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Understanding Payment Processing Terminology Glossary for Merchants

PayHawk

Approval Code A code provided by the payment processor to indicate that a transaction has been approved. BIN Sponsorship A service provided by payment processors that enables merchants to accept payment cards from multiple card issuers. Batch A group of transactions that are processed together at the end of a business day.

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What The Launch Of Facebook’s Libra Means For Payments

PYMNTS

Calibra data, in the aggregate, will be used by Facebook to comply with AML and other regulatory requirements. That leaves one use case: microtransactions. With the user’s permission, Calibra, will allow consumers to import or export their data to third parties, including their social network contacts from Facebook.