What is an Acquiring Bank? An acquiring bank is a financial institution that provides merchant accounts and processes credit card…

What is a Preauth or Pre-Authorization? Pre-authorization is not a purchase but a temporary hold on funds on a credit…

What is a Gift Card? A gift card (also known as gift certificate in North America, or gift voucher or…

What is a Merchant Processor? Also referred to as a payment processor is a company appointed by a merchant to…

What is a Payment Gateway? An e-commerce application service provider that authorizes credit card payments for a business. It is…

What is a Base Currency? For currency conversions, it is the first currency in a currency pair.  For pricing, it…