SOLUTION GLOSSARY

In order to help you in the integration and the use of the NETBANX payment solution of our Paysafe partner, here is a glossary of some terms used in the documentation.

  • 3D Secure : 3D Secure adds an additional security layer for online purchases by requiring cardholders who are enrolled in either the “Visa Secure” or the "Mastercard SecureCode” program to authenticate themselves by providing a password. With 3D Secure, merchants can mitigate fraud while at the same time cardholders enjoy additional security when using their cards online. Paysafe is compliant to 3DS version 1.0.2.
  • Acquirer : The financial institution that processes and sponsors transactions on behalf of the merchant. It also maintains the merchant’s bank account when it comes to processing credit and debit card transactions. 
  • Authorization : Verifies that the credit card is valid and has sufficient funds. Please note that card authorization does not automatically means that the transaction will be processed. The authorization only verifies the AVS and CVD on credit cards.
  • AVS (Address Verification Service) : AVS is a verification system that helps reduce fraud by validating the billing address provided by the customer on the payment against the billing address registered with the customer's bank or credit card. Typically, only the numerical parts are verified (e.g. street number and postal code) and the result is returned to the merchant. 
  • Batch Upload : A group of transactions processed through a batch function (e.g. a file) that were processed on the same business day. The merchant creates a file and uploads it either to the Netbanx Back Office or through an SFTP folder.  
  • Billing Descriptor : Outlines how a merchant’s name is displayed on a cardholder’s credit card statement.  E.g. NBX*DARRELSDONUTS
  • BIN (Bank Identification Number) : The initial four to six numbers that appear on a credit card that identifies the issuing bank for the cardholder. BINs are categorized by the type of card (e.g. prepaid, credit, debit).
  • Card Associations : Visa, Mastercard and Amex are card associations. They license programs to financial institutions allowing them to issue credit cards to their clients.
  • Chargeback : See our Chargebacks page
  • Customer Profiles : This is where the merchant can see their customer base, if they are using profiles in the Netbanx Back Office. It can also be used to schedule payments for recurring transactions. 
  • CVV/CVD/CVC : A 3-4 digit number found on the back of a credit card. In the case of AMEX, these numbers are found on the front of the card.
  • Independent Credit : The merchant sends funds to the cardholder that are not related to a previous transaction.
  • Issuer, Issuing Bank : A bank that is authorized by card schemes to issue credit cards.
  • MCC (Merchant Category Code) : A four-digit number that classifies a merchant’s business by the type of transactions they process daily.
  • Merchant Transaction ID (Merchant Txn ID) : A unique alphanumeric value that can be used to track a payment on the merchant’s system. E.g. An invoice number. This number is generated through the merchant’s front-end system with their transaction requests.
  • Moto & Ecomm : Moto and Ecomm refer to methods of accepting payments. Ecomm stands for Ecommerce which is the acceptance of payments from an online source, typically a website which makes it a Card not Present environment (E.G. the merchant does not see the client card). Moto stands for Manual or Telephone order which means that the client is giving the card number for the merchant either in a face to face interaction or through the telephone, making it a card present transaction, similar to a Point of Sale system.  Desjardins accounts always come with both a Moto and an Ecomm account (the merchant is billed one monthly fee for both), each account should be used for its respective function.
  • Netbanx Back Office : portal where merchants can manage their Paysafe transactions, view payments, process refunds, make payments and generate reports. 
  • Payment Gateway : A payment gateway facilitates the transfer of information between active partners/merchants and the processor/acquiring bank to settle a transaction.
  • Payment Token : A form of encryption (a series of numbers and letters) used to protect credit card information. It allows the merchant to process repeat transactions on a card without storing full credit card numbers. The merchant does not see the full credit card number.
  • PCI Compliance : The Payment Card Industry Data Security Standard (PCI DSS) is a security standard for organizations that handle cardholder information. Merchants who collect and store cardholder information must be PCI compliant to ensure that sensitive customer financial information is stored securely. This standard covers both systems and business processes in place within an organization. 
  • Recurring Transaction : A recurring transaction is charged to a cardholder’s card on a scheduled basis. E.g. a gym charging a monthly fee automatically. 
  • Settlement : The process by which a merchant batches and receives payments for their transactions.
  • Virtual Terminal : This gives the merchant the ability to process payments manually through the Netbanx Back Office by entering the credit card and consumer information.