3D-Secure is a card payment protection technology for online payments. The technology was developed by Visa. Soon, it was taken over by all financial institutions.
3D-Secure technology is an XML protocol and that is empowered for secure payments. To confirm the identity, the client receives an SMS with a verification code on the phone. But this is just the tip of the iceberg. There are not many ways for payment systems and banks, as they can check who uses the card to pay. The term “3D-Secure” itself translates to three domain protection. 3D = 3 Domains. In this case, 3 domains are involved:

  1. Issuing bank;
  2. Bank Acquirer;
  3. Payment system.

If 3D-Secure technology is enabled on the card, another step appears between entering the card data and the actual payment. The cardholder must enter a secret code. This code can be either permanent or one-time. The permanent code is less reliable, since it can also be lost, for example, when paying on a computer that is infected with a virus. But usually comes a one-time digital password.

The bank sends the code only to the phone number indicated in the agreement between the cardholder and the issuing bank. It helps to identify that the transaction is made by the cardholder to avoid fraud. If a cardholder has a required sum the transaction is succesfully made.


A high-converting sales page or landing page is a page on your website that has only one purpose: to force potential customers to buy something. The main reason when creating a landing page is to make an offer visitors can’t refuse. If not, at least, to make people want your product. These could be order, callback request, or leaving contact data.

The main steps to create a sales-page are:

  • Create a unique sales proposition.

Try to formulate a proposition in such a way that the user cannot refuse the offer. The uniqueness of the offer, advantages, solution of problematic issues of a potential client. Based on these data, a unique trading offer is formed.

  • Advantages

A more detailed description of the benefits and features of your offer.
It is very important to find a balance in this question and try to not go deep into so deep that your high-converting sales page will seem to be oversaturated with text. Write a short summary of one paragraph and 3-5 key points that clarify the main aspects.

  • Buttons

The better CTA buttons – the better they attract customers to click them.

  • Create a high-quality headings

Create such headings, that motivate visitors to make a useful action, and this motivation should be based on the needs of a particular user.

People do not like to spend a lot of time searching for information. Therefore, it is better to present the information as briefly and clearly as possible to the user.

An Acquiring Bank is a banking institution that organizes automated points for receiving plastic bank cards. But the functionality of such a bank includes not only the installation of terminals.

  1. Acquiring Bank processes requests for authorization of bank cards.
  2. Transferring payment means received from cardholders to the account of the organization.
  3. Maintaining paper and electronic document circulation with participants in transactions within the framework of the provided service (customers, legal entities, issuing banks, etc.).
  4. Fulfillment of other obligations undertaken upon connection to a particular payment system


For their services, bank acquirers receive a reward. On the other hand, a financial institution gets a percentage of each card payment. In some cases, combined tariffs are applied that contains a fixed component of payment and a certain percentage of the amounts transferred.

An acquirer bank is an authorized bank that organizes plastic card collection points. It also offers a full range of services, including servicing settlements, payments by bank cards at established terminals, ATMs. 

What payment systems does the acquirer bank work with? 

A payment processing center, settlement bank, issuing bank, and acquirer in the aggregate provide customers with the opportunity to make payments through bank cards. It comes following applicable standards, rules, and technological schemes that determine and regulate the procedure for servicing cards.



The Address Verification Service (AVS) is a system, that could help companies to prevent frauds and decrease the number of chargebacks.

It helps to ensure that the customer enters a real address data associated with a credit card account. AVS is a widespread solution but its origin belongs to MasterCard.

The issuing bank compares the entered address with the address it has in a database while the checkout process.

Online transactions are commonly related to online fraud. AVS systems assist in preventing undesirable influence that could cause, data losses, chargebacks.

What happens next, after the client enters payment data on the webpage:

When the customer completes the transaction, the store automatically sends a request for user confirmation to the payment provider. The client provides the address in advance. The processor compares the entered address and the address that is in the issuing bank. The transaction will be rejected if the addresses are different. If the addresses match, the bank approves the transaction and sends the response code.

This process takes only a few seconds and is invisible to your customers.

Too intrusive use of Address Verification Service can cause decreasing the number of transactions. It could affect customer loyalty and the company’s profits. At the same time, loosening the audit increases the risk of fraud.



A user interface, usually a collection of graphic reports, where workers of a company can customize, view, or collaborate on shared business data such as overall sales, volume, approval ratios, Conversion per User (CPU) rates, and traffic.

BIN (Bank Identification Number) is a number that gives full information about the bank. Besides, it is part of the card number. Specialized institutions can quickly identify the bank within the card payment system during authorization, processing, and clearing.

The part of the credit or debit card number that works to identify the bank or financial institution that will process the transaction; the first six figures are assigned by VISA and MasterCard for this purpose.

The Bank Identification Number (BIN) of the card consists of 6 numbers. Every plastic card contains this number at its beginning.

What does each Bank Identification Number number mean?

  1. The first digit of the BIN is a number that indicates the type of payment system that serves the issued card.
  2. Form the second to the fourth are the number of the payment system bank.
  3. The fifth and sixth digit BIN is an additional product identifier, according to the banking product category.

BIN is used for transfers between cards – for bank identification within the framework of a card payment system during authorization, processing, and clearing.

Wire Transfer – bank money transfers of non-cash funds.

The wire transfer is one of the very first types of money senders. The process involves the sender, the recipient and the third party – the intermediary. Agent banks, postal organizations or various payment systems can serve as an intermediary.

Both individuals and legal entities can conduct financial transactions through Wire Transfer. Wires Transfers are carried out not only within one country but also beyond its borders. The sender pays a fee for money transfer, the recipient of the transfer does not need to pay for the receipt.

How to send money through a wire transfer?

In order to transfer Wire, the intermediary-agent may require the opening of a current account. However, many agents for individuals do not consider this stage of the transaction necessary.

The sender simply fills out a form in which he indicates his data, the recipient’s data, the amount and purpose of the transfer Then, he deposits the indicated amount and the commission charged by the intermediary to the cashier. The recipient contacts the nearest bank or post office with an identity document and receives cash.

Is wire transfer safe?

A distinctive feature of the Wire transfer system of wire transfers is a high degree of security of financial transactions and information protection. International statistics indicate that Wires are much less likely to reach the recipient than the amounts sent using other transfer systems.

A list of countries specified by the Merchant that should be excluded from the business transactions. These can be specific to address of billing, shipping, or BIN.

Billing and Settlement Plan (BSP) is the universal system of mutual exchanges that replaces individual schemes of agents and carrier cooperation. The system serves for effective collaboration of IATA parties with the help of consolidation information and financial flows. One of the main advantages of BSP is the possibility to operate with e-ticket normal.

Billing and Settlement Plan deals with the sale and settlement of passenger traffic. BSP emits own, neutral airline tickets forms and sends them to agents – members of BSP. An agent is able to sell airline tickets of any airline which is a member of a current BSP.

The principle of BSP work

An agent sells shipping using BSP ticket forms and affixing a 3-digit carrier code on behalf of which he issues a ticket. The agent reports to BSP four times a month, that is, it presents control coupons and coupons accepted for return. Then, in accordance with this transfers BSP money for the sold transportations, leaving itself a commission. BSP processes this data, groups it by agents and airlines and makes up two reports (for the agent and for the carrier), sends them and transfers the money.

The advantages for BSP agents

  • A single reporting center -BSP;
  • Unified reporting forms.
  • The ability to sell on flights of all BSP member airlines in a local country.
  • The absence of the necessity to set agreements with each airline.

The advantages for airlines

  1. Simplification of the system of monetary settlements.
  2. Hassle-free receipt of money.
  3. Obtaining the completed infrastructure of the bank, a unified agent network, which allows you to cover the entire market by attracting agents. These BSPs members represented on the entire territory of BSP to sell flights on their flights.


The processing period between two billing statements, normally consisting of seven (7) days.

A set of data elements collected from previously known deceitful transactions–IP addresses, for example–that can be used by the Merchant or a processing bank to create filters that flag or block an incoming sales event.

Blockchain is a public database of all transactions ever committed in the Bitcoin system. Using this database, each user has the opportunity to find out how much Bitcoin belonged to a particular address in a certain period. The distributed efforts of many miners support the base.

The advantages of blockchain technology:

  1. Decentralization. The central storage server is missing. Each participant in the system stores all entries.
  2. Transparency. Any participant can track all the transactions that took place in the system.
  3. Security. Data encryption prevents online fraud. The user can track all transactions, but cannot identify the recipient or sender of information if he does not know the wallet number. For operations, all parties have a unique access key.
  4. Reliability. Any attempt to make unauthorized changes will be rejected due to inconsistency with previous copies. When a user wants to make a change, he receives an individual unique code.
  5. Compromise. Other participants verify data. In other words, they recalculate the hash.

Bitcoin was the original digital currency to use the technology, but the technical community is currently looking for other potential uses for this technology.

Thanks to the technology of blockchain, Bitcoin has become the first digital currency that solves the problem of double expenses without the use of any authoritative body or central server.


The bounce rate is the percentage of visits (or sessions) with only a one-page view. It shows the number of visits during which the user left the site immediately after viewing the landing page. Google Analytics calculates the bounce rate for the page and site.

The bounce rate is not always a negative factor.

If you are faced with the task of attracting users who view more than one page, then a high bounce rate is terrible. For example, if there are links to various sections on the main page of a site, such as application pages, and you need site visitors to go to them, it is not crucially that the bounce rate is low.

If you have a one-page site – for example, a business card site – then sessions with viewing one page are entirely normal, and a high bounce rate cannot negatively impact.

How to minimize the bounce rate:

  • Make a landing page that is visually appealing and loads quickly.
  • Stop advertising for keywords and sites that do not drive valuable traffic.
    If users who do not need a product/service come to the site, they immediately leave it.
  • Create landing pages that meet users’ needs.
    If you get good traffic, but the landing page does not satisfy the user’s request, then he will quickly leave the site.
  • Highlight a call to action.
    If the call to action (CTA) is not enough on the landing page or it is poorly visible, then it will be difficult for you to keep users on the site. Headings, subheadings, and tips are a great way to make CTA noticeable.
  • Write a CTA relevant to the landing page
    CTA can cause both entry to and exit from the site. A call to action can be issued in the form of a button, banner, video, or link to a page of your or an external site.
  • Place easy-to-understand content on the landing page.
    You need to create content that can be taken quickly and easily: use short abstracts, images, and infographics.
  • Encourage the user to go to other pages.
    It is the main reason why even the best landing pages have a high bounce rate. It doesn’t matter if the landing page has satisfied the user’s needs or not. You should always provide several options to continue browsing the site.

Business Identifier Code (BIC) or S.W.I.F.T. code is a unique identification code of a bank or any other participant in financial settlements, which is used when transferring funds from one country to another between banks participating in the BIC / SWIFT system, according to the ISO 9362 standard.
A BIC code is a unique identification code of a bank or any other participant in financial calculations that are assigned to a participant in joining the Society of World Interbank Financial Telecommunications, which is used for international money transfers between banks.

What does BIC code mean?

According to the standard, a Business Identifier Code code is a digital combination of 8 or 11 characters. It consists of letters or a combination of letters and numbers, and looks like:
Each letter group of the code means the following:

  1. BBBB is a unique letter code of a bank or financial institution. It always consists of four characters and identifies the participant in the calculations.
  2. CC is a two-character alphabetic country code according to the ISO 3166.
  3. LL – an alphanumeric code for the location of the bank in the country, consisting of two characters.
  4. DDD – bank branch code

SWIFT is an electronic payment providing system that operates between banks in more than 200 countries of the world.
The following currencies are available:

  • US dollars
  • Russian rubles;
  • Swiss francs
  • British pounds;
  • Euro.

Capture is a process that defines the process of funds fixation after payment authorization. When one uses a credit or debit card, to finish the payment process, a payment institution must authorize the card first.

This authorization step takes only several seconds. It also allows a merchant to be aware of the necessary amount for purchase presence.

The money will not leave an account instantly. However, they will be reserved only for the completed payment.

After the funds’ withdrawal, the sum which has been fixed for purchasing as a pending credit/debit operation will be indicated in your application. At the same time, a bank blocks this amount for other purposes.


Card authorization is a procedure of issuing a carrying out bank card operations permission. An issuing bank is the one that emits such permission. Some of the most common areas of usage are ATMs in a retail store or online.

At the moment of an authorization a technical device, which works with a card, sends a request in a bank processing center and in the case of success, receives an alphanumeric authorization code that allows to withdraw or deposit money.

The procedure of identification and checking a cardholders’ rights may vary in different bank terminals. An ATM always requests a PIN of a user while POS-terminals request PIN only for cards with a chip. Again, online payment gateways require a security code.

Nowadays, each bank card authorization is provided online, but earlier, at the age of imprinters, voice authorization has taken place. The purpose was to increase the permissible limit for banking operations. In this case, a call from the store to the bank confirmed the charge off.

Every authorization made leaves a trace – a code that is stored in the terminal memory is printed on a sales receipt or a receipt from an ATM. This code is unique and helps you track every authorization — where, by whom, and when it was authorized — to have an opportunity to solve disputes.


Card Not Present (CNP) transactions is a type of bank cards payment when a cardholder hasn’t to be present at the place of making transaction.

Card Not Present operations include:

  • Any kind of online transactions.
  • MO/TO transactions (mail order/telephone order)
  • Recurring payments.

When a customer performs a purchase, if a card is not present, a merchant has to rely on data that a cardholder provided indirectly. There may be via phone, email, or Internet.

The shipping carriers companies can guarantee the delivery of goods. But, they usually do not require verification of the identification of the buyer and do not participate in the processing of payments to the seller.
Transactions in small amounts, typically, are less subject to verification and are less likely to be precisely examined by the card issuer or a trading company.
Therefore, outlets through CNP operations must implement additional security standards against the impact of fraudsters and related losses. It is reflected in a higher payment to the acquiring bank for the right to accept payments without the card presence.
With the growth of Internet payments, cases of fraud with online transactions are also growing. Consequently, Visa created an authentication standard for online payments called 3 Domain Secure. 3D Secure provides three-level protection for additional consumer security.

How to secure CNP transactions:

The security of online transactions is one of the most significant moments every merchant should pay attention to. However, not only a merchant should be aware of the security but also the customer is:
  1. Set a limit for online transactions.
  2. Avoid unverified internet access points.
  3. Do not give card to third parties.
  4. You should always have a bank emergency number so that you can instantly block the card.
  5. Connect mobile banking to monitor your account

Pre-authorization is one of the ways to process bank cards.

The pre-authorization of a bank card is a temporary deduction of funds and reserve them for a subsequent transaction. Depending on your seller, this may take up to 5 days.
During this period, funds are not available for the client. The client will not be able to use this amount anywhere else. However, the money from the client’s card was not debited but simply reserved.

Customers often encounter this type when booking something, such as hotels. The hotel sends a request to the bank for pre-authorization to confirm the solvency of the client at the time of booking. In this case, the money is not debited from the client’s card but simply frozen for a certain period, for example, until the end of the settlement. During this period, the client cannot use this money on the card, while they remain in his account.

Depending on the further situation, the money may be debited from the card or thawed. Typically, the payment processing process is highly dependent on the company that provides the reservation services themselves.

Advantages of a pre-authorization

  1. Pre-authorization is an effective way to prevent chargebacks.
  2. Increasing customer loyalty. There are times when it is necessary to cancel an order. In this case, if the client made a payment, you will encounter a chargeback. With pre-authorization, you can avoid chargebacks and the client will be satisfied.
  3. You don’t need to pay MDR fees beforehand.


Card-Present transactions are those that are done with the physical presence of a cardholder and a bank card.

If a bank card has a chip, you can place it into the terminal. It other cases, a customer can swipe the card with its magnetic stripe on the reverse.

Ways to provide a card-present transaction:

  • Magnetic stripe.

Having a majority of cards with chip authorization, there are still a lot of cards that have only magnetic stripe authorization. The usage of any international cards without a chip is similar.  To process this type of transaction, you need to swipe a card in the terminal and follow further instructions. To process a transaction, a cardholder has to approve it with their signature. A fraudulent transaction or falsification of a signature can also happen. In this case, a client has the opportunity to dispute the payment.

  • Chip’n’signature transactions

For customers who have difficulties when using a PIN code, there are cards where a chip and a signature are used as authorization. To make a transaction, you must also insert a card into the terminal and follow the instructions. Also, the cardholder must log in. To do this, he introduces a signature that matches the one on the card.

  • Chip’n’PIN transactions

When working with a chip & PIN card, the user inserts the card into the terminal. Next, a 4-digit password is entered on the screen. When the card is authorized, the seller is protected from cases when customers claim that they did not participate in the transaction.

Card Verification Code / Card Verification Value (CVC, CVV) is a digital code located on the back of the card that confirms the authenticity of the card. It is needed to ensure security when paying by card on the Internet.

CVC/CVV – bank card security code. It is consists of three digits (American Express cards have 4 digits). The code is used for further identification of the owner when making online transactions.
The CVC code is considered the personal information of the cardholder and the bank is not entitled to transfer information about customer card codes to third parties.
The identifier on the back of the card is considered additional protection since it is impossible to make an online payment without entering it. At the same time, this is a risk factor, as the code is located on the card. If the plastic card gets up into the hands of a fraudster, then all the essential information will be available to them. Therefore, to secure your funds, never give the card to the third parties.

How to find CVC code for a virtual card

This type of card usually consists of information without a physical representation. Such payment instruments are issued by many banks and other financial organizations. They are specifically designed for payments via the Internet.

The CVC code of the virtual card is sent after it is issued to the client via SMS. Or an email to your online bank account. If for some reason you have lost the code, you need to contact the bank to restore it.

A Chargeback may be presented against the Merchant’s account by the Issuing Bank with no attempt to first settle a dispute. It then falls to the Merchant to dispute the Chargeback.

A chargeback is a general procedure for canceling a transaction by payment systems and further disputing. In other words, this is a refund to the cardholder. A chargeback could be obtained from almost any institution or organization if you transferred money to the bank account of a legal entity from a card.

When a customer can initiate a chargeback?

  1. When a customer did not receive a service/good.
  2. The product description on the company’s website does not match with an order.
  3. System error led to incorrect payment.
  4. Money is withdrawn a few times due to technical error.
  5. When a merchant changes the amount for a good unreasonably.
  6. The seller refused to accept the goods back even if all the conditions were met.
  7. A merchant did not receive funds to the account due to a technical error.
  8. A transaction was provided without the permission of the cardholder.
  9. Other serious reasons to consider a payment invalid.

Any client who wants to appeal the withdrawn amount and return the money has the right to apply to the bank with a corresponding statement, but the reason for starting the chargeback must be serious.

According to the rules of international payment systems, a protest of payment is possible in case of an unauthorized payment, a dispute between a customer and a merchant and service company, fraud and error in processing a payment.

Chargeback reason code is an alphanumeric code that helps parties to identify what was the reason for the issue.

All parties involved in the payment providing process, are incentivized in reducing the number of chargebacks. That is why there are 2 to 4 digit designations that help to identify the problem quickly.

Worldwide chargeback reason codes by credit card brands

The variety of credit card brands conditioned upon many factors. Some agencies work in some specific regions, some with unique businesses. These impediments led to different brands have different chargeback reason codes.

Discover Chargeback Reason Codes

Discover company has alphabetic, numeric, and alphanumeric codes. The alphabetic ones are usually easy to understand. The code “CA,” for instance, stands for a cash advance that was not completed.

Of course, not all of them are so recognizable. However, all financial institutions are ready to dispute your chargebacks.

Mastercard Chargeback Reason codes

Since 2016, the Mastercard has been using contracted reason codes.

Until now, the code was a long chain of characters that were difficult to identify quickly. Currently, the view has been simplified and has four symbols.

Visa Chargeback Reason Codes

Visa company categorizes chargeback reason codes into the following categories:
non-receipt of information

  1. Fraud.
  2. Authorization Error.
  3. Processing error.
  4. Canceled or returned items.
  5. non-reception of goods or services.

Each group has its action protocols.

Amex Chargeback Reason Codes

There are four categories of chargeback reason codes used by American express. In this case, the code itself includes a letter designating a category and a 2-digit code.

  1. Authorization Issue (A).
  2. Processing Error (P).
  3. Cardmember Dispute (C).
  4. Fraud (F).


Cloud storage is a service that allows you to store data by transferring it over the Internet or other networks to a storage system operated by a third party. On the web, you can find hundreds of different cloud storage systems – from personal storage to corporate ones.

In some of them, you can contain and archive email messages, videos, and other individual files of users. Others can be beneficial to corporates as a commercial solution for remote archiving. It allows you to safely transfer and store files data, and use it from different locations.

Cloud storage is usually scaled according to the storage needs of the user or organization and is accessible from any location and device without requiring the use of an application. 

There are three basic models of cloud-based storages exist:

  • A public cloud – a storage service suitable for unstructured data.
  • A private cloud – a storage service that is securely located with a corporate firewall for more control over data.
  • A hybrid cloud – a storage service that combines private and public cloud services for increased flexibility.

Benefits of Cloud-Based Storage

  1. Files are available wherever an internet connection is: you can access from your phone or PC remotely.
  2. Save space or expand memory: one can save photos and videos in the cloud to save more local space.
  3. High file transfer speed due to an extensive geographic network of servers and CDN.
  4. Reliability of storage: even if one server fails – there are copies of data on other servers.
  5. Excellent opportunities for business and remote employees: one file is available for editing to everyone who has access.




A co-branded card is a card that a seller of goods or services issues in partnership with an issuing bank. Moreover, such cards allow you to receive additional discounts for your customers, for example, in a chain of stores.

If even the client is not interested in purchasing a card of a specific bank, then the presence of bonuses or other benefits will prompt him to order a co-branded card. It allows you to expand the boundaries of your business, attracting more customers.

How do co-branded cards work?

Co-branded cards work like another type of bank card, the cardholder can pay her for purchases, withdraw cash and more. On these cards, most commonly, there is a logo of partner companies.

In order to issue a co-branding card, a merchant or organization must act as a partner of a financial organization. Usually, acquiring bank acts as a partner. In other words, a company that accepts and processes payments. This is the easiest and most convenient way.

Another option is to choose a third-party provider as a partner. For example, American Express – this company, being both a payment processor and a financial organization, provides co-branding solutions. Visa company is the other example.

Acquirer processes customer transactions that use any type of card transaction. If you use a co-branded card, then the transaction process becomes easier. When working with a third party, additional subjects are involved in the process.


The Merchant’s tool for integrating all of their products and services with Payspace payment solutions.

Conversion is the percentage of the number of users who have performed a useful action, expressed as a percentage, to the total number of site visitors over the same period. This is an indicator of the effectiveness and profitability of your resource.

The goals are expressed as follows:

  1. Ordering a good.
  2. Check-in.
  3. Email news seller subscription.
  4. Engagements.

How to increase conversion rate?

  1. Calculate the sales conversion not only for the entire department but also for each sales manager. Thanks to this, understanding will come who works better and who works the other way around. Read more about the motivation of sales staff at the link.
  2. To improve the work of sales managers, connect a CRM system in which customer information will be stored, and necessary information will be automated.
  3. In addition to employee performance data, sales conversion information helps highlight weaknesses in the business. To eliminate them, you have to test various tools. For example, offer customers promotions, bonus cards.
  4. It is also essential to know the specifics of the business, for example, the seasonality of demand. 
  5. Try to tell customers about the value of your product or service through the launch of display advertising, in which all the opportunities will be presented. 
  6. If you have a website or an online store, then work out a presentation of a product or service. Post reviews on product pages and invite customers to share their opinions. For incentives, try offering discounts or gifts for feedback.


Credit card processing is a data processing operation used in providing financial transactions. This process is an essential activity in provider centers.

The most popular for attracting processing services were two groups of financial transactions:

  1. Processing of electronic payments.
  2. Processing of plastic cards.

When processing electronic payments, the operation takes place by transferring funds from the online store to the company’s current account.

Payment processing centers

Credit card processing centers are technology systems operating on bank sites and integrated into payment system networks. They help merchants accept and provide payments on prepaid, debit and credit cards.

These organizations check the details of the transactions, the availability of funds on the cardholder’s account. They also make certain measures to eliminate or reduce the level of fraud using payment instruments.

When processing data using bank cards, money is received on payment cards for the purchase of products or services in the online store.

The process involves card companies that usually do not issue cards, but are included in the processing and supporting transactions in the interests of other players. There are processing centers that provide services to merchants and can transfer money between banks. Some banks issue debit and credit cards for consumers.

The bottom line

Accepting payment online you will always be in the trend of world financial technologies. This will allow you to get all the convenience of online processing:

  1. Terms of connecting and integrating the site into the system.
  2. Frequency of payments.
  3. Security and international license.
  4. Customer risk insurance and customer support.


Many payment support services offer plug-ins to their Control Panels such as geo-location reporting, Banned Country Lists, restrictions on payments, flags on previous transactions, duplicate charges, or other filters. As well as these customisable rule sets, Payspace additionally provides the data mining module that supports advanced marketing and traffic conversion needs for high-volume sales Merchants.


A sum paid in advance of goods being delivered, or money paid into a banking account against a future purchase or withdrawal.

Information about a Transaction that appears on the cardholder’s bank card statement, including the Merchant’s name or ID, telephone number, website, or other information, up to a standard 22 characters

A file that is transmitted with an electronic attachment that allows assignment of a personalised key to open it.

This is a payment, made by using electronic telecommunications and electronic payment instruments. Electronic telecommunications include information networks, primarily the Internet and cellular networks, a network of ATMs and electronic payment terminals, POS terminals..

the initial creation of a new product in digital form. For example, a dynamic training course with animation or an interactive document commenting system. This product cannot be transferred to physical media without significant loss of its quality.

Currency conversion during the execution of transactions through bank cards occurs when the currency of the transaction is different from the currency in which your card account is opened.

This feature allows the customisation of the 3D Secure secondary security layer, enabling the Merchant to decide when it should be used, for example, at what price point to ask a customer to provide the answer to an additional security question.

A feature that allows selection of individual Application Performance Management services so that clients pay for only what they need.


A method of payment wherein the Merchant verifies or pre-authorises a cardholder’s account and processes the cardholder’s funds directly into their own account with fewer processing delays.

The paperless transfer of money from one account to another without the direct involvement of bank personnel, using a personal PIN number, and incurring an Interchange Fee that is borne by the Merchant. An alternative is an Offline Transaction.

A technology used by the Merchant to authorise a Transaction or to record data automatically at the time of the Transaction that can then be uploaded to other servers or to generate local reports.


An agreement between Europay, MasterCard, and VISA to allow their cards to be used on a global payment system.


A license to conduct business granted by the Financial Conduct Authority, which in 2013 replaced that granted by the Financial Services Authority (FSA). The fee-based membership license regulates the business conduct of more than half-million companies in the UK.

A person or automated system that considers unusual activity based on previous account activity, and flags or investigates accordingly, in order to minimize fraud.

Incoming Transactions are run through hundreds of advanced filters specific to every Merchant and Transaction payment method, using award-winning technologies and the Merchant’s own created rule sets to automatically flag, accept, or reject a Transaction. Ikajo International’s own antifraud system integrates with MaxMind and Ethoca scoring services to minimize Chargebacks and fraud

A wire-transfer network or clearing house or other system that transfers payments directly between its members or provides a network to pay and receive payments from non-members.


Working with geo-IP mapping technologies, this module can create customisable filters that check the data of every Transaction against lists and filters created by the Merchant.

Payspace relies on top analysts, coders, and award-winning platforms to create and maintain its self-learning databases, allowing industry-specific no-sale or conditional sale lists to be created around various parameters.


A business is considered high-risk due to a variety of factors:

  1. Loss of account due to the fact that personal credit or financial companies cannot support the sales for which you are applying
  2. Your service or product has a longer chargeback period.
  3. You are in an industry that has a high-chargeback history. The bank considers that they will spend too much resources on managing your account and, ultimately, have to disconnect you, regardless of whether you exceed the thresholds of the chargeback.
  4. The account has a “reputational” risk, for example, in the adult industry condition.
A way for a customer to make a payment for a service without leaving the service’s mobile application. These can be pre-authorised so that one-click payments can be made quickly

Also called a Member Service Provider, an organisation that works on behalf of the credit card company or bank to create new client relationships.

Payspace makes it easy to integrate with Acquirers all over the world, providing solutions for online and mobile payments, e-giftcards, and e-wallets that store customers’ data for one-click transactions. Payspace support teams will help Merchants decide on and test services specific to their payment processing needs and will be there to help as the global network expands.

A Transaction charge paid by the Merchant to cover the processing costs of the credit or debit card.

Used by all accounts in the EU countries plus a few others, this format is standardized to include the cardholder’s account number, the bank’s ID number, and the country of the Issuing Bank, in order to allow for international payment Transactions.

With dynamic currency conversion, Payspace makes it easy to receive and send money to email addresses and telephone numbers as well as to banks and financial institutions, depending on the integrated service.

One method used to flag potentially fraudulent credit card transactions, comparing the customer’s computer IP country address with the country of the card’s Issuing Bank.

The financial institution that granted the payment card account. VISA and MasterCard pay these institutions to provide services to the bank’s customers.


A set of guidelines intended to protect banks against fraud, whether intentional or unintentional, by encouraging the collection and maintenance of specific kinds of data that allow the bank to see unexpected use patterns or discern early fraudulent activity. Many regulators require that banks follow these guidelines as policy and proof of due diligence in preventing fraud


Alternative to card-based payments, these methods including e-wallets, vouchers, prepaid or pre-authorised debits all have their own Settlement terms, and all are subject to their own specific rules and regulations. With payment processing in 32 countries all over the world, Payspace allows Merchants to accept such Local Payment Methods as easily as accepting VISA or MasterCard.

Used in connection with location-based marketing, these transaction-based incentive offers to reward customers who make frequent purchases.

Used by many credit card companies when they assign card numbers, the Luhn system includes “check” numbers between the meaningful numbers on the card in order to provide a “check” against numbers being entered by error. An algorithm can then be used to automatically determine if the sum of the numbers entered equals the expected “check” digits.


A Transaction that is processed through mail or telephone order and the internet, often used by call or order fulfillment centres.

To handle the challenges of cross-border payments and regulatory fees and statutes, Payspace Manager Modules increase efficiency in organizing incoming and outgoing Transactions.

A secondary layer of security provided by MasterCard in which the customer has an additional code on file with the Issuing Bank. This code is requested during the Transaction to provide additional security for MasterCard customers.

A seller of goods or services that has agreed by contract with an Acquirer/Acquiring Bank to accept its credit cards in payment.

Along with a real-time Merchant and Agent Accounts interface, 99% uptime, and 24/7 tech support, Payspace assigns a personal Account Manager to each Merchant who will help build the payment platform that works best for that business. Our international teams work closely together and can answer all questions concerning risk and compliance, as well as general questions of finance and management, and the Account Manager will work to keep Merchants up to date of new opportunities and solutions as they are integrated.

The Merchant information needed to begin processing payments should be entered on this form.

A bank that is licensed by VISA/MasterCard to provide Merchants with means of accepting credit cards as payment for goods and services rendered.

A four-digit number, assigned to the Merchant upon approval of the contract to accept MasterCard and Visa payments, that identifies the Merchant’s business by type and level of Interchange Fees charged.

Generated by the Acquirer/Acquiring Bank, each MID is specific to the Merchant and the location of the business that is contracted to accept the credit cards.

Merchants can review their own Transactions, set rules, flag users, and perform many other tasks independently, and for questions they still have, Payspace`s tech support team is available around the clock, 7 days a week.

A fee paid by the Merchant to the Acquirer/Acquiring Bank.
“Negative Lists” that the Merchant has previously created can be imported into Payspace or new ones can easily be made.

“Positive Lists” can be created or imported by Merchants with Payspace as well as Merchants’ Negative Lists

This authorisation process used for paper checques and vouchers is based on Magnetic Ink Character Recognition technology and employs three sets of three numbers to encode payment routing information about the bank and the specific Transaction.

Required of banks in the euro area, the European Central Bank requires credit institutions to hold deposits on account in their own national central banks. These minimums must be maintained subject to the Eurosystem’s requirements.

generation of new cryptocoins, which is carried out in the process of performing mathematical calculations of the hash functions for the implementation of transactions by the nodes of the cryptocurrency network. Since there is no single center, large computational capacities are needed to ensure fast execution of transactions and stable operation of the peer-to-peer network.

Magnetic card readers can be attached to smartphones or tablets, allowing the device to become a mobile payment terminal.

Allows Merchants “on the go” to accept secure Transactions using mobile technology across multiple platforms and devices.

Any payment service that is performed using a mobile device or with the mobile device being the Point-Of-Sale recorder.

Electronically stores credit and debit card information on a mobile device rather than having to carry the physical cards for payment processing.


A set of protocols that allow two devices that are within a very short distance of each other–about 4 cm–to communicate with each other wirelessly. Cell phones, for example, can be used to swipe at a check-out terminal or at NFC Stickers.

An adhesive-backed microchip tag that can store small amounts of information useful for Near Field Communication technologies.

A bank that does not offer full retail banking services


Also known as a Signature Debit Transaction, this debit card processing method avoids the EFT PIN system and its resulting Interchange Fees but may result in delays and additional fraud.

Omni-digital business model stands for using digital only means to communicate with the clients. Customers eliminate interacting with the brick-and-mortar branches/offices to get products or services. To provide smooth customer experience, businesses need to make sure their online stores/website/applications work equally well across all digital platforms.

A business model that encourages brick-and-mortar stores to be available on mobile technologies, websites, online applications, and social media, in order to facilitate customer service, brand presence, and accessibility.

A secure authorization process relying on Point-of-Sale approval devices and real-time EFT technologies, incurring Interchange Fees.

A horizontally structured business model that allowed internet service providers to work with existing telephone and fm technologies; the result of these policies created standardized divisions of industry such that a network itself remains open and ISPs provide services on that network. Policies that guide the structure then ensure that an ISP will never compete with a network infrastructure provider


is a type of financial relationship between individuals on the Internet, in which they do not use the services of a third party.

The stage at which payment for goods or services has been received by the processing agent from the cardholder’s bank.

The stage at which payment has been transmitted to the Merchant by the processing agent. The difference between Pay-in and Pay-out dates can be due to regulatory compliance holds, fees, or other processing policies

A hold of funds on the account against the amount that is intended to be charged, until such time as the Transaction is completed. This process and the fees incurred are specific to the card or account and whether it is a debit or credit card account.

The trademark holder of a Co-branded Card, whether credit, debit, or prepaid, that processes cardholder data

A set of policies that Merchants must follow to protect cardholders against misuse of their personal information, specific to wireless transmission of card data. Compliance is confirmed annually, usually by means of a self-check questionnaire to the Merchant.

In order to make a deposit or payment, customers input data into an online web based payment page (checkout page), hosted by Payspace.

Payspace offers a wide range of online payments tools, both global and local, and supports more than 250 online payment methods. With a single technical connection you can accept most of them through your international Payment Pages.

Merchants can customize payment methods or limits in many ways: for single Transactions, for specific elements in a Transaction, or for general groups of items for specific time frames, for instance.

A business that provides online Merchants with a Payments Gateway by which they can accept multiple payment methods from consumers across the world. Full-service PSPs not only collect, authenticate, and process payments, they also offer risk management services, reporting, and various levels of fraud protection. Ikajo International uses their own antifraud system, integrated with MaxMind and Ethoca scoring services, to minimize fraud and Chargebacks. They provide real-time support for online payments, mobile payments, and e-giftcards, and they offer the Payspace e-Wallet to allow customers to make flexible and one-click payments with a host of input devices.

A Merchant service that facilitates payment between a Merchant portal, such as a website or mobile phone service, and the front-end of an Acquiring Bank or payment solution.

A number allocated to a single individual that authorizes electronic transactions using the account. PINs are often required at POS Terminals in order to complete the Transaction.

Also known as Password Harvesting, the act of posing as a known company in order to trick customers into divulging password or credit card information.

An electronic device used at the POS Terminal to allow cardholders to enter Personal Identification Numbers

By integrating checkout services with more than 250 payment platforms, Payspace provides customers with local forms of payment that they may feel are more secure than international ones while allowing Merchants easy access to their funds, Control Panel, and quick reports.

The location at which the customer makes the purchase

A technology used by the Merchant to authorise a Transaction or to record data automatically at the time of the Transaction that can then be uploaded for collation with other data or to generate local reports.

Also known as second chargeback, VISA uses this term to denote the phase immediately preceding Arbitration to determine whether the Merchant attempted negotiation with the customer and whether the Chargeback is further disputed.

A card that can be bought with funds already “loaded” onto it and can then be used to make purchases. Prepaid Cards often use PIN systems that allow online purchases as well as POS.

The bridge between the Merchant and the Issuing Bank of the customer’s card, often a 3rd party that handles the posting of Transactions for authorisation, the posting of fund requests, the receipt of accounts, pay-outs, Transaction reports, billing, and other services.


Rather than servicing requests in batches, real-time processing handles individual requests as they are received rather than at some later time, increasing protection against fraud.

An alphanumeric string of text provided to the Merchant by the cardholder’s Issuing Bank that explains why the Chargeback is being presented against the Merchant’s account.

A charge that is pre-authorised by the cardholder to re-bill on a specific timely basis, often used for recurring services

voluntary return by the point of sale to the buyer of the payment made by him earlier on the card against the purchase. It is carried out at the request of the buyer.

The credit reporting agencies (CRAs), also known as credit bureaus, special institutions that gather all your credit information, it is highly recommended to get to know about their operation so as to avoid unnecessary confrontations.

A two-digit number that works as a response by the Issuing Bank to the request for funds and the reason for that response, for example, code 08 “Honor with Identification” or code 54 “Expired Card.”

When sufficient proof is provided to the cardholder’s Issuing Bank that the requested Chargeback should not be granted, a reversed chargeback puts the money in dispute back into the Merchant’s account from the cardholder’s, where it had been returned with the Chargeback.

A person who uses knowledge of risk policy, current international country data, and specific Merchant reports to monitor suspicious Transactions. A personal risk analyst can help a Merchant work the Rules Engine to automate fraud-reducing processes and checks.

Using Real-time Processing, Merchant-set rules for fraud prevention, and personal around-the-clock oversight, Payspace provides tools that allow the Merchant the freedom to assess risks for themselves and quickly adapt to their own customer populations and risk situations.

If a Merchant has a high risk or high rate of Chargebacks, the Acquiring Bank will secure a percentage of regular sales to provide a buffer against these Chargebacks. The funds are held for a set period of time in the Merchant’s own account and are released after that time

Allowing the Merchant to set values for all types of possible incoming charge configurations, PAyspace`s agents can also help Merchants to customise the best possible sets of rules for their own risk management and fraud prevention.

A testing environment where Merchants can see how functions will behave before they set them on the actual account servers.

Theft of somebody’s property or the acquisition of the right to another’s property by fraud or breach of trust. The person who does this is called a fraudster.

Normally the final step in receiving payment for goods or services, the Acquirer or Acquiring Bank receives the payment, after which funds are made available to the Merchant’s account.

A software module that allows visitors of a site to select items towards a purchase that are retained in a cache file until checkout.

An initiative that proposes to make payments across countries within the Euro zone as simple as payments within one’s own country.

An automated system based on rules criteria of sending payments to the facility that is most likely to authorize the specific transaction.

A model of software use as opposed to ownership; individuals use the latest technologies by paying for subscriptions to them rather than buying a single version that will have to be updated and may require expensive patches or constant virus protection.

Named for the Society for Worldwide Interbank Financial Telecommunication that issues the identification numbers, the code provides an internationally standardized structure of 8 or 11 characters that quickly identifies not only the institution but their exact location, such as a branch office number, for payment and identification purposes.


EU directive aimed at increasing competition in the market of payment services and harmonization of legislation on consumer protection and the rights and obligations of payment service providers and their users.

Through a process that replaces certain data in a Merchant account, such as customers’ credit card numbers, with keys that call up that data from a separate database, Payspace protects Merchants from hackers and attacks on outdated software that are more likely when Merchants store all of their information in one database on their own servers.

Technically, an event or activity that can be assigned a monetary value which causes a change in one’s net worth, including a sale to a customer or reporting depreciation of office equipment.

The system of money used to perform the Transaction, whether USD, AUD, euro, British pound, etc.

The date on which the Transaction actually occurs, useful in tracking and sorting Transactions.
Costs incurred by the Merchant on a per-Transaction basis

Assigned to each individual Transaction that enters the Payments Gateway, this code can be used to search for a Transaction through its life process

Assuming liability for an applicant’s account, thereby guaranteeing payment in the event of loss or damage.

With Payspace, customers can store personalized credit and debit card information securely in their online user pages, allowing one-click payments for returning customers with no risk or stolen data from the Merchant’s collection or storage practices.


A supplier of goods and services under its own brand. Vendor – a company that produces, supplies products under its own popular brand.

A secondary security layer provided by Visa that allows Merchants to verify cardholders’ identities and flag risk factors while increasing the safety of Transactions for their Visa customers.

Typically available as an add-on benefit for existing card customers, this payment method is only good for a limited time or a number of purchases and, due to having no electronic stripe or chip, can only be used for Transactions that could be completed as Card Not Present, such as MOTO or telephone purchases.

The equivalent of a POS machine, a Virtual Terminal hosted online can be accessed by anyone with an internet connection and can allow instant direct payment acceptance, working like a “check out from anywhere” terminal.

A Transaction in which no money has yet exchanged accounts can be canceled. Most often used in batch payment processes or CP processes due to data entry errors, Void Transactions do not require refunds, only appropriate accounting.


A product or service created, tested, and sold by one company in order to be bought and branded by other companies who sell it under their own name. White Label Solutions can provide a more fully tested base product while allowing individual Merchants to customize in other ways, like supplying analytics or additional support, reporting, or use services.

The ability to take money out of an account that has been deposited into it. If the funds were due to a sales Transaction, this cannot occur until after the Settlement. Other fees or agreements with the Acquirer or Acquiring Bank, such as Rolling Reserves, may be assessed before funds are released.