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Understanding Payment Processing Terminology Glossary for Merchants

PayHawk

Credit Memo A document issued by the merchant to provide a refund or credit to the cardholder. Credit Report A report that details the credit history and creditworthiness of an individual or business. Currency Conversion The process of converting the transaction amount from one currency to another.

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The top 15 spend management software in 2023

Nanonets

The platform accommodates complex business processes such as multi-subsidiaries and purchase orders, bringing efficiency to even the most intricate accounting needs. Features: Workflow management capabilities en Multiple currencies support Automatic management of invoices, Spend control to optimize financial management.