Esteve Camps has over 20 years of experience in technology fields including payments, fraud, banking, e-commerce, and digital transformation. He has leadership experience and is committed to meeting company needs by supporting its mission, vision, and values. The document defines key terms related to e-commerce payments such as payment service provider, acquirer, card-not-present transactions, and interchange fees.

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E-COMMERCE PAYMENTS
GLOSSARY
ESTEVE CAMPS
March 2021

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ESTEVE CAMPS
Hello!
Passionate about technology, having more
than 20 years of experience in various
business areas: payments and fraud,
insurance, banking, e-commerce, digital
transformation.
Leadership experience and team
management. Oriented to meet the needs of
the company, with a strong commitment to the
mission, vision and values.

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Payment forms offered to the customer to complete the
purchase.
Payment method

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A payment service provider (PSP) offers online services to accept electronic payments through various payment methods such as
credit card or bank payments, such as direct debit, bank transfer, and real-time bank transfer based on your payment. online
banking. They typically use software as a service model and form a single payment gateway for their customers (merchants) across
multiple payment methods.
Typically, a PSP can connect to multiple banks and acquiring payment networks. In many cases, the PSP will fully manage these
technical connections, external network relationships, and bank accounts. This makes the trader less dependent on financial
institutions and free from the task of establishing these connections directly, especially when operating internationally. In addition,
negotiating massive deals can often offer cheaper rates.
In addition, a full-service PSP can offer risk management services for card and bank payments, transaction reconciliation, reporting,
remittances and fraud protection, as well as multi-currency features and services. Some PSPs offer services for processing other
next-generation methods, including cash payments, wallets, prepaid cards or butchers, and even electronic or paper check
processing.
See also: https://en.wikipedia.org/wiki/Payment_service_provider
Payment Services Provider (PSP)

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An acquirer or acquiring bank is a bank or financial institution that
processes credit and/or debit card payments on behalf of a merchant.
The term acquirer indicates that you accept or purchase credit card
payments from card issuing banks within an association. The most well-
known credit card associations are Visa, MasterCard, American Express
and Diners Club.
See also: https://en.wikipedia.org/wiki/Acquiring_bank
Acquirer or acquiring bank

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Card-Not-Present is a term in the credit card processing industry that is used to
mean transactions in which the debit or physical credit card is absent during the
sale, such as in e-commerce sales.
These transactions present a much higher risk of fraud because the card does not
pass through a card reader and is not present during the sale. Because of this, non-
card transaction fees run with higher exchange processing rates and, in many cases,
higher vendor fees..
Card not Present

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MOTO, or Mail Order / Telephone order transactions are a type of
cardless transaction in which services are paid for and delivered by
telephone, mail, fax, or Internet communication. Because MOTO
transactions take place without the merchant or card being physically
located in the store, they have a higher risk of credit card fraud than card
transactions. Therefore, MOTO merchants will likely pay higher transaction
fees to help offset the potential risk of disputed payments and
chargebacks..
MOTO transactions

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BIN or bank identification number refers to the first six digits of a card.
They identify the card issuing institution that issued the card to the
cardholder, as well as the expanded information provided by the card
issuer.
For a complete description of a card number, see
https://en.wikipedia.org/wiki/Bank_card_number
BIN

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Chargeback is a refund to a payer of some transactions, especially a
credit card transaction.
The most common is that the payer is a consumer. That chargeback
reverses a transfer of money from the consumer's bank account or
credit card. The refund is made by the bank that issued the
consumer's payment card.
Chargeback

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A rebate is an amount paid as a reduction, refund or refund
of what has already been paid or contributed.
Rebate

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In accounting, reconciliation refers to the process of
ensuring that two sets of records (usually the balances of
two accounts) match. Reconciliation is used to ensure that
the money coming out of an account matches the actual
money spent.
Reconciliation

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A Service fee is the price paid as remuneration for rights or services. A service
fee is a fee added to a customer's bill. The purpose of a service charge often
depends on the nature of the product and the corresponding service being
provided. Examples of why this fee is charged are: travel time expenses, truck
rental expenses, liability insurance and employee compensation expenses, and
planning expenses. It is common in paying for the services that a PSP offers to
a business.
Also known as: service charge, surcharge
Service fee

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The Interchange fee is a term used in the payments card industry to
describe a commission paid between banks for accepting card-based
transactions. It is usually a commission that pays a merchant’s bank (the
“acquiring bank”) to a customer’s bank (the “issuing bank”); however, there
are cases where the exchange commission is paid from the issuer to the
acquirer, often called reverse exchange..
See also: https://en.wikipedia.org/wiki/Interchange_fee
Interchange Fee

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When a transaction is made in a country other than the card issuing
bank, the card issuing bank charges a commission to process the
transaction. This is known as a “cross-border” commission, as the funds
cross national borders from the card issuing bank to your local
establishment.
For example: if you use in Europe a prepaid Mastercard card issued in
the United States, the cross-border rate will apply.
Cross-border fee

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An exchange rate between two currencies is the exchange
rate of one currency for another.
Also known as: forex rate, exchange rate.
Foreign exchange rate

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Traditionally, merchants have been responsible for e-commerce returns due to
fraud. Authentication brings the benefits of a change of responsibility.
Liability shift means that the responsibility for the loss of chargeback or
retrocession passes from the merchant to the issuing bank for e-commerce
transactions that are considered fraudulent (those transactions in which the
cardholder has denied participation in the transaction). The issuing bank, in
most cases, is no longer allowed to return these returns to the merchant.
Liability

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SLIDESMANIA.COM
Thanks!
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