Merchant Bank: The bank that does business with merchants enabling them to accept Credit Cards. A merchant has an account with this bank and each day deposits the value of a day's Credit Card sales. Acquiring banks buy (acquire) the merchant's sales slips and credit the tickets' value to the merchant's account. Also called the acquirer.
We will Activate your Merchant A/c.within 48hrs. after primilary Verification done by our Verification Team.

Acquiring Processor : The processor provides Credit Card processing, billing, reporting and settlement, and operational services to acquiring banks. Many financial institutions do not do their own bankcard processing because it is more cost-effective to let someone invest in the equipment and people and do it for them.

Application Service Provider (ASP):The processor provides Credit Card processing, billing, reporting and settlement, and operational services to acquiring banks. Many financial institutions do not do their own bankcard processing because it is more cost-effective to let someone invest in the equipment and people and do it for them.

Aggregator: Organizations that provide merchants (in many cases start-up companies) with an Internet merchant account. Newly established companies may have difficulty qualifying immediately for merchant services from local banks due to the company's age, lack of transaction history, etc. Aggregators will accept financial responsibility for these merchants' transactions, effectively acting as guarantor to the acquiring bank for the smaller and newly established companies that banks may not wish to accept directly due to the higher risk involved. Aggregators will combine these smaller merchants under their merchant account enabling them to participate in e-commerce.

Card-not-present Transaction: A Credit Card transaction in which the merchant has received the card number from the buyer, but is unable to physically link the card to the buyer (i.e. Mail Order/Telephone Order or online transactions). This type of transaction carries the highest interchange rate due to high risk factor.

SSL: Secure Sockets Layer, a standard that enables secure credit card transactions on the Internet. SSL is the leading security protocol developed by Netscape for transmitting private documents via the Internet. SSL uses a private key to encrypt data and then sends this over the SSL connection. Netscape Navigator, Internet Explorer, and most commercially available Web browsers support SSL. Many Web sites use the protocol to obtain confidential user information. By convention, Web pages that require an SSL connection start with https instead of http.

Secure Server: A secure Web server that encrypts and decrypts messages to protect them against third party tampering. Purchases made from a secure Web server ensure that a user's payment or personal information is encrypted and not accessible to unauthorized persons

Issuing Bank: The bank that extends credit to customers through bankcard accounts. The bank issues the Credit Card and receives the cardholder's payment at the end of the billing period. Also called the issuer or the cardholder bank.

Merchant: The party that offers goods or services in exchange for payment. Merchants that accept payment by card must have a relationship with an Acquiring Bank.

Payment Gateway: An electronic application that integrates with a merchant's Web site in order to transmit transaction data to the payment card acquirer for both authorization and settlement purposes. A payment gateway accepts transactions from online merchant storefronts and routes them to a financial institution's processing system.

HTTP: Hyper Text Transfer Protocol, the underlying protocol used by the World Wide Web. HTTP defines how messages are formatted and transmitted, and what actions Web servers and browsers should take in response to various commands. For example, when you enter a URL in your browser, this actually sends an HTTP command to the Web server directing it to fetch and transmit the requested Web page..

Electronic Payment (E-payment): The ability to effect payment online without the physical transfer of cash or documents, regardless of time or location. E-payment methods include Credit Cards, debit cards.

Certificate Authority (CA): A trusted third-party organization or company that issues digital certificates used to create digital signatures and public-private key pairs. The role of the CA in this process is to guarantee that the individual granted the unique certificate, is who he or she claims to be.

Card-present Transaction: A card transaction in which the buyer physically gives the merchant their Credit Card in which to pay for the purchase. This type of transaction carries the lowest interchange rate since the buyer is actually present for the transaction. Also called a face-to-face transaction.

Per Transaction Fee: A transaction is the process that takes place when a cardholder makes a purchase with a payment card. A fee is then charged on these authorized transactions to cover necessary costs associated with processing the transaction.

Plug-in: A software module designed to add functionality to an existing software application.

Point-of-Sale (POS) Terminal: A server that is placed in the merchant's location and connected to the banks' systems, interfacing cardholder software and acquirer payment systems. It is used to electronically read, authorize, record, and transfer data to and from the merchant for each sale. Also called a swipe box.

URL: Uniform Resource Locator, the global address of documents and other resources on the World Wide Web. The first part of the address indicates what protocol to use, and the second part specifies the IP address or the domain name where the resource is located.

API: An Application Programming Interface (API) is a particular set of rules and specifications that a software program can follow to access and make use of the services and resources provided by another particular software program that implements that API. It serves as an interface between different software programs and facilitates their interaction, similar to the way the user interface facilitates interaction between humans and computers.