The Card Payment jargon buster

The card payment industry is renowned for its prolific use of acronyms and technical jargon. If like many, you don't know your AML's from your API's then our  NetPay guide to acronym and jargon  may come in handy. As a quick reference we have listed the most commonly used acronyms below:

Data Security

AML - Anti Money Laundering
CDD - Customer Due Diligence
DSS - Data Security Standards
FCA - Financial Conduct Authority
GBPP - Global Brand Protection Programme
HTTPS - Hypertext Transfer Protocol
MPL - Merchant Potential Liability
PCI DSS - Payment Card Industry Data Security Standards
PCI PTS - Payment Card Payment Terminal Security
PEP - Politically Exposed Person
QSA - Qualified Security Advisor
ROC - Report on Compliance
SAQ - Self Assessment Questionnaire

Merchant Account

CHP - Cardholder Present
CNP - Cardholder not Present
ISO - Independent Sales Organisation
MCC - Merchant Category Code
MID - Merchant Identification
MMSC - Minimum Monthly Service Charge
PSP - Payment Service Providers
SMFP - Specific Merchant Fulfilment Period
TPPA - Third Party Payments Aggregation

Payments Jargon

API - Application Programming Interface
CAT - Cardholder Activated Terminal
CBA - Cross Border Acquiring
CV2 - Card Verification Value
EMV - Europay, MasterCard & Visa
EPOS - Electronic Point of Sale
GPRS - General Packet Radio Service
MOTO - Mail Order / Telephone Order
MRP - Maestro Recurring Payments
PAN - Primary Account Number
PWCB - Purchase with Cash Back.
TID - Terminal Identification
UI - User Interface
UPT - Unattended Payment Terminal

For the full list of acronyms and a more detailed explanation of the various terms used in the card payment industry, simply click through below.

NetPay Card Payment Jargon Buster

NetPay's Guide to Understanding the Jargon and Acronyms