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 26 names in this directory beginning with the letter P.
P2B (Person to business payment)
P2B payments include payments for the purchase of goods and services.
P2PE (Point-to-Point Encryption)
The PCI Security Standards Council established P2PE standards improve the security of credit card transactions. During the P2PE process, transactional data is securely encrypted at the merchant’s point-of-sale entry and continues until the final credit card processing point.
Payment
Transfer of funds from the customer to the merchant that covers debts represented by invoices. The result of a payment transaction is obtained in real-time and is final.
Payment Application
Related to PA-DSS, a software application that stores, processes, or transmits cardholder data as part of authorization or settlement of payment transactions.
Payment Application Vendor
Vendor that sells applications that store, process, and/or transmit card data during payment transactions.
Payment Card Industry (PCI) Compliance
PCI is a set of requirements to ensure you protect your customers’ credit card information when stored, processed, or transmitted.
Payment Facilitator
Payment facilitator is a commercial service provider that simplifies the process of registration and connecting Merchant who want to accept online payments. A Merchant does not need his/her own Merchant account but is connected to its account by the Payment Facilitator, which simplifies the connection procedures from months to days.
Payment Fraud
Payment fraud refers to any fraudulent transaction a criminal executes that results in stealing a victim’s money, property or sensitive data. While traditional fraud prevention controls used to be enough to prevent payment fraud, fraudsters now engage in subtle behaviors to trick unsuspecting customers to release personal information.
Payment Middleware
A general term for software that connects two or more, perhaps unrelated, payment applications together. For example, it may pass card data between an application on a payment terminal and other merchant systems that send card data to a processor.
Payment Processor
The payment processor service ensures that a credit card has sufficient funds for payment. When this occurs, the funds are then authorised to be transferred to the merchant account. It updates the system status and transmits it back through the payment gateway to your website. Often the gateway and processor services are indistinguishable and are referred to as a single service.
PAYMENT SERVICES / Payment System
This is the term used by payment providers to describe different payment gateway options. These options will often have different capabilities and pricing structures.
Payment System Vendor
A vendor who sells, licenses, or distributes a complete payment solution to a merchant. The solution encompasses the hardware and software needed to handle payments within the store and provides a method to connect to a payment processor.
PCI-DSS (Payment Card Industry Data Security Standard)
The PCI-DSS (Payment Card Industry Data Security Standard) is a security standard for international payment systems (MasterCard and Visa). It provides a framework for the proper protection of card operation users. All organizations that process, transfer or store card data must meet the requirements of the PCI-DSS.
Permission
Permission represents the ability to perform a particular action within the system on the lower level. A user with a particular permission can perform the corresponding action (e.g. view or modify the elements of the system or access different forms and do different actions within these forms). Permissions are associated with the security roles, allowing to control the access level of a particular user. They are also assigned to various elements of the user interface, defining what permissions will be nessesary for a user to have access to the forms and be able to execute the actions on the user interface or within the API.
Pharming
A common scam by fraudsters is “pharming” attacks, which are similar in nature to “phishing” attacks, with one important difference: Phishing attacks require victims to click on a link to take them to the fraudulent website, whereas pharming attacks automatically install malicious code on a computer and misdirect users to fraudulent websites. Because this code requires neither consent nor knowledge to execute, many victims don’t even realize they’ve been targeted. Pharming attacks are increasing, in part because fraudsters are looking for new ways to collect sensitive personal data from Internet users who are learning how to avoid phishing attacks.
Phishing
A form of social engineering and identity theft, phishing scams try to trick individuals into revealing personal information. Fraudsters typically contact victims by text, email or phone, posing as an authority figure or a seemingly legitimate company to get the victim’s confidential data. Phishers may also install malicious software on computers, infect computers with viruses or even steal personal information off of computers.
PIN (Personal Identification Number)
A unique number known only to the user and a system to authenticate the user to the system. Typical PINs are used for automated teller machines for cash advance transactions, or for EMV chip cards to replace a cardholder’s signature. PINs help determine whether a cardholder is authorized to use the card and to prevent its unauthorized use if the card is stolen.
Privileges
Privilege represents the ability to access a particular API or gateway user interface. There are seven privileges that can be granted to the users in the gateway.
Processing Cutoff Time
The point of time when the realtime and batch transaction cycles are closed. This parameter is essential when the remittance is done by the gateway. Transactions settled in this time (in case of terminal capture) or by this time (in case of host capture) are included in the merchant statement on the same day and deposited to a merchant service provider. Processing cutoff time must be earlier than settlement cutoff time to ensure that all transactions processed in the gateway during the day are included in one settlement cycle.
Provider Account
Subset of settings within a Provider Profile responsible for connectivity and secure communication with a Provider. These include URLs, login credentials, encryption keys, etc.
PSP (PAYMENT SERVICES PROVIDER / Payment Provider)
An entity that provides services enabling funds to be deposited and withdrawn from an account; payment transactions involving transfers of funds; the issuance and/or acquisition of payment instruments such as checks, E-Money, credit cards and debit cards; and remittances and other services central to the transfer of funds. Payment services providers include banks and other deposit-taking institutions, as well as specialized entities such as money transfer operators and E-Money issuers.