EPOS – electronic systems speed up payment processes EPOS is the abbreviation for Electronic Point of Sale. Through EPOS, one can handle cashless payment for products or services using a debit or credit card. The term EPOS denotes both electronic checkout system for retail business as well as online businesses. EPOS in retail Electronic checkout […]

Setup fee – one-time payment to setup an online payment system The set-up fee is charged only once when an online store or website operator uses the services of the payment provider, offering potential customers various payment options such as credit card, invoice, PayPal, GiroPay or Sofort. Once the online merchant has decided on one […]

Creditor Identification Number SEPA and the Creditor ID The Creditor Identifier or CI or UCI is part of the direct debit procedure. The Creditor Identifier or CI or UCI is part of the direct debit procedure. The Wikipedia states: “The Creditor Identifier is a mandatory feature for the account-independent, unique identification of the creditor of […]

Fast payment through Electronic Cash (E-Cash) The “Electronic Cash” payment system, also known as e-cash, is a debit card system for cashless payments. It is operated by the German Banking Industry (DK), the representative body of the leading banking associations. Cards bearing the “Electronic Cash” logo are issued by credit institutions. E-cash is a PIN-based […]

Camt Messages “Camt” stands for “cash management message”. It refers to an XML-based format used for message exchange between banks and customers. Until now, the SWIFT MT 940 and MT 942 bank statement formats serve as the basis for transmitting bank statement information to customers. However, these formats are not sufficient to represent XML-based information […]

Capture When a credit card payment is made – a pre-authorization or reservation is carried out. Capture refers to the point in time where the credit card is finally charged, and the amount is debited. The end customer doesn’t have to expect to be charged until this time, even if the credit card information is […]

Blacklist protects against payment defaults A blacklist is a list or database containing the names, bank details and other information of certain customers who have gained negative attention. In most cases, these individuals have a history of repeated non-payment and are therefore blacklisted as “bad” customers. Internal blacklist A blacklist can be maintained internally by […]

Content Goods Content goods generally include a wide variety of intangible assets. In most cases, these are digital content. This can include text, images, apps and videos, as well as video games and computer software. These are referred to as content goods if they can be ordered directly via the Internet and then downloaded or […]

Chargeback Rate The chargeback rate refers to the proportion of chargebacked credit card transactions following an objection by the cardholder. A chargeback is always possible if the cardholder believes that a certain amount was improperly charged to his or her credit card account. In this case, he or she has the amount charged back and […]

Dialers provide access to paid content on the Internet A dialer is a software that establishes a paid data connection to the Internet. These dial-up programs gained negative feedback in the past because it was difficult for most Internet users to recognize that they were installing a dialer that may end up in exorbitant connection […]

Deposit in the financial industry In common terms, deposit means the safekeeping of a certain sum of money in a financial institution. The finance and business sector define deposit as a fixed amount of money deposited against payment of interest. When the first deposit is made, the general conditions are recorded in writing. These refer […]

Debit cards Debit cards are a type of credit card where there is no monthly settlement with the checking account. All payments are debited directly. Debit cards thus enable secure participation in cashless payment transactions and convenient cash withdrawals from ATMs. When a payment is made or cash is withdrawn, the respective account is “debited,” […]