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 30 names in this directory beginning with the letter C.
Card Data / Customer Card Data
At a minimum, card data includes the primary account number (PAN), and may also include cardholder name and expiration date. The PAN is visible on the front of the card and encoded into the card’s magnetic stripe and/or the embedded chip. Also referred to as cardholder data.
Card-Not-Present Fraud / CNP Fraud
A card-not-present (CNP) transaction happens when a customer makes a purchase by mail, by phone or online, where the customer is not physically present to show the credit card at the time of purchase. This payment method is convenient for customers and essential to online retailers — but it’s also vulnerable to fraud. Cybercriminals steal credit card information — often by skimming or purchasing data on the dark web — and then use this information to make fraudulent purchases. These fraudsters often purchase high-value items, like electronics, to get the most “bang for their buck” before a cardholder realizes their account has been compromised. The merchant is generally liable for the losses associated with CNP fraud, which includes loss of product, shipping expenses, fees and penalties, and damage to reputation.
Cardboard/ Potatoes
Data of a real-life credit card somewhere, which are used by the carder, as a rule, only for transactions via the Internet;
Carders
Professional criminals specializing in illegal activities in the field of circulation of plastic cards and their electronic details.
CASH AGENT
A type of agent that only provides cash-in and cash-out services. Due to their limited functions in a digital payment model, cash agents are usually viewed as less risky and are therefore subject to less stringent regulations than regular agents that perform account opening and loan processing.
Cash Market
A marketplace in which the iGaming products or services are paid for and received at the point of sale.
CASH-IN
The process by which a customer exchanges cash for electronic value. Cash-in transactions are usually a credit to the customer’s E-Money account.
CASH-OUT / Pour
The process by which a customer exchanges electronic value for cash. Cash-in transactions are usually a deduction from a customer’s E-Money account.
Cashless
Relying largely or entirely on monetary transactions that use electronic means rather than cash. In cashless transactions, payments are made or accepted without the use of hard cash.
Cashless Payment
In cashless transactions, payments are made or accepted without the use of hard cash. Cashless payments are digital methods for exchanging financial transactions between two parties.
Cashless Society
A cashless society describes an economic state whereby financial transactions are not conducted with money in the form of physical banknotes or coins, but rather through the transfer of digital information between the transacting parties.
Chargeback
When a cardholder identifies a questionable transaction on a credit card statement, the cardholder can file a complaint with the credit card issuer. If the issuer determines the cardholder isn’t responsible for the payment (e.g., if the card has been stolen, or if the goods were never received), the issuer will refund the original transaction amount back to the cardholder. The issuer will then reverse any payment previously made to the merchant and charge the merchant an additional fee.
Chargeback Fees
When a customer opens a chargeback dispute, most acquiring banks immediately return the transaction amount to the customer while the dispute is researched. The bank will also automatically deduct chargeback fees from the merchant’s account.
Chargeback Fraud
While chargebacks were established to protect customers against the losses that arise due to both identity theft and unfair merchant practices, customers are increasingly taking advantage of the loophole that automatically favors customers during a credit card dispute. In these scenarios, the customer files a chargeback on a legitimate transaction so they can keep the product and receive a full refund on the original purchase.
Chargeback Insurance
For merchants who accept credit cards, chargeback insurance provides a 100% guarantee that protects the merchant in the event the fraud solution partner approves a transaction that turns out to be fraudulent and results in a chargebacks. Should this happen, the fraud partner pays the entire cost of the chargeback.
Chargeback Protection
Chargeback protection generally covers a portion of the losses a business might incur due to fraudulent transactions. Although chargeback protection works to limit fraud losses, it won’t reimburse merchants fully for chargebacks that happen. Instead, merchants receive invoice discounts based on pre-determined KPIs that aren’t met. Chargeback protection can vary greatly by vendor. Some vendors don’t cover against any losses, leaving merchants responsible for any and all chargebacks and penalties, and instead simply offer tools to help monitor transactions and identify fraud.
Chargeback Ratio
A merchant’s chargeback ratio is the number of chargebacks compared to overall transactions for a given month. As the number of chargebacks against a retailer rises, so does the ratio. It’s important to note that each card issuer calculates this ratio slightly differently. Visa, for instance, divides the current month’s number of chargebacks by the current month’s number of transactions.
Chargeback Reason Code
Chargeback Reason Code is a two-digit number that encodes the reason for the payment return.
Chip / EMV Chip
The microprocessor (or “chip”) on a payment card used when processing transactions in accordance with the international specifications for EMV transactions.
Chip & Signature / Chip & PIN
A verification process where a consumer uses their signature with an EMV Chip-enabled payment terminal when they made deposit or request for withdrawal.
Commerce Server
This is an Internet server connected to a payment processor, which has everything you need to accept payments: software that stores information about all purchases and the total price, a database, etc. Commerce Server usually allows you to establish a connection over one of the secure protocols such as SSL.
Confirmation Letter
This is an e-mail sent to the merchant by the payment processor containing information about the Batch files submitted to the processor.
Credit
Transaction that represents the decrease in customer’s debt in case of cancellation of transaction, applied bonuses, etc.
Credit Bureau
Agencies that collect and sell data related to an individual’s creditworthiness is called a credit bureau. While they have no direct say in whether a person is extended credit, credit bureaus collect valuable information that lets creditors decide how creditworthy an individual is.
Credit Card Fraud
Credit card fraud refers to theft in which a credit or debit card is used to pay for a transaction, with the intention to keep the goods and services without paying for them. Types of credit card fraud include identity theft, identity assumption and fraud sprees. Fraudsters may obtain a victim’s credit card data by buying the information on the deep web, by using skimmers at gas station pumps, or through corporate data breaches.
Customer
An individual who purchases a subscription to a merchant’s goods/services and pays for them either through the gateway or through an external system (for example, a terminal not integrated with the gateway), in cash/by check.
Customer Account
A record that holds critical data about the customer (a person or an organization) including basic demographic/contact information and activity-related information (such as current balance, letter flags, etc).
Customer Balance
Resulting of all customer transactions that represent the actual amount of debt of a customer or a merchant. A positive (outstanding) balance represents the amount due on the customer´s next invoice. A negative balance means that the merchant owes money to the customer (can be the ground for a refund).
Customer Transaction
A record representing the movement of money on the customer´s account that results either in the increase (revenue transaction) or decrease (asset transaction) in customer’s debt.
CVV (Card Verification Values)
There are three- to four-digit numbers either on the back or front of credit cards that can help reduce the risk of credit card fraud. These numbers are printed on the card, rather than embossed or stored in the magnetic strip. As a result, requiring these numbers can minimize card-not-present fraud, since fraudsters will generally need to have the card in hand to have this information. Requiring a CVV for every purchase can add another layer of security to online transactions. If the number provided by the customer matches what the bank has on file, the transaction can be safely processed. Some credit card issuers will even provide one-time-use CVVs for online purchases, further increasing the security of transactions.