Payment Processing Terms and Definitions

Welcome to Swipesum's comprehensive glossary of payment processing terms and definitions. Whether you're a business owner, finance professional, or simply looking to enhance your understanding of the payment landscape, this resource provides clear explanations of key terms related to credit card processing, merchant services, and electronic payments. Navigate through our glossary to gain insights that will empower you to make informed decisions in your payment processing journey.

Merchant Acquirer

A Merchant Acquirer is a financial institution that processes card transactions, managing the transfer of funds between merchants and cardholders. Swipesum assists businesses in finding top-tier acquirers, enhancing transaction efficiency and security for better business outcomes.

Merchant Services Provider

A Merchant Services Provider (MSP) offers the tools and support for businesses to process card payments, along with added services like fraud prevention and POS integration. Swipesum connects businesses with customized MSP solutions, optimizing payment processing and reducing costs.

Merchant Account Provider

A Merchant Account Provider enables businesses to accept card payments by setting up a merchant account and managing transactions. Swipesum assists businesses in finding the right provider, ensuring competitive rates, industry-specific features, and reliable support.

Voice Authorization

Voice authorization is a manual phone-based approval process for transactions, often used as a backup for flagged or high-value purchases. Swipesum helps simplify voice authorization, ensuring your transactions are secure, verified, and reliable.

Virtual Shopping Cart

A virtual shopping cart is an online tool that allows users to select and store items for purchase, essential to the e-commerce shopping experience. Swipesum enhances virtual shopping carts by optimizing payment and checkout solutions that drive conversions.

Terminated Merchant File

The Terminated Merchant File (TMF) is a database of merchants flagged for high-risk behavior or non-compliance, impacting their ability to secure merchant accounts. Swipesum offers solutions to help high-risk businesses manage TMF challenges and find secure, compliant payment processing options.

SSL

SSL (Secure Sockets Layer) is a security protocol that encrypts data between a web server and browser, essential for protecting sensitive information online. Swipesum enhances SSL implementation with full security solutions, supporting compliance, and customer trust for e-commerce sites.

Retrieval

Retrieval is the process by which a bank requests transaction information from a merchant to clarify details, often as a preemptive step before a chargeback. Swipesum helps businesses manage retrievals effectively, reducing the risk of chargebacks and maintaining customer trust.