Vocabulary

A glossary of key payment terms and terms specific to Number

Payment terms

A general list of terms specific to the payment industry.

A

• Authorizing payments: The process of verifying cardholder information and checking funds to securely approve transactions.

C

• Card present: Transactions where the physical card is present during the payment process, typically requiring a card reader.

• Consent: Permission granted by the customer to store their card information for future transactions.

• Crediting (refunds): The return of funds to a customer's account after a transaction has been completed, typically occurring when a product is returned or a charge is disputed.

I

• ISVs (Independent Software Vendors): Companies that develop software applications that may integrate with payment processing services.

M

• Manual entry (card not-present): The process of accepting payments by manually entering card details.

• Merchants: Businesses or individuals that sell goods or services and accept payments from customers.

P

• PayFac (Payment Facilitator): A service provider that allows merchants to accept payments without needing to establish a direct relationship with a payment processor.

• Payment processor: A company that handles transactions between the merchant and the customer's bank, facilitating payment processing.

R

• Recurring payments (payment plans): Automated scheduling of regular payments over time, ideal for subscriptions or installment plans.

• Reporting: The generation of summaries and analyses of transaction data to help merchants track financial activities and manage cash flow.

S

• SaaS providers: Companies that offer software solutions delivered over the Internet, often including payment processing functionalities.

• Settlements: The finalization of a transaction by transferring funds from the buyer to the seller.

• Store card on file: The secure storage of a customer's card details for future transactions, often requiring annual consent.

• Surcharge payments: An extra fee added to the transaction amount by businesses.

V

• Verifone: A brand of payment terminals and devices used for processing card present transactions.

• Void (reversal): This act will cancel a previously approved authorization prior to nightly settlement

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Number terms

A list of terms specific to Number services or other terms in context of Number services..

A

• Account code: The unique key which represents your Number account. This code will never change throughout the life of your account. Each Account Code is 2 letters and 7 numbers.

C

• Client Admin Portal: A web interface for managing Virtual Terminal users and API tokens, allowing administrators to create, modify, and remove user accounts while ensuring secure access through two-factor authentication.

L

• Lockouts: A lock caused by entering incorrect password or username 6 times in a row when attempting to authenticate. Depending on the source and type of the lockout, a single Virtual Terminal user might be locked out or everyone in your office.

M

• MID (Merchant ID): Each Number account can support multiple merchant records, each with their unique identifier. Each record can be a separate location center which will generate a separate daily settlement report.

P

• PayForm: A modern tool for securely collecting cardholder data, allowing customization and real-time updates to your system.

S

• Session key: A unique key used for authentication in API calls. This key is generated upon successful authentication and must be included in all subsequent requests.

T

• Token: A 32-characater hexadecimal string generated from the Client Admin Portal which acts as a password when authenticating to our APIs. Tokens expire after a 2 year period and can be renewed from the Client Admin Portal.

V

• Virtual Terminal: A web application that provides various credit card processing functionalities, including authorizations, voids, credits, and reporting.

W

• Widget 3DES encryption key: Encryption key used in conjunction with 3DES cryptography to encrypt data for use in our web widgets. Each integrator is assigned a unique key and an index.

• Widget AES encryption key: Encryption key used in conjunction with AES cryptography to encrypt data for use in our web widgets. Each integrator is assigned a unique key and an index.