Glossary

Payment Glossary – Understanding Payments, Simplified

In the fast evolving world of payments, jargon can get in the way of making smart business decisions. Our Payments Glossary is designed to cut through the complexity, offering straightforward explanations of key terms in payments, banking, and fintech. From transaction flows and reconciliation to payment methods and compliance, each entry is crafted with a business-first perspective. Whether you manage high transaction volumes, multiple sales channels, or complex settlements, this glossary helps you understand what’s happening behind the scenes so you can make informed decisions faster.

Acquirer

BNPL (Buy Now Pay Later)

Capture

Card Networks

Chargeback

Digital Collections Platform

Digital Payments

Drop-off Rate

EMI (Equated Monthly Installment)

Escrow Account

IMPS, NEFT, and RTGS

Instant Reconciliation

Issuer

Issuer Bank

KYC

Merchant Discount Rate (MDR)

Merchant Onboarding

NPCI (National Payments Corporation of India)

Offer Engine

Omnichannel Collections

Omnichannel Payments

Payment Authorization

Payment Gateway

Payment Link

Payment Reconciliation

PCI DSS

QR Payments

RBI Payment Aggregator Regulations

Smart Routing

Split Settlement

Sub-Merchant

T+0 or T+1 Settlement

Tech service provider (Payment Technology Provider)

Two-Factor Authentication (2FA)

UPI (Unified Payments Interface)

UPI AutoPay

UPI Collect Request

WhatsApp Commerce