ACH

Automated Clearing House is a network used for electronically moving money between bank accounts across the United States.

API

Application Programming Interface is a software intermediary that delivers a user response to a system and sends the system's response back to a user.

Authorization (Auth)

An authorized transaction is a debit or credit card purchase for which the merchant has received approval from the bank that issued the customer's payment card.

Batch

A batch contains all the transactions that occurred since the last batch was run. Typically, businesses close out their batches at the end of each business day.

Cash Receipts

Cash receipts is an accounting term. This term is most commonly used in QBD, BC and Dynamics F&O integrations. For example, the customer payment journal in F&O is used to record the cash receipts. Whenever there is a cash sale, a cash receipt has to be recorded. The following payment methods are considered cash sales: • Cash • Check • Purchases on store credit

Card Verification

Card verification is a strong first-line defense against potentially fraudulent cards. It ensures that the credit card number provided is associated with a valid, open account, and can be charged successfully. When saving a new card or running a transaction, a $0.05 card verification transaction is run to validate the card and voided immediately.

Capture

A payment is captured when a pending payment completes after a payment authorization, to move the authorized transaction funds from the account of the issuing bank into the merchant account.

Chargeback

Chargebacks occur when a credit card holder informs the credit card company that the charge was not authorized, or that goods or services were not delivered as promised.

CRM

Customer Relationship Management is a technology for managing the company’s relationships and interactions with customers to aid in growing the business.

eCommerce

Electronic Commerce is a business model that allows the firms and individuals buy and sell things over the internet.

ERP

Enterprise Resource Planning is a form of business process management that streamlines systems and software.

Integration

Integration is a way of connecting ERP software to other systems to ensure that consistent information is shared while also automating workflows.

Invoices

An invoice is a record of a sale or shipment made by a vendor to a customer that typically lists the customer’s name, items sold or shipped, sales price, and terms of the sale.

Merchant

A merchant is any type of business that accepts card payments in exchange for goods or services. A merchant bank establishes and maintains merchant accounts. Merchant banks allow merchants to accept deposits from credit and debit card payments.

Payment Methods

Payment methods are ways in which customers pay for their subscription services. A customer can choose a payment method based on your company’s list of preferred payment methods.

Point of sale

A point of sale (POS) transaction occurs between a merchant and a customer when a product or service is purchased, commonly using a point-of-sale system to complete the transaction.

Pre-authorization

Pre-authorization places a hold on the customer’s credit card for a specified dollar amount based on a projected sale amount. This guarantees access to their credit limit for the specified Published Date [Type here] [Type here] [Type here] amount. Also known as pre-auth, authorization, or payment authorization.

Post-authorization

A post-authorization, or post-auth, is a type of authorization that confirms the merchant is ready to capture payment of the existing pre-authorized transaction. When the post-auth is processed, the amount is actually debited from the cardholder’s account. A post-auth cannot be voided, but it can be refunded.

Sales order

A sales order is a document generated by the seller upon receiving a purchase order from a buyer specifying the details about the product or service along with price, quantity, buyer details like the shipping address, billing address, mode of payment and terms and conditions.

Tokenization

Tokenization is the process of replacing sensitive data with unique identification symbols that retain all the essential information about the data without compromising its security. This includes debit and credit card numbers.

Sync

Sync or synch is a shortened term for "synchronize" and refers to an exchange between multiple devices or programs making the data on all devices identical. This process also involves updating any information that differs on either of the two devices. Syncing keeps the data backed up and current.

Virtual Terminal

A virtual terminal (VT) is a web-based payment application that makes it possible to accept credit and debit card payments without a traditional credit card terminal.