iGaming Payment Processor & Crypto Gateway
Payment gateway is a third-party between merchants and customers that securely take the money from customers and send it to merchant’s bank account. It is a virtual equivalent of a physical point-of-sale terminal that located in most of retail outlets. Payment gateway performs the important role in processing and authorizing the payment or transactions between customer and merchants. As for crypto payment gateway enables merchants to use Bitcoin and altcoins for their business and also to accept payments in traditional currencies such as USD, Euro, etc. The bitcoin payment service instantly converts the received bitcoins into the currency of your choice, eliminating the volatility risk. The money gets added to your account, and it finally gets credited to your designated bank account at the decided frequency once the accumulated account crosses the threshold limit.
There are currently 12 names in this directory beginning with the letter A.
Account Takeover
As EMV is implemented worldwide, fraudsters are finding credit card fraud more difficult, so many are moving on to the more lucrative account takeover. In this version of identity theft, a fraudster gains unauthorized access to a customer’s account (ranging from banking and brokerage accounts to social media and store loyalty accounts), often through a data breach, malware or phishing. The fraudster then updates the account’s contact information so the victim no longer has control over the account. Often, the victim is unaware their account has been compromised.
Acquiring Bank / Acquirer
This is a bank or financial organization that carries out the whole range of operations to interact with bank card service points, which consists of terminals in the trade and service network and ATMs. Upon receipt of data on operations performed in the network, the acquirer sends them to the system for making appropriate calculations. The acquirer is responsible for refunds to merchants where purchases were made or services were paid for using cards.
AGENT
Any third party acting on behalf of a bank, a financial institution or a non-bank institution (including an E-Money issuer or other payment services provider) to deal directly with customers, under contractual agreement. The term “agent” is commonly used even if a principal agent relationship does not exist under the regulatory framework in place.
AI (Artificial Intelligence / Advanced Machine Learning)
Artificial intelligence (AI) is everywhere these days, from chatbots to Amazon’s bi You Might Like” customer suggestion list. It was one of the top 10 strategic technology trends in 2016 according to Gartner, and few areas have leveraged it as fully as the fraud management industry. It lets even small businesses keep pace with the volume of transactional data coming and benefit from increased sales, reduced fraud and an improved customer experience.
Approval
This is a confirmation, a code sent by the issuing bank to confirm that the buyer's plastic card exists, is usable and the requested amount is within the allowed limit. Confirmation is requested during the authorization operation.
Arbitration
Arbitration occurs when an unbiased third party resolves a dispute between two parties outside litigation by hearing their evidence and testimony and making a ruling.
ASV (Approved Scanning Vendor)
Company approved by the PCI Security Standards Council to conduct external vulnerability scanning services to identify common weaknesses in system configuration.
ATM (Automated Teller Machine)
This is a device designed to receive cash using a plastic / smart card.
Authentication
Method for verifying the identity of a person, device, or process attempting to access a computer. To confirm the identity/user is valid, one or more of the following is provided: (1) A password or passphrase (something the user knows); (2) A token, smart card, or digital certificate unique to the user (something the user has); (3) A biometric identifier, such as a fingerprint (something the user is or does
Authorization
In a payment card transaction, authorization occurs when a merchant receives transaction approval after the acquirer validates the transaction with the issuer/processor.
Authorization Code
A code, consisting of letters and numbers, sent by the issuing bank (Card Issuer), confirming the authorization. The authorization code must be included in the Sales Draft issued by the seller.
AVS (Address Verification System)
Address verification system (AVS) is a fraud filter many merchants use to prevent potentially fraudulent orders from processing. The system checks to ensure that the numerical portions of billing and shipping addresses a customer enters match those on file with the card-issuing bank; if they don’t, the transaction may be either automatically declined or flagged for manual review.