Categories: Payment glossary
CVV code and CVC code are card verification numbers on credit cards / CVC / CVV code: (CVV2 / CVC2) CVV means Card Verification Value, also known as CVC (Card Verification Code), CVC-2 or CVV-2. The CVV code corresponds to an additional three- or four-digit combination of numbers that are printed (not imprinted) on the […]
Checkout In e-commerce, the checkout is the completion of an order. Once a customer has filled his shopping cart, he must still enter personal data and select options for payment processing and shipping before he can click the button for the binding purchase. However, experience shows that ordering processes are often aborted at this point. […]
Chargeback Fee A chargeback fee may apply if a so-called chargeback has been made by the cardholder. A chargeback is a reversal of a credit card transaction when the cardholder cancels the payment with his credit card issuing bank (issuer bank). Chargeback basically serves to protect the cardholder from abuse and fraud. However, chargebacks always […]
Payment Methods Payment methods in e-commerce are many and varied. As a rule, operators of online stores, for example, implement quite different payment methods in order to offer their customers as diverse a choice as possible. When ordering goods, customers are given the opportunity to choose the payment method that suits them best. For the […]
Fraud Prevention When it comes to e-payment, every online merchant must protect himself against fraud and data misuse. This can be achieved by fraud prevention for e-commerce payments, also known as fraud prevention, or real-time risk management during the online ordering process. For this purpose, a store operator or e-business entrepreneur can make use of […]
Description Affiliate System and Partner Program / Affiliate Affiliate systems are internet-based sales solutions, where usually a company/merchant compensates its sales partner with a commission. On the Internet, such an affiliate program often means that a webmaster places affiliate advertising on his highly visited site. If a click on the ad results in a contract, […]
Definition of the term acquirer or acquirer bank / acquirer If an online merchant in e-commerce wants to offer credit card payments for his customers in the store, he needs a so-called acquirer or an acquirer bank. The acquirer settles the purchase amount with the customer via the customer’s credit card, which the customer / […]
Subscription management: automated payments for digital goods Subscriptions describe a regular receipt of goods in return for a recurring, time-based fee. In today’s society, however, subscription models are not limited to tangible goods such as daily newspapers, but are also used in e-commerce. Online retailers whose business models include subscriptions are potential users of subscription […]
3D-secure With the 3D-Secure procedure, the cardholder must register with his card-issuing bank. This serves as additional protection against credit card misuse and for clear identification of the legitimate cardholder. The 3D Secure procedure is implemented in different ways. Mastercard SecureCode, for example, provides verification of the cardholder by means of an additional security code […]
Payment Systems There are diverse segments of customers, each with their preferred payment option. It is therefore not surprising that online store operators implement different payment systems. The most common payment systems include invoice, pre-payment or cash on delivery. Likewise, purchases based on direct debit or through credit card are common in e-commerce. However, pure […]
Master Merchant Master Merchant contracts help online merchants who do not receive a credit card acceptance contract. Companies with a Master Merchant contract enter into subcontracts with smaller online stores, Internet service providers or other individuals who are not normally accepted as merchants by credit card companies, enabling them to implement debit and credit card […]
M-Payment M-payment is short for mobile payment. It refers to the payment of goods and services via a cell phone. It is possible for two private individuals to exchange money with each other via m-payment (person-to-person, P2P) or, for example, to pay in a store or over the Internet using a cell phone. Low acceptance […]