Payment Systems There are diverse segments of customers, each with their preferred payment option. It is therefore not surprising that online store operators implement different payment systems. The most common payment systems include invoice, pre-payment or cash on delivery. Likewise, purchases based on direct debit or through credit card are common in e-commerce. However, pure […]

Master Merchant Master Merchant contracts help online merchants who do not receive a credit card acceptance contract. Companies with a Master Merchant contract enter into subcontracts with smaller online stores, Internet service providers or other individuals who are not normally accepted as merchants by credit card companies, enabling them to implement debit and credit card […]

M-Payment M-payment is short for mobile payment. It refers to the payment of goods and services via a cell phone. It is possible for two private individuals to exchange money with each other via m-payment (person-to-person, P2P) or, for example, to pay in a store or over the Internet using a cell phone. Low acceptance […]

EPOS – electronic systems speed up payment processes EPOS is the abbreviation for Electronic Point of Sale. Through EPOS, one can handle cashless payment for products or services using a debit or credit card. The term EPOS denotes both electronic checkout system for retail business as well as online businesses. EPOS in retail Electronic checkout […]

Setup fee – one-time payment to setup an online payment system The set-up fee is charged only once when an online store or website operator uses the services of the payment provider, offering potential customers various payment options such as credit card, invoice, PayPal, GiroPay or Sofort. Once the online merchant has decided on one […]

Creditor Identification Number SEPA and the Creditor ID The Creditor Identifier or CI or UCI is part of the direct debit procedure. The Creditor Identifier or CI or UCI is part of the direct debit procedure. The Wikipedia states: “The Creditor Identifier is a mandatory feature for the account-independent, unique identification of the creditor of […]

Fast payment through Electronic Cash (E-Cash) The “Electronic Cash” payment system, also known as e-cash, is a debit card system for cashless payments. It is operated by the German Banking Industry (DK), the representative body of the leading banking associations. Cards bearing the “Electronic Cash” logo are issued by credit institutions. E-cash is a PIN-based […]

Camt Messages “Camt” stands for “cash management message”. It refers to an XML-based format used for message exchange between banks and customers. Until now, the SWIFT MT 940 and MT 942 bank statement formats serve as the basis for transmitting bank statement information to customers. However, these formats are not sufficient to represent XML-based information […]

Capture When a credit card payment is made – a pre-authorization or reservation is carried out. Capture refers to the point in time where the credit card is finally charged, and the amount is debited. The end customer doesn’t have to expect to be charged until this time, even if the credit card information is […]

Blacklist protects against payment defaults A blacklist is a list or database containing the names, bank details and other information of certain customers who have gained negative attention. In most cases, these individuals have a history of repeated non-payment and are therefore blacklisted as “bad” customers. Internal blacklist A blacklist can be maintained internally by […]

Content Goods Content goods generally include a wide variety of intangible assets. In most cases, these are digital content. This can include text, images, apps and videos, as well as video games and computer software. These are referred to as content goods if they can be ordered directly via the Internet and then downloaded or […]

Chargeback Rate The chargeback rate refers to the proportion of chargebacked credit card transactions following an objection by the cardholder. A chargeback is always possible if the cardholder believes that a certain amount was improperly charged to his or her credit card account. In this case, he or she has the amount charged back and […]