This glossary contains general terms and language used throughout our PPaaS developer documentation portal; as well as more generic terms from the world of payments.
A merchant or other entity that accepts a payment instrument presented by a client in order to transfer funds to that merchant or other entity.
An acquirer is a bank or a licensed financial institution with regulatory capacity to accept and settle payments to its customers. In the payment value chain, the acquirer enables businesses to accept payments whatever the transaction type. In point-of-sale (POS) transactions, the entity (usually a credit institution) to which the acceptor (usually a merchant) transmits the information necessary in order to process the card payment.
Alternative Payment Methods (APM)
Alternative payment methods are defined as a way of paying for goods or services which are not made via cash or major card schemes (Visa, MasterCard, American Express). This includes - for example - certain types of closed-loop prepaid cards, e-wallets, bank to bank transfers, and QR code based payments.
In PPaaS, applications can reside on a payment device or a web application and they can consume PPaaS services through PPaaS API products. These applications can be developed a third party. PPaaS Application Programming Interface (API) is a type of software interface offering a service to other pieces of software.
A security mechanism for verifying: 1) The identity of an individual or other entity (including verification by means of a computer or computer application); and 2) The level of authority of that person or entity (i.e. the ability of that person or entity to perform specific tasks or activities).
The consent given by a participant (or a third party acting on behalf of that participant) in order to transfer funds or securities.
Bank Identifier Code (BIC)
An International Organization for Standardization (ISO) technical code that uniquely identifies a financial institution. SWIFT is the registration authority for BICs.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
Batch (bulk payments)
A group of orders (payment orders and/or securities transfer orders) to be processed together.
A recipient of funds (payee) or securities. Depending on the context, a beneficiary can be a direct participant in a payment system and/or a final recipient.
A Beta version of a product or a feature provides useful capabilities, but may have limited coverage or functionality, or require further work before general release. It is available in production to all customers but we may need to make minor adjustments or add more features before the final release.
We often invite customers to explore new products and features we are developing. These Private Beta versions can only be accessed by authorised applications. If you are interested in working with Ingenico during this experimental phase, please contact your customer success manager or sales representative.
Bill of exchange
A written order from one party (the drawer) to another (the drawee) instructing it to pay a specified sum on demand or on a specified date to the drawer or a third party specified by the drawer. These are widely used to finance trade and, when discounted with a financial institution, to obtain credit.
Biometric authentication is a security process that relies on the unique biological characteristics of individuals to verify they are who they say they are. Current trends for biometric authentication include fingerprint scans, retina scans, and facial recognition technology.
A process preventing the transfer of a specified amount of funds or a specified quantity of a security. Bulk Provisioning Bulk provisioning is a process where a Client can add merchants, their stores and devices using CSV file upload through bulk provisioning UI or processing through an API. This process will reduce a Client's effort & time for merchants, their stores & device provisioning.
Buy now Pay later (BNPL)
Buy now pay later schemes, (or Financing at POS) offer credit terms to consumers while guaranteeing settlement for the merchant. BNPL, lets shoppers break their purchases into installment payments, often interest-free for the consumer, which can make big purchase item seem more affordable. BNPL relies on a simplified user enrolment process, fast authorization and digital engagement to extend its market.
Card (payment card)
A device that can be used by its holder to pay for goods and services or to withdraw money.
A person to whom a payment card is issued and who is authorized to use that card.
A financial institution that makes payment cards available to cardholders, authorizes transactions at point-of-sale (POS) terminals or automated teller machines (ATMs) and guarantees payment to the acquirer for transactions that are in conformity with the rules of the relevant scheme.
A technical and commercial arrangement set up to serve one or more brands of card which provides the organizational, legal and operational framework necessary for the functioning of the services marketed by those brands.
Card with a cash function
A card enabling the cardholder to withdraw cash from a cash dispenser and/or deposit cash. The cash function is usually combined with a payment function.
Card- Linked Offer
As part of Commerce Services, PPaaS proposes Card-Linked-Offer (CLO) Merchant offer to acquirers and ISVs for their Merchants. This offer enables an automatic In-Store Consumer (shopper) recognition to detect a CLO loyalty membership and to notify near real time the loyalty provider.
A card which has only a cash function.
Cash Settlement Agent
The entity whose assets or liabilities are used to settle the payment obligations arising from funds transfer systems or from securities transfers within a central securities depository (CSD). Commercial banks and central banks are typical cash settlement agents.
A quantitative limit on the funds or securities transfer activity of a participant in a system. Limits may be set by each individual participant or imposed by the entity managing the system. Limits can be placed on system participants’ net debit and/or net credit positions.
Catalog Service & Package
Catalog is the module of PPaaS that lists all of its offerings. These offerings can be in the form of:
- A la carte Service: Which allows PPaaS client to subscribe to any service directly on standalone basis.
- PPaaS Packages: Packages designed by PPaaS team by bundling multiple services. Once subscribed, PPaaS client gets all of the services associated with a package.
Chip Card (smart card)
A card with an embedded microprocessor (chip) loaded with the information necessary to enable payment transactions.
The term Client refers to the direct client purchasing PPaaS.
Transactions occurring in a network outside of a payment scheme and in which the issuer of the card is responsible for settling the transaction directly with the merchant.
A Consumer is a client of the Merchant.
An arrangement whereby a product or service is associated with more than one brand.
Configuration instance is defined values of the configuration parameters corresponding to a configuration template for a given MA, Merchant or Store. In case Configuration Instance is available at MA level, the values of configurations parameter in the Configuration Instance will be applied to the associated Merchant as well unless there is a specific Configuration Instance at Merchant level. PPaaS
Every PPaaS Service has defined configuration parameters and they are grouped in a Configuration template file. PPaaS
Type of Proximity Payments which is typically based on NFC technology. Generic
Credit Card (card with a credit function)
A card that enables cardholders to make purchases and/or withdraw cash up to a prearranged credit limit. The credit granted may be either settled in full by the end of a specified period, or settled in part, with the balance taken as extended credit (on which interest is usually charged).
A credit institution is a company duly authorized to carry out banking transactions on a regular basis (i.e. to receive deposits from the public, carry out credit transactions, make funds available and manage means of payment).
Credit Limit (credit cap)
A limit on the credit exposure which a payment system participant incurs either vis-à-vis another participant (a “bilateral credit limit”) or vis-à-vis all other participants (a “multilateral credit limit”) as a result of receiving payments which have not yet been settled.
A payment instrument allowing a payer to instruct the institution with which its account is held to transfer funds to a beneficiary.
A payment where the financial institutions of the payer and the payee are located in different countries.
Settlement that takes place in a country (or currency area) in which one or both parties to the transaction are not located.
The deadline set by a system (or an agent bank) for the acceptance of transfer orders for a given settlement cycle.
The complete cycle of processing tasks which need to be completed in a typical business day, from start-of-day procedures to end-of-day procedures. This sometimes includes the backing-up of data.
Data Encryption Standard (DES)
Stands for Data Encryption Standard, a cryptographic algorithm commonly used in payments. Triple DES cryptographic keys (3DES or TDES) is an improvement and more robust of the DES algorithm. Both DES and TDES are now considered as obsolete even if TDES is still widely used in the financial industry. It is now superseded by AES.
Debit Card (card with a debit function)
A card enabling its holders to make purchases and/or withdraw cash and have these transactions directly and immediately charged to their accounts, whether these are held with the card issuer or not.
Delayed Debit Card (charge card)
A card enabling its holders to make purchases and/or withdraw cash and have these transactions charged to an account held with the card issuer, up to an authorized limit. The balance of this account is then settled in full at the end of a predefined period.
The transfer of financial instruments or commodities by means of book entry or physical exchange.
A PPaaS service category that enables estate owners to manage their payment devices remotely.
Device Fleet Operator (DFO)
Company that manages the terminals on behalf of an acquirer or an ISV. For example, a DFO manages a fleet of payment devices on behalf of a PPaaS Client.
The Device SDK enables devices to use PPaaS functionalities from software running on Devices. It exposes APIs and it include libraries and sample code for various endpoint targets both for Payment Devices and Point of Sales.
Applications that store a virtual copy of payment method for use in online or offline payment transactions. PayPal and Apple Pay are examples of digital wallets.
Dynamic Currency Conversion
The PPaaS configuration setup for the merchant identifies the DCC request from the terminal or online portal and does a smart routing to the DCC provider. The response from PPaaS DCC is capable to identify any errors such as unknown currency, card incompatibility, amount above the permissible limit, and more. Being welcoming to international customers with PPaaS DCC enablement will make an impact and increase your business opportunities amongst customers.
Settlement which takes place in the country (or currency area) in which both parties to the transaction are located.
Electronic Bill Presentment and Payment (EBPP)/Electronic Invoicing
Services which enable the electronic transmission, browsing and payment of invoices.
Electronic Data Interchange (EDI)
The exchange between commercial entities (in some cases also public administrations), in a standardized electronic format, of data relating to a number of message categories, such as orders, invoices, customs documents, remittance advices and payments. EDI messages are sent through public data transmission networks or banking system channels. Any movement of funds initiated by EDI is reflected in payment instructions flowing through the banking system.
A United Nations body, has established a set of standards relating to electronic data interchange for administration, commerce and transport (EDIFACT).
A monetary value, represented by a claim on the issuer, which is:
- stored on an electronic device (e.g. a card or computer);
- issued upon receipt of funds in an amount not less in value than the monetary value received; and
- accepted as a means of payment by undertakings other than the issuer.
Electronic Money Institution (ELMI)
A term used in EU legislation to designate credit institutions which are governed by a simplified regulatory regime because their activity is limited to the issuance of electronic money and the provision of financial and non-financial services closely related to the issuance of electronic money.
Electronic Signature (digital signature)
A string of data, generated by a cryptographic method, which is attached to an electronic message in order to guarantee its authenticity, identify the signatory and link the content to that signatory (thereby protecting the recipient against repudiation by the sender).
This is the generic term used to cover both POS and Payment device.
End-to-End Encryption (E2EE)
Describes any solution that encrypts communication from one system or device to another. The data is encrypted on the sender's side and prevents third parties from accessing it while it's transferred, so only the recipient is able to decrypt it. Nobody in between (Internet provider, application service provider or a hacker) can access it.
Entity that owns and in many cases manages a fleet of devices. It may outsource management to Device Fleet Operators.
EFTPOS stands for “electronic funds transfer at point of sale”. A terminal which captures payment information by electronic means and transmits such information either online or offline.
Europay, Mastercard, Visa (EMV)
EMV stands for Europay, MasterCard, and Visa, the 1994 founders. It commonly refers to a credit card with a smart chip. The EMV standard is a security technology used worldwide for all payments done with credit, debit, and prepaid EMV smart cards.
An acronym describing the set of specifications developed by the consortium EMVCo, which is promoting the global standardization of electronic financial transactions – in particular the global interoperability of chip cards.
A payment where the payer and the payee are in the same physical location.
Final Settlement (final transfer)
A settlement or transfer is final when it is unconditional, enforceable and irrevocable, even in the framework of insolvency proceedings opened against a participant (except in the case of criminal offences or fraudulent acts, as determined by a competent court).
In the European context, a distinction is made between:
- the enforceability of a transfer order which is binding on third parties and protected from insolvency risks, provided that the transfer order was entered in the relevant system, in accordance with the rules of that system, prior to the opening of insolvency proceedings (with transfer orders entered in a system following the opening of insolvency proceedings being legally enforceable only in exceptional circumstances); and
- the irrevocability of a transfer order which cannot be revoked by the participants as of the point in time laid down in the rules of that system.
A distinction should be made between the finality of the transfer order and the finality of the transfer, which indicates the moment at which entitlement to the asset in question (be it cash or securities) is legally transferred to the receiving entity.
Foreign Exchange Settlement Risk (cross-currency settlement risk)
The risk that a party to a foreign exchange transaction will transfer the currency it has sold, but not receive the currency it has bought. This is a form of principal risk.
Four-party Card Scheme
A card scheme where the stakeholders involved are: 1) the issuer; 2) the acquirer; 3) the cardholder; and 4) the card acceptor.
(In the case of automated teller machine (ATM) transactions, it is usually the acquirer that offers its services via the ATM.) By contrast, in a three-party card scheme, the issuer and the acquirer are always the same entity.
Or features that any given service offers. For example – Loyalty service may offer a feature for earning loyalty points as well as burning loyalty points.
Funds Transfer System (FTS)
A formal arrangement based on a private contract or legislation, with multiple membership, common rules and standardized arrangements, for the transmission, clearing, netting and/or settlement of monetary obligations arising between its members.
Gateway (Payment Gateway)
A gateway acts as a middleman between the merchant and the acquirer ultimately responsible for settling with the merchant. Payment gateways facilitate technical connections and often connect several acquiring banks and multiple payment methods under a single system, facilitating choice and easing integration.
A single physical certificate that covers all or part of an issue of securities. Governance Procedures through which the objectives of a legal entity are set, the means of achieving them are identified and the performance of the entity is measured. This refers, in particular, to the set of relationships between the entity’s owners, board of directors, management, users and regulators, as well as other stakeholders that influence these outcomes.
The settlement of transfer orders one by one.
Gross Settlement System
A transfer system in which transfer orders are settled one by one.
Banking services which retail customers of credit institutions can access using various kinds of telecommunication device (for example, telephones, mobile phones, television sets, terminals, or personal computers).
A system that combines the characteristics of RTGS systems (for example, the continuous processing and clearing of transfer orders) and net settlement systems (the operation of several settlement cycles per day, some form of netting procedure for transfer orders, etc.).
Identity Provider (IdP)
Identity Provider is a system entity that creates, maintains, and manages identity information for principals sand also provides authentication services to relying applications within a federation or distributed network. Generic
Independent Software Vendor (ISV)
Independent software vendor, is defined as “a company that provides software solutions that aid in managing different functions of a business operation. Generally, ISVs specialize their solution to a specific merchant vertical, often times at a granular level”. For example, there are ISVs specialized in Hospitality, Restaurants, etc.
Interbank Funds Transfer System (IFTS)
A transaction fee payable between the payment service providers involved in a transaction. Interchange fee Settlement that is affected through transfers of securities and/or funds on the books of a bank or investment firm, as opposed to settlement via an interbank funds transfer system or a central securities depository (CSD).
International Bank Account Number (IBAN)
An International Organization for Standardization (ISO) technical code that is an expanded version of the basic bank account number (BBAN). Intended for use internationally, the IBAN uniquely identifies an individual account at a specific financial institution in a particular country. The IBAN also includes the bank identifier of the financial institution servicing that account.
In-store Payment means any payment made in a retail store by a Consumer.
The set of arrangements/procedures that allows participants in different systems to conduct and settle payments or securities transactions across systems while continuing to operate only in their own respective systems.
Regulated institution that issues the payment card to the consumer in the case of a scheme based card and is responsible for settling funds to acquirers in scheme-based systems. In the case where there is no acquirer involved in settlement, the issuer settles funds directly to the merchant.
Know Your Customer (KYC)
Know Your Customer refers to verifying the identity of consumers according to standards usually defined by a regulator in order to ensure that funds are not used for illicit activities or are being laundered as a result of illicit activities.
Know Your Business (KYB)
Know Your Customer (KYB) refers to verifying the identity of the clients according to standards usually defined by a regulator in order to ensure that funds are not used for illicit activities or are being laundered as a result of illicit activities.
Large-value Funds Transfer System (wholesale funds transfer system)
A funds transfer system through which large-value and/or high-priority funds transfers are made between participants in the system for their own account or on behalf of their customers. Although, as a rule, no minimum value is set for payments made in such systems, the average size of such payments is usually relatively large.
Large-value payments are generally for very large amounts, are exchanged mainly between banks or between participants in financial markets, and usually require urgent and timely settlement.
Letter of Credit (L/C)
An irrevocable commitment by a bank (the issuing bank) or other issuer made at the request of a customer (the applicant third party) to pay a specified sum of money to a third party upon request, subject to terms and conditions drawn up in accordance with uniform customs and practices.
A Logical Device is an abstract view of a Payment Device within a Store of a Merchant. The principle of the Logical Device is that a Logical Device can be mapped to any model of physical Payment Devices. At any given time, a Logical Device can be mapped to zero Physical Device, one Physical Device (the most typical case) or to two Physical Devices (during a swap operation for instance in repair situation).
Mail Order Telephone Order (MOTO)
During a MOTO transaction, the card holder is not present to pay into the device when the transaction takes place. In the context of a MOTO transaction, the card's information is sent by email or by telephone.
Mandate for Direct Debits
The authorization given by a payer to a payee (and/or the institution with which the payer’s account is held) consenting to the debiting of the payer’s account.
Highly liquid collateral required in order to cover adverse market price movements. The initial margin is calculated on the basis of a formula set by the counterparties to a trade or by a central counterparty (CCP). A market participant is called upon to provide additional collateral if the collateral that has been deposited is no longer sufficient (with this “margin call” indicating a shortfall in the margin coverage).
Means of Payment
Assets or claims on assets that are accepted by a payee as discharging a payment obligation on the part of a payer vis-à-vis the payee.
A Merchant is the generic name for the business accepting payments from consumers.
Merchant Category Code (MCC)
Merchant Category Code (see ISO 18245) defines code values used to enable the classification of merchants into specific categories based on the type of business, trade or services supplied. Values are specified only for those merchant categories that are generally expected to originate retail financial transactions.
Merchant of Records
The entity that is authorized, and held liable, by a financial institution to process a consumer's credit and debit card transactions.
Merchant Provisioning is a process using which a Merchant aggregators are able to add Merchants, their stores and devices into PPaaS including any services that merchants have subscribed to. The same can be done one by one for each merchant, store and device. And the same can also be done as bulk provisioning using CSV file upload or API calls.
Merchant Service Charge (MSC)
A fee paid by the acceptor/merchant to the acquirer.
This refers to loyalty-rewards programs that utilize merchant partners to provide rewards and incentives for promotional campaigns for cardholders, financed by the merchant. Examples of loyalty reward mechanisms include Points, Punched cards, Tiered program, Value based programs, VIP member club, and Cashback to name a few.
Mobile Payment (m-payment)
A mobile payment is a payment made for a product or service through a portable electronic device such as a tablet or cell phone.
A payment where a mobile device (for example, a phone or personal digital assistant (PDA)) is used at least for the initiation of the payment order and potentially also for the transfer of funds.
Multi-factor Authentification (MFA)
For PPaaS there are several solutions that are offered like login password plus one time password (OTP).
Multi-purpose Prepaid Card (Electronic purse)
A prepaid card which can be used at the outlets of several service providers for a wide range of purposes.
Offline Card Transaction
A card transaction which is authorized without contacting the issuer at the time of the transaction.
Online Card Transaction
A card transaction which is authorized following explicit approval by the issuer at the time of the transaction.
The process of paying for and collecting money for goods sold online. The most common payment forms online are credit card and debit cards, but wallets, bank transfers, bitcoin and other mechanisms exist.
Open loop systems can be compared with a hub-and-spoke model. The use of a credit card, debit card, or gift card to purchase goods or services anywhere that payments cards are accepted, subject to terms and conditions of the card issuer. (for example, Visa, Mastercard).
Open ID Connect (OIDC)
OpenID Connect is a simple identity layer on top of the OAuth 2.0 protocol. It allows clients to verify the identity of the end-user based on the authentication performed by an Authorization Server, as well as to obtain basic profile information about the end-user in an interoperable and REST-like manner.
The risk that deficiencies in information systems or internal controls, human error or management failures will result in unexpected losses. This relates to both internal and external events.
Subscription package identifies a subscription of package to a client. There can be one or more package subscription for a given client. These package subscriptions can be further pushed to PPaaS Client’s associated mrchants as well. Individual package subscription can result into Clients getting access to multiple PPaaS services.
In a strict sense, a payment is a transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. However, in a technical or statistical sense, it is often used as a synonym for “transfer order”.
A financial institution that accepts and routes a payment transaction, such as credit or debit card payments, on behalf of a merchant. The acceptor may also be an acquirer.
The Payment Application refers to the software that captures, processes, and transmits payment data to an acquirer or processor.
Payment Card Industry (PCI)
Set of security standards for payment and PIN management.
PCI DSS (Payment Card Industry Data Security Standard)
Measures in place that ensure merchants are meeting these requirements when storing and processing payments, so that customer data is kept safe.
Payment-centric application (PPaaS Term not generic): it refers to one application running on the payment device that can handle the payment transactions (for example, bank card, APMs, etc.) and as well can handle any other related Value-Added Services (VAS) such as commerce services like loyalty. Depending on the Endpoint configuration, it can interface with Merchant and/or the consumer.
See Physical Device.
The payments ecosystem refers to the manner in which different players in payments, but also in other commerce services, work together to create a service around payments where the combined value of the whole is greater than the value of its individual components.
A payment facilitator are service providers registered with Acquirer to facilitate transactions on behalf of Sub-merchants. They maintain the direct relationship and holds the merchant account with the acquirer on behalf of sub-merchants, which are typically either new or small merchants (for example, Stripe, PayPal).
Include the major card companies, such as Visa, Mastercard and American Express. They define the rules under which payment cards (or equivalent) are issued and acquired (settled). Those companies have been behind the buildout of infrastructure that allows for payments across different rails that connect with all sides of a transaction.
Payment Platform as a Service (PPaaS)
Payments Platform as a Service. PPaaS is a cloud-based and device agnostic platform that works with any payment device as well as for online commerce, creating a true omnichannel experience. It helps build or enhance not just how and what payments are accepted, but the entire customer payment journey at checkout! To learn more about our services visit our website.
A data processing company that contracts with acquirers to provide communication and processing systems that connect with schemes or other payment methods where appropriate for clearing and settlement services on behalf of those acquirers. (In some cases the acquirer may act as its own back-end processor).
A set of interbank rules, practices and standards necessary for the functioning of payment services.
Payment Service Provider (PSP)
Payment service providers also known as merchant service providers; offer various services concerning the acceptance of electronic payments and integrates different payment methods such as credit and debit cards, bank payment, e-banking and e-Wallets. Usually a PSP is not bound to an acquirer or a payment network. This permits the integration of several different national and international payment methods over just one PSP.
This term has two meanings:
- in some cases, it refers to the set of instruments, banking procedures and interbank funds transfer systems which facilitate the circulation of money in a country or currency area;
- in most cases, it is used as a synonym for “funds transfer system”.
Payment vs. Payment (PvP)
A mechanism which ensures that the final transfer of a payment in one currency occurs if – and only if – the final transfer of a payment in another currency or currencies takes place.
The party to a payment transaction which issues the payment order or agrees to the transfer of funds to the payee.
PAN-European Automated Clearing House (PE-ACH)
A business platform for the processing of euro payment instruments which is made up of governance rules and payment practices and supported by the necessary technical platform(s).
A Physical Device is a Payment Device identified with a serial number and a part number. In PPaaS, physical devices are registered under device stocks and in order to be used through PPaaS services and physical devices are mapped onto logical devices within merchant stores.
Personal Identification Number (PIN)
A personal and confidential numerical code which the user of a payment instrument may need to use in order to verify one's identity. In electronic transactions, this is seen as the equivalent of a signature.
Point of Sale (POS)
Point of Sale refers at its most basic to an electronic cash register (ECR). The place where retail sales occur, and payment transactions are initiated. Integrated POS systems offer more functionality than generic POS terminals and can be tailored to specific business types, such as restaurants or grocery stores. This can include services such as inventory control and analyzing trends and consumer behavior.
The endpoint software that handles the sale, Electronic Cash Register (ECR), and related operations that provides the merchant with the user interface. This software, running on the POS may be specific to certain businesses (for example, specific software for a restaurant managing orders for all the tables).
Point-of-sale (POS) Terminal
A device allowing the use of payment cards at a physical (not virtual) point of sale. The payment information is captured either manually on paper vouchers or by electronic means.
POS to Payment Device Integration
This describes the mechanism by which the POS communicates and interacts with the Payment Device.
Point-to-point encryption (P2PE) is a process of securely encrypting a signal or transacted data through a designated "tunnel." This is most often applied to credit card information encrypted from the merchant point-of-sale (POS) entry to the final credit card processing point, often maintained by a third party and specify by PCI.
A card on which a monetary value can be loaded in advance and stored either on the card itself or on a dedicated account on a computer. Those funds can then be used by the holder to make purchases.
Pricing grid refers to the array of pricing associated for a given service or a package for the given client.
The performance of all of the actions required in accordance with the rules of a system for the handling of a transfer order from the point of acceptance by the system to the point of discharge from the system. Processing may include clearing, sorting, netting, matching and/or settlement.
An administrator of the PPaaS platform who is able to manage and configure all entities, services and API products on the platform. At the operational level, this allows the creation and management of Tenants.
PPaaS Bank Card Payment Service
This service allows for payment acceptance of bank cards through magnetic stripe, chip & pin, contact and contactless cards and manual entry transaction types for supported schemes such as Visa, Mastercard and other schemes. PPaaS also offers a variety of transaction types such as sale, void, refund, and refund/void (cancel) by web.
PPaaS Catalogue API
The PPaaS Catalogue APIs can be used to:
- View the entire catalogue of PPaaS packages and services available for subscription.
- Customize merchant packages, and allow your merchant to subscribe to them.
- View the catalogue of merchant packages, and services, which are available for merchants to subscribe to.
PPaaS Commerce Services
This package contains our first solutions to assist merchants to achieve a profitable growth of their business, by providing a suite a services that goes beyond payment. PPaaS aims to deliver innovative and high value added set of services at POI first, then on other endpoints. You will find in the section the description of the Commerce Services that will be natively provided by PPaaS as a start, such as digital receipt or reporting.
PPaaS Core Enablement Services
A prerequisite bundle to setup PPaaS for clients to manage their merchants and to enable other PPaaS bundles for their merchants.
PPaaS Device Management Services
Provides the client all the tools needed to manage efficiently and easily its payment device fleet. It also encompasses the Remote Key Injection (RKI) solution to ensure the payment device security.
PPaaS Digital Receipt (DR)
A paperless way to receive a receipt once a purchase has been made. Digital receipts prove to be much more advantageous as long-term solutions, such as when proof of purchase may need to be presented at a much later date; since paper receipts are likely to fade or get lost over time.
PPaaS makes it very convenient to filter by transactions fields and allows the cardholder to have the receipt by SMS/e-mail/ on the consumer's smartphone by simply flashing a QR code. It reduces paper related costs, addresses new use cases and improves check out experience and customer knowledge.
PPaaS Endpoint Integration
PPaaS is designed to be integrated seamlessly with any Payment Device configurations. These can vary from a stand-alone payment device configuration, to a retail configuration with a POS, and to the acceptance of transactions on smartphones. PPaaS is designed to integrate with various brands of equipment.
PPaaS Merchant Management Services
This service is included in the PPaaS Core Enablement services package. This service allows merchants to manage end-to-end the Merchant's lifecycle - from onboarding of merchants to managing their stores, terminals, and service subscriptions to managing their support issues. This service is accessible via public APIs and the PPaaS Client portal.
PPaaS Merchant Onboarding Solution
PPaaS merchant onboarding solution makes it easy to accept, process, and approve the merchant onboarding forms. Once approved, the new merchant gets a Merchant ID, also known as MID, created in PPaaS. Credentials for the portal are also created, and automatically sent to the merchant so they can access the subscribed services. PPaaS will also provide global industry standardized tools for KYC/ KYB for easier onboarding in coming releases.
PPaaS Omnichannel Services
The Omnichannel service offers clients the possibility to combine multiple channels to process a payment transaction. Channels being online e.g. web or in-store. PPaaS brings consistent services across any channels and manages the complexity of multiplexing channels for any payment methods.
PPaaS, enables cross-channel use cases, enabling to recognize a given customer whatever the channel for an end to end seamless experience.
PPaaS Payment Services
Payment services required by a Merchant, from "classic" payment service (EMV, etc.,) to alternative and advanced payment solutions. Payment service means an electronic payment (for example a direct debit, standing order, credit transfer, debit card or credit card transaction) or a Transaction carried out through our Online Services. Currently PPaaS offers the following services:
- Bank Card Payment: Visa, Mastercard
- Alternative Payment Methods: Alipay+, PayPal, WeChat Pay, Klarna
- Smart routing
- Dynamic Currency Converter
- Omnichannel services (Refund/Cancel by web)
- Buy now Pay Later
PPaaS Smart Routing service
Dynamically configure rules and efficiently manage your payment transactions routing to different acquirers.
PPaaS Tokenization Service
Tokenization is the process to protect sensitive data, such as credit card account numbers, by replacing them with non-sensitive, alias values or "tokens" to reduce the amount of cardholder data in the environment. PPaaS offers a Tokenization API to replace sensitive card data with a token, as well as the possibility to delete them.
Proximity payments are mobile payments in which the payer and the payee are in the same location and where the communication between their devices takes place through a proximity technology such as Near Field Communication (NFC), Quick Response (QR) codes, Bluetooth technology, etc.
Public Key Infrastructure (PKI)
PKI is a hierarchical structure of keys and certificates used for asymmetric cryptography. The purpose of a PKI is to facilitate the secure electronic transfer of information for a range of network activities such as e-commerce, Internet banking and confidential e-mail.
Rules and procedures that determine the order in which transfer orders are released from the queue and processed – for example, “first in, first out” (FIFO). Optimization routines may or may not be used.
In the field of direct debits, a claim made by a debtor for the reimbursement of debits effected from its account with or without a specific reason being indicated by that debtor.
Refund by Web
Capability for the merchant to refund partially or totally a consumer without asking for the payment card used at the time of the purchase.
In the field of direct debits, an instruction issued by a debtor prior to settlement, for whatever reason, to the effect that the debtor bank should not make a direct debit payment.
In the field of payments, a payment transaction whose normal execution is prevented by the payment service provider of either the payer or the payee prior to settlement.
An entity (typically a public or government entity) with authority to define policy and supervise a particular business activity through the making and enforcement of standards and rules.
Remote Key Injection (RKI)
Remote Key Injection (RKI) allows to securely provision cryptographic keys to devices through the Internet. It avoids onsite key injection which is costly and slow.
A payment made from a distance, without the payer and payee being present at the same physical location.
A card issued by a merchant for use at specified merchant outlets.
A non-time-critical payment of relatively low value. These payments are typically made outside of the financial markets and are both initiated by and made to individuals and non-financial institutions.
Reporting and Dashboarding Service
PPaaS Advanced Reporting and Dashboarding service enables merchants and estate owners to visualize all their transactions listed by chronological order. Merchants and estate owners can access all their card payment history. It includes "Basic reporting" features, in addition to:
- Customized dashboard with widget selection
- Automatic reporting to be sent by e-mail based on a free widget selection
- Mobile portal for merchants allowing business performance monitoring.
Funds which the recipient is entitled to transfer or withdraw from an account on the day of receipt.
Technique for managing payment queues by determining the order in which payments are accepted for settlement.
The services PPaaS provides to its clients are provided by many service providers. Certain service providers may provide similar Services (to clients or merchants) resolving a particular kind of problem faced by client or merchant. Such similar Services have common features and functionalities.
The services that have many common features and they address a unique problem for merchant or client can be categorized into a Service Domain.
Service Domain Category & Subcategory
Each service domain would be tagged against a service domain category and service domain subcategory as per the list given below for our Service Domain Category Payment.
SD sub-categories are:
- Bank Card
- Affordability / BNPL
Service Provider (SP)
Service providers are external, third-party companies connected to the PPaaS platform, whose payment and/or commerce services are enabled for consumption by PPaaS clients and their merchants.
Service Provider Contract
A service provider contract is a legal agreement between a service provider and PPaaS. The contract will outline the features/ services offered, subscription fees, service commitment, and duration of the contract.
Service Provider Proxy
A service provider proxy is an intermediary between PPaaS & service provider to facilitate transactions limited to the subscribed functions / used cases.
Service subscription identifies a subscription of service to a client. There can be one or more service subscription for a given client. These service subscriptions can be further pushed to the client's associated merchants as well. PPaaS clients get the service subscription as result of subscribing to the corresponding package.
Single Sign On (SSO)
Single Sign On for PPaaS is the ability to navigate from the PPaaS portal to other environments within the PPaaS universe with a unique login.
Software Development Kit (SDK)
A software development kit (SDK) is a collection of software development tools in one installable package. They facilitate the creation of applications by having a compiler, debugger, and perhaps a software framework. They are normally specific to a hardware platform and operating system combination.
A subscription represents the product details associated with the plan that the merchant subscribes to. This allows the client to charge the merchant on a recurring basis.
Tenant is an entity or person who operates the PPaaS platform and therefore in charge of boarding PPaaS clients.
Terminal Estate Manager (TEM)
An Ingenico service that enables the estate owners or managers to manage the payment terminal fleet remotely. It corresponds to Device Management for PPaaS and is not used for external communications.
Terminal Management Service (TMS)
A PPaaS service offering that allows to manage, update, and configure terminals remotely and securely. TMS service is being made available to merchant aggregators to use it for themselves in anyway they deem fit.
Transport Layer Security (TLS)
Cryptographic protocol to secure connections between two applications commonly relying on HTTPS.
Two factor Authentication (2FA)
This refers to the different levels of authentication to ensure that a transaction is being carried out by an authorized person. You can have one factor or Multi Factor Authentification (MFA).
Card used via online transaction on a one-time basis. Post-transaction, the card number is rendered useless.