingCryptocurrency
Cryptocurrency is a digital or virtual form of money that uses cryptography for security
Continue readingClick to Pay
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.
Continue readingCashless
Cashless refers to a system or method of payment that does not involve the use of physical money, such as coins or banknotes.
Continue readingArtificial Intelligence (AI)
Artificial Intelligence refers to the simulation of human intelligence in machines that are programmed to think and learn like humans
Continue readingAPI
APIs (Application Programming Interfaces) are sets of rules and protocols that allow different software applications to communicate and interact with each other.
Continue readingAmazon Alexa
Amazon Alexa is a virtual assistant developed by Amazon, designed to interact with users through voice commands and natural language processing
Continue readingAgent Assisted Payments
Agent Assisted Payments refer to transactions where a customer interacts with a customer service representative or agent to initiate and complete a payment.
Continue readingCVV (Card Verification Value)
Three-digit code on credit cards for added security in online transactions.
Continue readingCompliance
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).
Continue readingCustomer Identification Program (CIP)
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.
Continue readingChargeback
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.
Continue readingCrypto payments
Crypto payments are transactions where digital currencies, such as Bitcoin, Ethereum, or other cryptocurrencies, are used as a method of payment.
Continue readingCNP (Card not present)
CNP (Card Not Present) refers to transactions where the cardholder’s physical credit card is not required at the point of sale.
Continue readingComputer Speech Recognition
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
Continue readingCardholder Verification Method (CVM)
Cardholder Verification Method (CVM) refers to the process used to authenticate the identity of the cardholder during a payment transaction.
Continue readingContactless payment
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.
Continue readingCryptocurrency Wallet
A cryptocurrency wallet is a digital tool that allows users to securely store, manage, and interact with their cryptocurrency holdings.
Continue readingCortana
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.
Continue readingChargeback Prevention
Chargeback prevention refers to strategies and practices used by merchants, businesses, and payment processors to reduce the likelihood of chargebacks.
Continue readingNFC (Near-Field Communication)
Near-Field Communication (NFC) is a short-range wireless communication technology that enables devices to exchange data over very short distances, typically up to 10 centimetres (4 inches).
Continue readingDebt collection
Debt collection refers to the process of pursuing payments owed by individuals or businesses to creditors.
Continue readingVirtual Terminal
Online interface allowing merchants to manually enter and process card transactions, typically used for mail or phone orders.
Continue readingDecoded
The process of converting encoded information into its original and understandable format.
Continue readingDigital Currency
Virtual currency existing only in electronic form, not physically tangible
Continue readingDigital Wallet
Electronic version of a physical wallet, storing payment information for online and mobile transactions.
Continue readingEFT (Electronic Funds Transfer)
Electronic transfer of money from one bank account to another.
Continue readingData breach
A data breach is an incident where unauthorized individuals gain access to confidential or sensitive information, often leading to the exposure, theft, or misuse of that data.
Continue readingEncryption
Process of converting sensitive data into a coded format for secure transmission and storage.
Continue readingE-wallet
Electronic wallet for storing digital currency or payment information.
Continue readingFCA (Financial Conduct Authority)
A regulatory body overseeing financial markets and firms to ensure consumer protection and market integrity.
Continue readingFraud Prevention
Techniques and measures implemented to detect and prevent fraudulent activities in payment transactions
Continue readingFintech
Financial technology, encompassing innovative solutions and technologies in the financial sector.
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