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100+ Payment Industry Terms Explained in Plain English

Clearly Payments

Payment Network Companies like Visa, Mastercard, Amex, and Discover that move the data between banks. Assessment Fee A fee charged by the card networks (Visa, Mastercard, etc.). MATCH List A blacklist of merchants banned by Visa/Mastercard. Underwriting The process of assessing risk before approving a merchant account.

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Top News In Payments: Indian FinTech ZestMoney Raises $15M; Fed’s Brainard Warns Of Crypto Risks

PYMNTS

ZestMoney aims to fill India’s banking void and help the country’s population build credit. Mastercard on Overcoming AI’s Bias Problem. Bangalore-based FinTech ZestMoney has raised $15 million, led by Goldman Sachs, which it will use to expand strategic relationships. Fed’s Brainard: Stablecoins Pose Risk to Consumers.

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Aurora Payments Launches ARISE, a One-Stop Payment Platform for Small and Medium Businesses

Fintech Finance

Payment-Agnostic: The ARISE Payment Terminal accepts contactless payments via Apple and Android devices, EMV (Visa, Mastercard, American Express and Europay), contactless cards, magnetic stripe cards, chip cards, NFC, and even processes Level II and III transactions. HD display ensures receipts look great and are printed fast.

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Understanding Payment Processing Terminology Glossary for Merchants

PayHawk

EMV Europay, Mastercard, and Visa, a set of global standards for payment card security and authentication. U Underwriting The process of assessing the risk of a merchant account and determining the appropriate fees and processing limits. Void The process of canceling a transaction before it is completed.

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