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 13 names in this directory beginning with the letter M.
M-MONEY / MOBILE MONEY
A type of electronic money (E-Money) that is transferred electronically using mobile networks and SIM-enabled devices, primarily mobile phones. The issuer of mobile money may, depending on local law and the business model, be an MNO, a financial institution or another licensed third-party provider.
Machine Learning
Some computer systems have the ability to “learn,” or make progressive improvements on a task based on algorithms and human input. This machine learning is frequently used with fraud software, allowing fraud prevention programs to make fast transactional decisions while minimizing risk exposure. As machine learning systems find fraud patterns in purchase data, and as they assimilate new data, they can make increasingly accurate predictions and become quite effective at flagging fraud. Yet they can’t work alone. These machines still rely on current data and analysts’ insights to make wellinformed decisions.
Manual Entry / Keyed Entry
Operation of manual input of card parameters from a computer keyboard or POS-terminal.
Merchant
Merchant represents a customer (tenant) within the gateway. Serves as a logical grouping of data and configuration settings.
Merchant Account
A merchant account is a holding account for receipt of credit and debit card transactions, prior to being transferred to your company accounts. Having a merchant account is essential to receive online payments, and must be set up through your payment provider. Once cleared, the funds will be transferred to your company account.
Merchant Bank / Acquirer / Acquiring Bank / Card Processor
A bank or financial institution that processes credit and/or debit card payments on behalf of merchants.
Merchant Category Code / Sic Code
This code, usually consisting of four digits and assigned by the acquiring bank to the merchant, reflects the main activity of the merchant.
Merchant Statement
Merchant statement is a summary of merchant’s activity over a certain period of time. It provides the information about a number of the processed transactions, splits, fees and charges collected and adjustments applied. Merchant statements can be of two types: (1) Deposit statement - a type of merchant statement that accompanies and explains remittances associated with all of the merchant’s transactions processed on a given business day. Deposit statement helps the merchant to understand the deposits in its bank account that result from transaction processing; (2) Reconciliation statement - a summary statement that explains merchant’s remittance activity and shows all of the associated processing fees over a defined time period, usually a month. Reconciliation statement helps a merchant to understand what merchant fees are charged and why.
MNO (MOBILE NETWORK OPERATOR)
A company that has a government-issued license to provide telecommunications services through mobile devices. An MNO is also known as a telco. Due to their experience with high-volume, low-value transactions and large networks of airtime distributors, MNOs have been critical players in digital financial services.
Mobile Payment Acceptance
Using a mobile device to accept and process payment transactions. The mobile device is usually paired with a commercially available card-reader accessory.
Multi-factor Authentication
Method of authenticating a user when two or more factors are verified. These factors include something the user has (such as a smart card or dongle), something the user knows (such as a password, passphrase, or PIN) or something the user is or does (such as fingerprints, other forms of biometrics, etc.)