| Term | Abbreviation/ Initialism |
Meaning |
| Acquirer | The bank or financial institution that processes payment transactions on behalf of the merchant. Acquirers work with merchants to ensure compliance with card network rules and regulations. | |
| Address Verification Service | A fraud prevention tool that verifies the billing address entered by the customer matches the address on file with the credit card issuer. It helps merchants prevent fraudulent transactions by ensuring that the person making the payment is the actual cardholder. | |
| Anti-Money Laundering | AML | A set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income. |
| App Store / App Marketplace / App Catalog | A digital distribution platform for computer software called applications, often in a mobile context. Apps provide a specific set of functions which, by definition, do not include the running of the computer itself. E.G. Apple App Store & Google Play Store | |
| Applicant Tracking System | ATS | A software application designed to help organizations manage their recruitment and hiring processes more efficiently. Examples include: iCIMS TalentCloud, Workable, Greenhouse, Zoho Recruit. |
| Application Programming Interface | API | A set of rules and protocols for building and interacting with software applications. Dash’s primary mode of communication for various vendors such as FIS and Visa Direct. |
| Artficial Intelligence | AI | AI refers to the simulation of human intelligence in machines that are programmed to think and learn like humans. It encompasses a wide range of technologies, including machine learning, natural language processing, and robotics, which enable computers to perform tasks that typically require human intelligence. AI aims to improve efficiency, solve complex problems, and enhance decision-making across various industries. |
| Artificial General Intelligence | AGI | AI with the ability to understand, learn, and apply knowledge broadly |
| Artificial Narrow Intelligence | ANI | AI specialized in a single task or a narrow range of tasks |
| Artificial Neural Network | ANN | Computing systems inspired by biological neural networks |
| Attainment | The actual revenue achieved within a specified timeframe compared to the sales goal. | |
| Attainment Rate | The rate at which estimated load converts to actual load and therefore revenue. | |
| Authorization | The process of verifying that a customer has sufficient funds to cover a transaction before allowing the transaction to proceed. It ensures that the customer can pay for the goods or services they are purchasing. | |
| Authorization Code | A code provided by a card issuer to a merchant to approve a payment transaction. It confirms that the cardholder has sufficient funds to cover the transaction and that the transaction is authorized. | |
| Automated Clearing House | ACH | A network for processing electronic financial transactions in the United States. |
| Automated Teller Machine | ATM | An electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller. |
| Backlog Pre-Review | written stories, before grooming. originally only dev leads but got everyone else involved | |
| Balance Transfer | The process of moving debt from one credit card to another. It is usually done to take advantage of lower interest rates. | |
| Bank Secrecy Act | BSA | U.S. legislation created in 1970 to prevent financial institutions from being used as tools by criminals to hide or launder their ill-gotten gains. |
| Batch Processing | The processing of multiple payment transactions as a group, typically performed overnight. Streamlines payment processing and reduce costs. It is on a timed schedule. | |
| Batch Settlement | The process of settling a group of payment transactions at the end of the day. It involves transferring funds from the issuing bank to the acquiring bank. | |
| BIN Sponsorship | A service that allows a non-financial institution to issue payment cards under a BIN owned by a financial institution. This allows businesses to offer branded payment accounts without having to go through the regulatory process of becoming a financial institution. | |
| Biometric Recognition | Automated methods of identifying or verifying the identity of a person based on their unique biological and behavioral characteristics. This can include a fingerprint, iris scan, or a voiceprint. Behavioral characteristics such as shopping habits are often used to help prevent fraudulent transactions. | |
| Blockchain | A secured and decentralized digital ledger that records transactions on thousands of computers around the world in such a way that no registered transaction can be altered retroactively. | |
| Brand Indicators for Message Identification | BIMI | An email specification that allows senders to display their brand logo next to their emails in supported inboxes, enhancing brand recognition and trust. |
| Buy Now, Pay Later | BNPL | A type of installment payment—lets customers break down the cost of a purchase into a series of payments over time. The seller receives the entire payment upfront. |
| Capture | The process of capturing funds from a payment card for a completed transaction. It involves transferring funds from the cardholder’s account to the merchant’s account. | |
| Card Association | A network that facilitates the processing and settlement of payment transactions between merchants and card issuers. Examples include Visa, Mastercard and American Express. | |
| Card Issuer | The financial institution that issues payment cards to consumers. Examples include banks and credit unions. | |
| Card Network | A company that operates a payment card network, such as Visa or Mastercard. These networks facilitate the transfer of funds between card issuers and acquirers. | |
| Card Verification Value/Code | CVV/CV2/CVC | A three or four-digit code on a payment card used for additional security during transactions. It helps verify that the person making the payment is the actual cardholder. Either printed on the back of cards, encoded on the magnetic stripe or encoded on the chip. |
| Cardholder | The person who owns a payment card and is authorized to use it for transactions. The cardholder is responsible for making payments and keeping their account in good standing. | |
| Card-Not-Present Transaction | CNP | A payment transaction in which the cardholder is not physically present, such as an online or phone transaction. CNP transactions are considered higher risk and are subject to additional fraud prevention measures. Examples include transactions that occur via mobile app, web browser, mail or telephone. |
| Card-on-file | COF | A primary-account-number (PAN) and associated card data are stored by a merchant or wallet provider, to whom the cardholder has given permission to save their credentials for potential future transactions. The PAN may or may not be tokenized. Examples of common COF examples include streaming service subscriptions, gym memberships and frequently used e-commerce merchants. |
| Card-Present Transaction | CP | Transactions where a cardholder physically interacts with a point-of-sale (POS) payment terminal using their card or device (e.g. smartphone, wearable) for payment. Examples include contactless payments, swiping or inserting a debit card. CP transactions are generally considered lower risk than CNP transactions. |
| Chargeback | When a customer disputes a charge on their credit card statement, and the funds are returned to the customer. Chargebacks can be costly and damaging to a merchant’s reputation, so it’s important to have effective chargeback prevention measures in place. | |
| Chargeback Prevention | Strategies and tools used to reduce the likelihood of chargebacks, such as improving customer service, enhancing communication and implementing fraud detection measures. Effective chargeback prevention can help minimize financial losses and maintain customer trust. | |
| Chargeback Reason Code | A standardized code used to classify the reason for a chargeback. By understanding the specific reason for a chargeback, merchants can take appropriate measures to prevent future chargebacks and minimize the impact on their business. | |
| Clinical Trial Management System | CTMS | A specialized software used primarily in the biotechnology and pharmaceutical industries to manage clinical trials. |
| Closed Loop Cards | Card that can only be used at a specific retailer (i.e. Nike, Macy’s) | |
| Collection | The action of pulling the funds used for the disbursement from the payer’s bank account. | |
| Contactless Payment | A payment transaction that uses near-field communication (NFC) technology to allow a payment card to be waved or tapped near a payment terminal. Contactless payments provide a fast and convenient payment option, promoting customer satisfaction and reducing transaction times. | |
| Convolutional Neural Network | CNN | Type of ANN particularly effective for image recognition |
| Cryptocurrency | A form of digital currency that uses encryption techniques for security and operates independently of a central bank. Accepting cryptocurrency as a payment option can offer customers more flexibility and provide merchants with new revenue streams. | |
| Currency Conversion | The process of converting one currency to another, typically for international transactions. Offering currency conversion services can provide customers with a seamless payment experience and help merchants expand their global reach. | |
| Customer Identification Process | CIP | The process of verifying a customer’s (client or end-recipient/cardholder) identity via a documentary upload and other steps. |
| Customer Relationship Management | CRM | A system for managing a company’s interactions with current and potential customers, aimed at improving relationships to grow the business. |
| Debit Card | A payment card that allows the cardholder to spend funds they already have in their bank account. Accepting debit cards as a payment option can offer customers more flexibility and convenience and help reduce transaction fees for merchants. | |
| Deep Learning | DL | Subset of ML using neural networks with many layers |
| Digital Wallet | A virtual storage space for payment card information, used for making online and mobile payments. E.G. Apple Pay, Google Pay, Samsung Pay. Accepting digital wallets as a payment option can provide customers with a secure and convenient payment method and help merchants stay competitive in the digital age. | |
| Disburse Clinical Trials | Disburse CT | Specially designed integration package for Clinical Trial Management Service providers, enabling payouts for site administrators, for a variety of campaigns and trials, via digital and physical inventory. |
| Disburse General | Dash’s standard integration package for a single Payer, to disburse funds via dashDisburse solutions including physical and digital delivery models. | |
| Disburse International | For Payers sending funds to Payees outside the US, where Payer has collected the destination account details for each Payee. | |
| Disbursement / Disburse | The action of sending the money to a payee. | |
| Discount Rate | The fee charged by a merchant services provider to a merchant for processing payment transactions. Understanding discount rates and negotiating favorable terms can help merchants reduce payment processing costs and improve profitability. | |
| Dispute | A disagreement between a merchant and a customer over a payment transaction. Effective dispute resolution can help maintain customer trust and prevent financial losses for merchants. See Reg E in the regulatory information for more info on how Dash is responsible for disputes on paycards and GPR products. | |
| Distributed Ledger Technology | DLT | The technological infrastructure and protocols that allow simultaneous access, validation, and record updating across a networked database. |
| Dual Interface Cards | A credit or debit card with a single embedded chip that allows the card to be used in both contact and contactless transactions. The chip works in traditional physical EMV readers abut also has radio technology that allows for no-contact use. | |
| Due Diligence | DD | Evaluation and investigation of a potential investment, business, or individual before making a decision. It involves gathering and verifying information on a potential client, including but not limited to: TIN, Legal Status, Benefital Ownership Structure, & Funding Account information. |
| Earned Wage Access | EWA | Also known as on-demand pay, allows employeess to access a portion of their earned wages as soon as they end their work day |
| Effective Date | The date a payment will be available to a Payee. | |
| Electronic Funds Transfer | EFT | The transfer of money from one bank account to another via computer-based systems, either within a single financial institution or across multiple institutions. |
| Embedded Pay | Dash’s API package for embedded financial services providers and PEO‘s to where paycards can be ordered and loaded from within your third-party application, either on behalf of employers or for enabling employers to interact with Dash through your application. | |
| Emulator | A tool that emulates Dash’s API request and responses to showcase the format/info in responses, call flow, and overall capabilities without the need for a full client integration. | |
| Encryption Key | A unique code used to encrypt and decrypt sensitive data, such as payment card information, to ensure that it can only be accessed by authorized parties. | |
| Enhanced Due Diligence | EDD | An advanced risk assessment process that involves gathering and analyzing information about high-risk customers or business relationships to identify and mitigate potential financial crimes. |
| Entrepreneurial Operating System | EOS | EOS stands for Entrepreneurial Operating System. This is framework designed to help entrepreneurs accomplish their goals by utilizing tolls and tactics to keep company and everyone in it on the right path. |
| Escheatment | Abandoned account funds that financial institutions turn over to the state. Original owners can still claim the money from the state. Applies to payroll funds, issuing banks receive a Fall and Spring escheatment file. Dash uploads funds and returns to the bank, who will then returns to the originating state. A paycard product feature – we handle escheatment for our clients, they do not have to worry with uncashed checks. | |
| Europay, MasterCard, Visa | EMV | A global standard for payment cards with embedded microprocessor chips, providing enhanced security features such as encryption and authentication to reduce the risk of fraud and protect sensitive payment information. The acronym stands for Europay, MasterCard and Visa. It’s internal lingo for chip technology in the plastics. |
| Financial Crime Enforcement Network | FinCEN | A bureau within the United States Department of the Treasury. Its primary mission is to combat money laundering, terrorist financing, and other financial crimes by collecting, analyzing, and disseminating financial intelligence. |
| Financial Services Authority | FSA | The former agency that regulated financial services in the United Kingdom between 2001 and 2013, now replaced by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). |
| Financial Technology | FinTech | Technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. |
| Fraud Detection | The process of identifying and preventing fraudulent transactions using advanced algorithms and machine learning techniques to detect suspicious patterns and behaviors. | |
| Fulfillment Partner | A card fulfillment partner is responsible for creating physical cards and the supporting materials that come with them (such as terms and conditions, a welcome letter, etc.), as well as providing the embedded EMV chips and/or mag stripes and contactless technology (think tap to pay) in the physical card. | |
| General Data Protection Regulation | GDPR | A legal framework that sets guidelines for the collection and processing of personal information from individuals who live in the European Union (EU). |
| Generative Adversarial Network | GAN | Two neural networks competing to improve each other’s performance |
| Global Payment Innovation | GPI | An initiative by SWIFT to improve the speed, transparency, and traceability of cross-border payments. |
| Groomed/Grooming | tech team adds necessary technical details in order to properly fulfill story (would call this refinement). story pointing is only done by tech team. should not be in sprint if there are no story points (seems like sometimes, they’re pointed in-sprint anyway) | |
| Human Resource Information System | HRIS | A software solution used to manage and streamline various HR functions within an organization. Some key aspects include: Employee data management, payroll and benefits, time and attendance, performance management, and more. |
| Identity Verification | Identity verification is the process of confirming a person’s identity for security and fraud prevention purposes. This process can include verifying personal information, such as name, address, and social security number, as well as verifying identity documents, such as driver’s licenses or passports. | |
| Interchange Fee | Transaction fees that the merchant’s bank account must pay whenever a customer uses a credit/debit card to make a purchase. The fees are paid to the card-issuing bank to cover handling costs, fraud and bad debt costs and the risk involvedin approving the payment. This fee is typically a percentage of the transaction amount and is set by the card networks, such as Visa or Mastercard. | |
| International ACH | iACH | A cross-border transfer service that enables electronic payments to be sent to beneficiaries in their local currency |
| International Bank Aaccount Number | IBAN | A standardized international numbering system used to identify bank accounts across national borders. An IBAN consists of up to 34 alphanumeric characters, including: A two-letter country code, Two check digits, A Basic Bank Account Number (BBAN), which includes the domestic bank account number, branch identifier, and potential routing information. |
| International Financial Reporting Standards | IFRS | A set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to make financial statements consistent, transparent, and comparable across the globe. |
| Issuances | On Motivate, program participants generally earn rewards that are “issued” to their account; they can then “redeem” for a gift card of their choosing. For most programs, we charge fees based on awards “issued” (not redeemed) and is the primary revenue driver | |
| Issuer / Issuing Bank | An issuer is a bank or financial institution that issues payment cards to customers. The issuer is responsible for managing the customer’s account, setting program limits and processing transactions. Can also be referred to as the ODFI – originating depository financial instituion. They make money through transaction fees, account fees, and itnerest on credit cards. | |
| Issuer Identification Number | IIN | The issuer identification number (IIN) is the first six digits of a payment card used to identify the card issuer. This number is important for merchants to identify which payment network is being used for the transaction. |
| Know Your Customer | KYC | The proccess of verifying the identity of customers for security and compliance purposes. This process can include verifying personal information, such as name, address and social security number, as well as verifying identity documents, such as driver’s licenses or passports. |
| Load | A load refers to the amount of money being sent or credited to any of our accounts | |
| Long Short-Term Memory | LSTM | Type of RNN capable of learning long-term dependencies |
| Machine Learning | ML | Algorithms that allow computers to learn from data |
| Master Services Agreement | MSA | A contract between two parties that outlines the terms and conditions that will govern future transactions or agreements. It sets the general framework for the relationship, including responsibilities, payment terms, dispute resolution, confidentiality, and other key provisions. The MSA is designed to streamline the process of negotiating individual contracts by establishing a consistent set of terms that apply to all future work or services provided under the agreement. |
| Merchant Acquirer | MA | A financial institution or bank that processes credit and debit card payments on behalf of a merchant. |
| Merchant Category Code | MCC | A four-digit code that payment card networks assign to merchants based on the type of goods or services they offer. MCC codes are used to identify and track the types of transactions made by cardholders, and they are important for fraud detection, risk management and marketing analysis. |
| Merchant Identification Number | MID | A unique identifier that payment processors assign to merchants for payment processing purposes. MIDs are used to track and reconcile transactions, and they help payment processors ensure that merchants receive the funds they are owed. |
| Mobile Banking | A service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device. | |
| Mobile Payment | A payment transaction that is completed using a mobile device, such as a smartphone or tablet. Mobile payments can be made through a variety of channels, including mobile apps, mobile wallets and mobile point-of-sale systems. | |
| Mobile Wallet | A digital wallet that allows consumers to store and use payment information on their mobile devices. Mobile wallets can be used to make payments in-store, online or through mobile apps. They are typically linked to a bank account or credit card. | |
| Monthly Recurring Revenue | MRR | Monthly software fees charged to clients to access the Motivate platform. Generally also includes basic servicing. |
| Natural Language Processing | NLP | AI’s ability to understand and generate human language |
| Near Field Communication | NFC | Near Field Communication, a technology that allows for contactless payment transactions. NFC is used in mobile payment systems and other contactless payment methods, such as contactless credit cards. It allows for fast and convenient payments without the need for physical contact between the payment device and the reader. |
| Near Real-Time Payments | NRTP | Payment systems that allow for the immediate or near-immediate transfer of funds between accounts. |
| Net Revenue | The aggregation of all sources of revenue for a program (issuance fees, breakage, MRR where applicable, etc) | |
| Non-reloadable | an account that can only accept a value load of funds one time. also referred to as single-load. mostly used in the rewards / gift space. | |
| One-Time Password | OTP | A unique code generated for a single-use authentication during a payment transaction. OTPs are typically sent to the user’s mobile device or email address and are used to verify the user’s identity before allowing the transaction to proceed. |
| Online Payment Gateway | OPG | A service that authorizes and processes payments for online retailers and e-commerce sites. |
| Online Reference System | ORLS | A digital platform used for managing and accessing references and citations. |
| Open Banking | A financial practice that allows third-party financial service providers to access consumer banking, transaction, and other financial data through the use of APIs. This access is granted with the customer’s consent and aims to foster greater financial transparency, innovation, and competition in the banking industry. | |
| Open Loop Cards | General purpose card that can be used anywhere that brand (i.e. VISA, MC) is accepted | |
| Pathward Bank | PW | Formerly MetaBank, Pathward is the main sponsor bank for all prepaid card activity and hosts client funding account and various modality issuance FBO accounts. |
| Payment Aggregator | PA | A service provider that allows merchants to process payments without having to set up a merchant account with a bank. |
| Payment API | A set of programming instructions that allow third-party developers to integrate payment processing into their applications. Payment APIs are used to connect applications to payment gateways and enable them to accept payments inside the application. | |
| Payment Card | A plastic card that allows the cardholder to make purchases from a credit, a debit or prepaid account. Payment cards are widely accepted globally. | |
| Payment Card Industry Data Security Standard | PCI DSS | The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards established by the payment card industry to protect cardholder data. PCI DSS provides a framework for ensuring the security of payment transactions, including requirements for secure storage and transmission of payment information, regular security audits and employee training. |
| Payment Gateway | A merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses. | |
| Payment Initiation Service Provider | PISP | A third-party service provider that initiates online payments on behalf of the consumer. |
| Payment Modalities / Payment Types | The type of payment option available to send/receive funds. Payment modalities are specified in the chart below. | |
| Payment Service Provider | PSP | A third-party company that provides payment processing services to merchants. |
| Payment Tokenization | Payment tokenization is the process of replacing sensitive payment card information with a unique identifier called a token. This token can be used to authorize payment transactions without exposing sensitive payment information, reducing the risk of fraud and improving security. Payment tokenization is becoming an increasingly popular method of securing payment transactions. | |
| Payor Services Agreement | PSA | A legal agreement that defines the services to be performed, the compensation, the timeline, and what happens if the scope changes |
| Point of Sale | POS | The physical location where a payment transaction takes place, typically a retail store or restaurant. POS systems typically include hardware such as a cash register or card reader, as well as software for processing payments, managing inventory and generating reports. |
| Pre-Authorization | Pre-authorization is the process of obtaining approval for a payment transaction before the goods or services are delivered. Pre-authorization is commonly used in industries such as hospitality and travel, where customers may book a reservation or hold a room before paying for the service. Pre-authorization helps to ensure that merchants receive payment for their goods or services, while also reducing risk. | |
| Prepaid Card | A payment card that has a pre-loaded balance of funds for use in future transactions. Prepaid cards are a popular alternative to traditional credit or debit cards, particularly for consumers who do not have access to traditional banking services. | |
| Primary Account Number | PAN | A primary account number (PAN) is the series of digits – typically 16 digits, by which can vary from 12 to 19 umbers long – embossed on the front of a credit, debit, or prepaid card. |
| Processing Fee | A fee charged by a payment processor or merchant services provider for processing a payment transaction. The fee typically covers the cost of providing the infrastructure and services required to facilitate the transaction, such as authorization, fraud protection and settlement. | |
| Processor | A company that processes payment transactions on behalf of merchants, card issuers and acquirers. The processor acts as an intermediary between the parties involved in the transaction, handling tasks such as authorization, settlement and risk management. | |
| Product Requirements Document | PRD | Generally, this means a document outlines the necessary features, functionalities, and specifications of a product that is being developed. Specific to Sunrise implementation, this is the document we are submitting as Dash to implement new BINs and Issuing Banks. |
| Program Manager | Establishes relationships and ties together all key partners to facilitate a payments program on behalf of a business. In addition to owning the relationship with the bank, a program manager is responsible for developing compliant marketing materials, choosing the payment network, facilitating account opening and funds flow, fraud mitigation, and compliance requirements and ensuring a streamlined end-user (accountholder) customer experience while transacting in the market. | |
| Provisioning | Provisioning is the process whereby a payment service provider (token requester) asks for a token to be created for a PAN. | |
| Proxy Number | Unique, non-sensitive 13-digit identifier of a card account. This number is generated at the same time as the account creation and is used to talk about the account. It is not a sensitive number, like the card or account number is, so it can be emailed around, etc. We use proxy numbers to fund cards via API, as it is safer to transmit. | |
| Push-to-Card | Also known as Push to Debit or Push Payment, using card networks like Visa or Mastercard, allowing for real-time disbursement to recipients’ account, typically via their debit card. Reloadable prepaid cards can utilize push to card in some cases as well as credit cards but both are far less common. | |
| Real-Time Payments (RTP) | RTP | A payment system that allows for instant transfer of funds between bank accounts. The system is designed to provide a faster, more efficient way for individuals and businesses to transfer funds, with transactions typically settling within seconds. |
| Recurrent Neural Network | RNN | Type of ANN where connections form directed cycles |
| Recurring Payment | A payment that is processed on a regular schedule, such as a subscription or loan installment payment. The payment is typically made using the same payment method and amount, with the frequency and duration of the payments determined by the agreement between the parties involved. | |
| Redemption | On Motivate, program participants generally earn rewards that are “issued” to their account; they can then “redeem” for a gift card of their choosing. For most programs, we charge fees based on awards “issued” (not redeemed) and is the primary revenue driver | |
| Reinforcement Learning | RL | Learning by interacting with an environment to maximize rewards |
| Reloadable | An account that can accept recurring value loads of funds on any schedule | |
| Reversal | A type of transaction that cancels a previously authorized payment. This can happen when a payment was made in error, or when a customer disputes a charge. Reversals can be initiated by the merchant, the customer or the issuing bank, and the funds are typically returned to the customer’s account within a few business days. | |
| Reward Non-Reloadable | Dash’s standard integration package for a single Payer, to distribute rewards for a single Payee recipient. | |
| Reward Reloadable | Dash’s standard integration package for a Payer with reloadable capability. | |
| Risk Management | Assessing and managing the risk of fraudulent or unauthorized payment transactions. This involves implementing various security measures and fraud prevention tools to minimize the risk of fraudulent activities. Risk management is critical for protecting both merchants and consumers, as it helps to prevent financial losses and protect sensitive data. | |
| Rocks | Quarterly Rocks are the 3-7 most important things your company, department, or team must complete within the next 90 days. | |
| Sales Development Resource | SDR | Also known as a Sales Development Representative, is a key player in a sales team. Their primary role is to identify and qualify potential leads or prospects for a company’s product or service. |
| Secure Electronic Transaction | SET | A protocol for securing online payment transactions using digital certificates. It provides a secure way for consumers to make payments online. SET encrypts payment information during transmission to prevent unauthorized access and uses digital certificates to verify the identity of both the consumer and the merchant. |
| Secure File Transfer Protocol | SFTP | A network protocol that provides secure file transfer and management over a reliable data stream. It uses SSH (Secure Shell) to encrypt both the commands and the data, ensuring secure transmission between the client and server. SFTP is used for Dash clients to securely transmit order information to Dash and for Dash to send files securely to clients. |
| Secure Sockets Layer | SSL | A standard security technology for establishing an encrypted link between a server and a client, typically a web server and a browser. |
| Settlement | The process of transferring funds between parties involved in a transaction. In the context of payments processing, settlement refers to the process of transferring funds from the acquiring bank to the merchant’s bank account. | |
| Softward Development Kit | SDK | A collection of software tools, libraries, documentation, and code samples that developers use to create applications for specific platforms or frameworks. SDKs provide the necessary components to build and integrate software applications, making development more efficient and standardized. |
| Software as a Service | SaaS | A software distribution model in which applications are hosted by a service provider and made available to customers over the internet. |
| Spend Embedded | Dash’s API package for embedded financial services providers, accounting software, and others, where expense management via dashSpend can be included in the application for your clients. | |
| Spend Standard | Dash’s integration package for individual companies, non-profits, or other organizations to order and load expense management cards. | |
| Split Payment | A transaction where a single payment is split between two or more recipients. This can occur when multiple merchants are involved in a single transaction, or when a customer wants to split the cost of a purchase with another person. | |
| Statement of Work | SOW | A formal document that outlines the specific tasks, deliverables, timelines, and expectations for a project or contract. It details the scope of work to be performed, the responsibilities of the parties involved, and the criteria for acceptance. An SOW is often used in contract agreements to ensure all parties have a clear understanding of the project’s requirements and objectives. |
| Standard Pay | Dash’s standard integration package for individual employers to pay their employees. | |
| Stored Value Card / Prepaid Card | SVC | A payment card that is loaded with funds in advance. These cards can be used to make purchases until the funds on the card have been depleted. Just another name for the same thing. |
| Structured Query Language | SQL | A standardized programming language used for managing and manipulating databases. |
| Tokenization | Payment tokenization is a security technique that replaces sensitive payment information, such as credit card numbers, with a unique, random set of characters called a “token”. This helps to protect the customer’s data by reducing the number of places where it is stored and transmitted. | |
| Transaction Fee | A charge levied by a payment processor or merchant services provider for processing a payment transaction. The fee may be a fixed amount or a percentage of the transaction value, or both, and is intended to cover the costs of processing the payment, including network fees, fraud prevention and other expenses. | |
| Transaction Monitoring System | TMS | A system used by financial institutions to monitor customer transactions for suspicious activity that may indicate money laundering or other financial crimes. |
| Two-Factor Authentication/Multi-Factor Authentication | 2FA/MFA | A security process in which the user provides two different authentication factors to verify themselves. Also called MFA or Multi-factor authentication. |
| Unified Payments Interface | UPI | A real-time payment system developed by the National Payments Corporation of India (NPCI) that facilitates inter-bank transactions. |
| Verified by Visa | A security protocol for online payment transactions that requires additional authentication steps to reduce fraud. When a customer makes a purchase online with a Visa card, they may be prompted to enter a password or provide additional identification information to verify their identity. | |
| Virtual card | A primary account number that is provided to a customer and is intended to be used when making digital transactions. This can be used against an account that may or may not have a separate physical debit card associated with it. | |
| Wire Transfer | A method of electronically transferring funds between bank accounts. This type of payment can be initiated by an individual or a business and is commonly used for large transactions or cross-border payments. Wire transfers are considered one of the fastest and most secure payment methods. | |
| Zero Liability Protection | A feature offered by some payment card issuers that limits the liability of the cardholder in case of fraudulent transactions. This means that the cardholder will not be responsible for unauthorized charges made with their card. Zero liability protection provides an added layer of security for consumers. |