payment services
Money transfer systems
Payment services are systems and businesses that facilitate the transfer of money between parties.
The term covers a broad range: credit card processing, digital wallets, wire transfers, mobile payment apps, and check clearing.
Banks provide payment services, but so do companies like PayPal and Venmo.
The company offers payment services to small businesses.
One who sells wares
- checkoutPayment completion process
- invoiceItemized billing statement
- billingCharging for services rendered
- purchaseGoods obtained for payment
transaction · retail · e-commerce · point-of-sale · acquiring · issuing · chargeback · refund
Electronic payment storage system
- PayPalOnline money transfer platform
- VenmoMobile payment service
- ZelleBank-linked payment app
- Apple PaySmartphone payment system
Google Pay · QR code · NFC · contactless · tap-to-pay · virtual card · tokenization · peer-to-peer
Exchanges of value
- depositPlace for safekeeping
- withdrawalAct of taking away
- transferMove between locations
- remittanceFunds sent elsewhere
clearing · settlement · account · balance · ledger · cheque · savings · loan
Without visible joins
- one-clickPurchase with single action
- instantBriefest unit of time
- 24/7Continuously without pause
- contactlessRequiring no physical touch
frictionless · real-time · automated · streamlined · user-friendly · accessibility · omnichannel · express checkout
Software communication protocols
- PSPSony handheld console
- acquirerOne who obtains possession
- issuerOne who distributes officially
- card networkSystem routing electronic purchases
Visa · Mastercard · American Express · processor · middleware · integration · card reader · magstripe
Converting data into code
- authenticationConfirming genuine identity
- two-factorAuthentication using paired credentials
- biometricsBody-based identity verification
- fraud preventionStopping dishonest financial activity
tokenization · CVV · PIN · risk assessment · identity verification · secure checkout · fraud detection · dispute resolution
merchant
One who sells wares
- checkoutPayment completion process
- invoiceItemized billing statement
- billingCharging for services rendered
purchase · transaction · retail · e-commerce · point-of-sale · acquiring · issuing · chargeback · refund · receipt
e-wallet
Electronic payment storage system
Apple Pay · Google Pay · QR code · NFC · contactless · tap-to-pay · virtual card · tokenization · peer-to-peer · digital currency
transactions
Exchanges of value
- depositPlace for safekeeping
- withdrawalAct of taking away
- transferMove between locations
remittance · clearing · settlement · account · balance · ledger · cheque · savings · loan · overdraft
seamless
Without visible joins
contactless · frictionless · real-time · automated · streamlined · user-friendly · accessibility · omnichannel · express checkout
APIs
Software communication protocols
card network · Visa · Mastercard · American Express · processor · middleware · integration · card reader · magstripe · batch processing
encryption
Converting data into code
- authenticationConfirming genuine identity
- two-factorAuthentication using paired credentials
- biometricsBody-based identity verification
fraud prevention · tokenization · CVV · PIN · risk assessment · identity verification · secure checkout · fraud detection · dispute resolution · liability protection
- business lawbusiness law, commercial law, corporation, commercial code, S corp
- bankingbank, banks, ATM, ATMs, account
- German BankingDeutsche Bank, savings banks, savings bank, private banks, commercial banks
- open bankingdata sharing, data portability, financial data, secure access, real-time data
payment servicescash in hand
Physical currency possessed now
cash payment · cash transactions · coins · paper money · hard currency
payment, service, serve, pays, paying, payer, payers, payable, repayment