A fraud-prevention tool for ‘Card Not Present’ payments (phone, mail order and online) that matches the customer’s billing address with what the issuing bank has on file before the transaction can proceed.

When the customer’s bank (aka the ‘issuing bank’) verifies that the customer has enough funds to cover the payment amount.

A short-range wireless connection between devices. In card machines, it allows you to take payments within a certain range using a portable device.

Organisations that own and operate a payment transaction network, allowing members, typically banks and financial institutions, to issue cards and also to acquire card payments on behalf of merchants. Visa and MasterCard are two of the most widespread Card Schemes.

When a customer’s bank reverses a card transaction, removing the amount previously credited to the merchant and returning it to the customer who carried out the transaction with their card. This can happen in the event of fraud, processing errors and disputed transactions.

Card products designed to help businesses streamline expenses.

Card payment technology that allows customers to pay for transactions under £30 by simply holding their card above a card machine for 5 seconds.

The fee an acquirer (e.g. Lloyds Bank Cardnet) pays the customer’s bank (also referred to as the ‘issuing bank’) to cover the processing costs of each card transaction. Interchange fees are set by the Card Schemes.

The bank (or financial institution) that issued a customer with their card and maintains a contract with them for repayment of card transactions.

This is your unique account number that is assigned to your business to help us identify you.