Account Name Inquiry (ANI) is a process of verification that the name a cardholder provides matches the name held by the issuing bank.
An Account Updater integrates directly with card networks to deliver the most up-to-date card-on-file information. An Account Updater can continuously update multiple cards or in real-time on a selected card. Essentially, it keeps your card-on-file data current to increase authorization rates and reduce failed transactions.
Learn MoreAccount validation is the process of verifying the accuracy, authenticity, and ownership of user-submitted financial information. This crucial step helps businesses confirm that the account details, especially bank account numbers, are legitimate and suitable for financial transactions.
An acquirer, also known as a merchant acquirer or acquiring bank, is a financial institution that processes and settles credit card and debit card payments on behalf of merchants. The acquirer facilitates the transfer of funds from cardholders to businesses, ensuring secure and timely payment processing for merchant transactions. By acting as the intermediary between the merchant, card networks, and issuing banks, the acquirer plays a critical role in the payment ecosystem.
An acquirer processor is a third-party service provider or financial institution responsible for managing and processing payment transactions on behalf of merchants. They facilitate the authorization, clearing, and settlement of credit card and debit card payments by acting as an intermediary between merchants, acquiring banks, and card networks (like Visa and Mastercard). Acquirer processors ensure secure and efficient payment processing, helping merchants receive payments from customers and manage transaction data. They also provide fraud detection, chargeback management, and integration services to optimize the payment process for merchants.
Address Verification Service (AVS) is a process used to authenticate that the billing address provided by the customer matches the address on file with the bank.
Agentic commerce refers to AI agents acting on behalf of an individual (usually a consumer) to make a purchase online. In agentic commerce, agents generally use conversational AI models to help consumers make purchasing decisions and ultimately complete a purchase on their behalf based on a set of consumer-defined parameters. For consumers, agentic commerce aims to enhance the overall buying user experience, similar to a personal assistant, who is authorized to make purchases on behalf of consumers autonomously, enhancing the buying experience by removing purchasing friction. For merchants, agentic commerce has the potential to increase sales and accelerate product discovery & cross-sell opportunities.
An agentic payment refers to a payment initiated and executed autonomously by an AI agent, often without direct human intervention at the point of checkout online. In agentic payments, the agent is authorized to execute the transaction.
In agentic commerce, AI agents are autonomous software entities that proactively manage and execute various aspects of the e-commerce experience, such as researching and making a purchase. Unlike traditional AI tools that require specific prompts or human oversight, these agents can operate with a high degree of independence, making decisions and taking actions to fulfill user needs and business objectives.
AI commerce tools are advanced software applications powered by artificial intelligence that help businesses automate and optimize critical aspects of online commerce. These tools streamline e-commerce operations, enhance customer service experiences, and improve digital marketing strategies through machine learning, data analytics, and intelligent automation.
AI-driven commerce leverages the power of artificial intelligence (AI) technologies to personalize, automate, and optimize various aspects of the online buying and selling process. AI-driven commerce creates a dynamic and intelligent shopping environment achieved through the application of machine learning, natural language processing (NLP), computer vision, and other AI techniques across a multitude of touchpoints.
Apple Pay is a mobile payment and digital wallet service developed by Apple Inc. that allows users to make secure, contactless payments using their Apple devices, such as the iPhone, Apple Watch, iPad, or Mac. These payments can be made in-stores, apps, and online. It replaces physical cards and cash with a safer, faster, and more private way to pay.
A $0 authorization verifies a card's validity without charging the cardholder by sending a non-financial request through the payment network to the issuer.
Autopay is short for automatic payment. Autopay is a payment feature that allows businesses or individuals to automatically withdraw funds from a customer’s bank account, credit card, or debit card on a recurring schedule to pay bills, subscriptions, or invoices.
Rather than requiring the customer to log in and manually pay each time, autopay ensures that payments are made on time automatically.
BIN (Bank Identification Number), of bank identification number, is set of numbers on a payment card that identifies the card's issuing bank or financial institution.
BIN lookup is a tool that extracts critical information from a card number by analyzing the first four to eight digits. BIN lookup can be used for BIN mapping logic for fraud prevention, loyalty offers, routing decisions to increase auth rates, risk management, and more.
Learn MoreBIN (Bank Identification Number) sponsorship enables businesses, particularly fintechs, to issue payment cards or process card payments without requiring direct membership in card schemes such as Visa or Mastercard. By leveraging a licensed financial institution's BIN and its associated regulatory permissions, fintech companies can access the payment network, ensuring compliance and enabling secure transaction processing.
Buy now, pay later or BNPL refers to the act of allowing a customer or vendor to pay for a service or good over installments.
Card art is artwork that is displyed on a physical or digital payment card.
Card attributes refer to the specific fields and labels that define a payment card. While "card attributes" are often associated with BIN lookup (Bank Identification Number), these attributes can extend beyond just the BIN. In fact, card attributes can be identified using more than just the BIN, including account ranges and even the full PAN (Primary Account Number), providing more accurate and detailed information. By utilizing a full range of card attributes, businesses and financial institutions can enhance their payment systems, optimize fraud prevention, and ensure accurate card data analysis.
Learn MoreCard category refers to the classification of payment cards based on certain features or use cases.
Card issuance is the process of issuing payment cards, such as debit, credit, or prepaid cards, to customers.
Learn MoreA card management platform manages card data and network services in one location through a single API integration.
Learn MoreCard Network refers to a financial services company that facilitates electronic payments between cardholders, merchants, and banks. Major card networks include Visa, Mastercard, American Express, and Discover. These networks manage transaction routing, authorization, settlement, and security standards, enabling credit, debit, and prepaid card payments worldwide. A card network earns revenue from transaction fees and plays a key role in ensuring secure and efficient payment processing.
Card on file (COF) network tokens are network-generated digital identifiers that replace a cardholder's sensitive Primary Account Number (PAN) when a customer saves their card details with an online merchant for future purchases or recurring payments.
Card type refers to the type of card used in a transaction such as a credit card, debit card, or prepaid card.
Card Verification Value (CVV) is a three- or four-digit security code printed on credit and debit cards, used to help verify that the person making a purchase has the physical card in hand. Found on the back of Visa, Mastercard, and Discover cards (or on the front of American Express cards), the CVV adds an extra layer of protection for online, phone, and mail-order transactions, helping to prevent credit card fraud and unauthorized use.
A card that is issued by a bank, service, or business that allows the cardholder to purchase items on credit to a certain limit.
Payments or financial exhanges that take place between two parties in different countries. Funds are transferred from an institution in one country to another institution in a different country.
A Customer-Initiated Transaction, or CIT, refers to any financial or business transaction that is initiated by the customer rather than the business or service provider. This includes actions such as making a purchase, requesting a refund, subscribing to a service, or transferring funds.
CVV2 validation checks the card's security code during a transaction to confirm the card is in the customer's possession and prevent unauthorized use.
A debit card is a payment card that allows the spending of money from a checking account. It is issued by a bank.
A digital wallet refers to a mobile app that stores payment information for cards and bank accounts that is associated with a device. An example would be Apple Pay or Google Pay.
DPAN (Device Primary Account Number) is a unique device-specific payment token that replaces the card number when using digital wallets like Apple Pay or GooglePay.
Learn MoreEcomm network tokens are digital identifiers issued by card networks (like Visa, Mastercard, American Express, Discover) that replace a cardholder's sensitive Primary Account Number (PAN) and other card details for online (e-commerce) transactions. Instead of the actual 16-digit card number, a unique, randomly generated sequence of unique characters (the token) is used to process the payment. Ecomm network tokens are a crucial technology for enhancing the security, efficiency, and user experience of online payments. They represent a significant step forward in protecting sensitive payment information and streamlining the e-commerce transaction process for both merchants and consumers.
Encryption is a cybersecurity process that converts data into a secret code to protect it from unauthorized access. Using mathematical algorithms and encryption keys, encryption scrambles readable information (plaintext) into unreadable text (ciphertext), ensuring privacy and security during storage or transmission. Only those with the correct decryption key can unlock and read the original data.
An endpoint refers to a specific URL or point of contact within a payment API or payment system. It facilitates various actions, such as initiating payments, receiving payment status updates, or managing payment methods. Endpoints are integral to enabling seamless communication between different systems in payment processing and ensuring efficient transaction management.
Funding PAN, a 12- to 19-digit number that appears on a credit, debit or prepaid card.
Google Pay is a digital wallet and online payment platform developed by Google that allows users to make secure, contactless payments using Android devices (smartphones, tablets, watches), in-person, on websites, and in apps. It enables users to store credit/debit cards, loyalty cards, transit passes, and more for fast and convenient checkout for both in-person and online transactions.
A financial institution, such as a bank, that that issues and manages payment cards including credit and/or debit cards. An issuer is commonly referred to as an issuing bank or card issuer.
An issuing bank is a financial institution, such as a bank or credit union, that provides credit cards, debit cards, or prepaid cards to consumers on behalf of a card network like Visa, Mastercard, American Express, or Discover. The issuing bank manages the cardholder’s account, approves or declines transactions, handles billing and payments, and assumes the financial risk if the cardholder cannot pay. In credit card transactions, the issuing bank authorizes purchases and transfers funds to the merchant’s bank, ensuring secure and reliable payment processing.
Credit or debit card was issued by the issuing bank. Issuing countries are often used when discussing cross-border transactions.
An issuer processor is a financial institution or third-party provider responsible for managing and processing the transactions related to credit card and debit card issuers. They handle tasks such as transaction authorization, fraud detection, and managing account data for cardholders. Issuer processors ensure that the cardholder's bank or issuing institution can effectively approve and settle payments made with their issued cards. These processors work with acquirers, card networks (like Visa and Mastercard), and merchants to facilitate secure and seamless payment experiences.
Mastercard Agent Pay is a solution that integrates with agentic AI to deliver smarter, more secure, and more personal payment experiences to consumers, merchants, and issuers. It enhances generative AI conversations for people and businesses alike by integrating seamless payment experiences into the tailored recommendations and insights already provided on AI conversational platforms.
Mastercard Account Validation is a service provided by Mastercard that helps businesses verify the legitimacy and status of a customer’s payment account without initiating a financial transaction. It confirms whether a Mastercard card number is valid, active, and correctly formatted, reducing the risk of fraud and payment declines.
Mastercard Agentic Tokens build upon Mastercard tokenization capabilities that power global commerce solutions like mobile contactless payments, secure card-on-file, and Mastercard Payment Passkeys, as well as programmable payments like recurring expenses and subscriptions. Mastercard Agentic Tokens help to unlock an agentic commerce future where consumers and businesses can transact with trust, security, and control.
A merchant is refers to a business or individual that accepts payments from customers for goods or services.
A merchant of record, or MoR, is the legal entity responsible for selling goods or services to a customer and processing the payment for those sales. Essentially, the merchant of record acts as the official seller for tax and legal purposes, even if another company handles the product or service itself. The merchant of record also often works with payment processors to handle the technical aspects of a transaction, but their role is much broader, encompassing legal, tax, and compliance responsibilities. This is the entity that shows up on a consumer bank account statement.
A Merchant-Initiated Transaction, or MIT, refers to any financial or business transaction that is initiated by the merchant rather than the customer. This occurs when a business or service provider processes a payment or action on behalf of the customer, typically with prior authorization. Examples of merchant-initiated transactions include subscription renewals, recurring billing, refunds, or adjustments to an account.
MPAN (Merchant Primary Account Number) is a unique merchant-specific payment token linked to a user's account (ie. iCloud) that replaces the card number when using digital wallets like Apple Pay or Google Pay.
Learn MoreNetwork tokens are a set of randomized code that act as a substitute for a credit card's primary account number (PAN). Network tokens allow merchants to securely process payments without storing sensitive card details, significantly reducing the risk of fraud and data breaches while increasing security. These tokens are issued and managed by the major card networks themselves, such as Visa, Mastercard, American Express, and Discover.
Learn MoreOpen banking is the practice of sharing financial data with third parties, such as other financial institutions or service providers. It allows consumers to access their financial data and use it across multiple financial services.
Learn MoreOTC, or Original Credit Transaction, is a type of transaction where funds are credited to a cardholder's account, typically for refunds or payouts.
PCI compliance is following the Payment Card Industry Data Security Standard (PCI DSS) to protect cardholder data and prevent fraud. All businesses that process credit cards, regardless of size, must comply with PCI standards. There are four levels of PCI Compliance.
Learn MoreA PAN, or primary account number, is a 12- to 19-digit number that appears on a credit, debit or prepaid card.
Learn MoreA payment gateway is a platform that facilitates secure and encrypted transactions between a merchants and their bank and/or processor.
Learn MoreA payment method refers to the way money was exchanged in a transaction. A payment method can be a credit card, bank account, or digital wallet.
Payment Orchestration is a technology that allows businesses to connect and manage multiple payment service providers (PSPs), such as payment gateways and processors, through a single platform. Instead of directly integrating with each PSP individually, businesses integrate with the orchestration layer.
Learn MoreA payment vault is a platform that securely stores tokenized payment data. A payment vault can descope your liability and insulate your business from risk exposure and compliance overhead by operating on randomized, non-sensitive tokens instead of raw data.
Learn MoreA payout is the process of businesses distributing funds to another party, such as a customer or vendor.
PII stands for personally identifiable information. PII is any information that can identify a person. This includes: names, Social Security numbers (SSNs), dates of birth, and biometric records. PII can also include financial, educational, medical, and employment information.
Learn MoreA prepaid card is a card that is preloaded with funds in order to make purchases.
A PSP is a payment service provider. A payment service provider is a third-party company that allows businesses to accept electronic payments.
Learn MorePush provisioning refers to the process where cardholders can seamlessly add their physical credit or debit card to a digital wallet or merchant app by simply clicking a button in their mobile banking app. This action "pushes" the card's token to a supported platform, enabling users to make secure digital payments. Push provisioning enhances the user experience by simplifying card setup and streamlining payments at supported merchants.
A recurring payment is a transaction that occurs on a regular basis. This includes subscription model payments that commonly reoccur monthly, quarterly, or yearly.
An SDK (Software Development Kit) is a comprehensive toolkit designed to simplify the process of integrating payment processing capabilities into applications and websites. It includes libraries, tools, documentation, and sample code to help developers streamline the integration of payment solutions, enhancing both functionality and user experience. By using an SDK, businesses can seamlessly incorporate secure and efficient payment processing into their digital platforms.
A subscription payment refers to a recuring payment for a service or good. The subscription payment model is typically monthly, quarterly, or yearly.
Tokenization replaces sensitive plaintext data with non-relational tokens, reducing your risk and liability while accelerating data security and privacy compliance frameworks like PCI DSS, GDPR, and more. With Tokenizaton API you can securely store an unlimited number of sensitive data and corresponding tokens.
Learn MoreA token service provider (TSP) is a secure technology company responsible for generating, issuing, and managing payment tokens. These tokens are unique digital identifiers that replace sensitive cardholder data, such as the Primary Account Number (PAN), during transactions.
Learn MoreA token vault is a secure storage system used in payment processing to hold and protect sensitive data, such as credit card numbers, by replacing it with unique tokens. Instead of storing actual payment details, businesses store tokens in the vault, reducing the risk of data breaches and helping with PCI compliance. When needed, the vault maps tokens back to the original data to complete transactions safely. Token vaults are widely used in e-commerce, mobile payments, and digital wallets to enhance payment security and privacy.
A virtual card is a digital payment card that only exists electronically, without a physical counterpart. It functions similarly to a traditional credit or debit card, with a unique card number, expiration date, and CVV (Card Verification Value). Virtual cards are considered secure and convenient digital alternatives to a physical payment card, offering enhanced security and control, particularly for online transactions and business payments.
Visa Intelligent Commerce is an initiative that enables AI to find and buy products. The initiative opens Visa's payment network to developers and service providers who are building the foundational AI agents that are transforming commerce. Visa Intelligence Commerce brings a suite of integrated APIs and a commercial partner program, which includes VGS, to AI platforms, allowing developers to deploy Visa's AI commerce capabilities securely and at scale. Visa Intelligent Commerce offers: AI-ready cards, AI-powered personalization, and simple and secure AI payments.
Learn MoreVisa Payment Account Validation is a service offered by Visa that allows businesses to verify the authenticity and status of a customer’s payment account without processing a financial transaction. This validation checks if a Visa card number is valid, active, and properly formatted, helping merchants reduce fraud, improve transaction success rates, and enhance the customer experience.
Wallet decryption is the process of converting encrypted data, such as network tokens, into readable information. Wallet decryption is used for digital wallet payments.
A wallet payment is a purchase made using a digital wallet, which is an electronic payment method.
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