iGaming Payments Glossary

An authentication protocol that adds an extra layer of verification for online card transactions, requiring the cardholder to confirm their identity with their issuing bank.

A bank or financial institution that processes card payments on behalf of a merchant.

Any payment method other than a traditional credit or debit card.

A set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.

A set of defined rules that allows two software systems to communicate with each other.

The percentage of payment attempts that are successfully authorised.

A type of fraud in which a criminal gains access to a player's account and withdraws funds or makes deposits using stored payment methods.

The process by which a card issuer approves or declines a payment transaction in real time.

A model in which licensed banks provide their banking infrastructure to non-bank businesses via APIs.

The first 6 to 8 digits of a payment card number that identify the issuing bank and card type.

A Polish mobile payment standard that generates one-time 6-digit codes for online transactions.

The process of completing an authorised transaction and initiating the transfer of funds from the cardholder to the merchant.

A payment network that sets the rules and infrastructure for card transactions between issuers and acquirers.

The automatic retry of a declined transaction through a different acquirer or payment provider.

The process of verifying a customer's identity and assessing their risk profile before and during a business relationship.

A forced reversal of a payment transaction, initiated by the cardholder's bank at the cardholder's request.

The percentage of transactions in a given month that result in chargebacks.

The process of transmitting, reconciling, and confirming payment data between the acquirer and issuer following authorisation.

Fraudulent transactions made using stolen card details without the physical card being present.

A mandatory regulatory report filed when a customer conducts a cash transaction above a defined threshold.

A 3 or 4 digit security code printed on a payment card, used to verify the cardholder has physical possession of the card.

A service that allows cardholders to pay in their home currency rather than the merchant's currency at point of sale.

The percentage of payment attempts that are rejected by the acquirer or issuing bank.

A fraud prevention technique that collects data points about a user's device to create a unique identifier.

A more thorough level of customer due diligence applied to high-risk customers or transactions.

A regulated entity licensed to issue electronic money and provide payment services, without holding a full banking licence.

A global standard for chip-based credit, debit, and prepaid cards, named after its original developers Europay, Mastercard, and Visa.

Automatic switching to a backup payment provider when the primary provider becomes unavailable or unresponsive.

The UK's financial services regulator, responsible for overseeing payment firms, e-money institutions, and financial markets.

A chargeback filed by a legitimate cardholder who did make the original transaction, often claiming they didn't recognise it or didn't receive what they paid for.

The conversion of one currency into another, and the rate at which that conversion occurs.

Technology that transmits payment data from a merchant's website or app to the acquiring bank for processing.

Total player bets minus total player winnings, before deducting operating costs.

A permanent transaction decline indicating the payment should not be retried.

A business category that payment processors and acquirers consider to carry elevated financial, legal, or reputational risk.

A payment form hosted on the PSP's servers rather than the merchant's, to which the customer is redirected to complete payment.

A standardised international numbering system for bank accounts, used to identify accounts for international transfers.

A Dutch bank-transfer payment method that allows customers to pay directly from their bank account in real time.

The process of confirming that a customer is who they claim to be, typically through document checks and biometric verification.

A fee paid by the merchant's acquiring bank to the cardholder's issuing bank for processing a card transaction.

The bank or financial institution that issues payment cards to consumers and extends credit or debit facilities.

Due diligence carried out on a business entity to verify its identity, ownership, and legitimacy before entering a commercial relationship.

The process of verifying a customer's identity and assessing their risk before and during a business relationship.

Real-time monitoring of individual transactions to detect suspicious patterns or potential money laundering.

A change in who bears financial responsibility for fraudulent transactions, typically shifting from the merchant to the issuing bank when strong authentication is used.

A payment method that is widely used within a specific country or region but not globally available.

A mobile money service launched by Safaricom in Kenya that allows users to store, send, and receive money via mobile phone.

A four-digit number assigned by card schemes to classify a merchant's type of business.

The total fee a merchant pays to their acquirer for processing card transactions, expressed as a percentage of transaction value.

A type of bank account that allows a business to accept card payments and hold funds before they are transferred to the business's main bank account.

The independent regulatory body responsible for the governance of all gaming activity in Malta.

The use of machine learning models to assign a fraud or risk score to a transaction in real time.

The replacement of a card's primary account number (PAN) with a unique digital token issued by the card scheme itself.

Gross Gaming Revenue minus bonuses, promotions, payment processing costs, and affiliate commissions.

Services that convert fiat currency (like GBP or EUR) into cryptocurrency (on-ramp) or cryptocurrency back into fiat (off-ramp).

A system that gives regulated third parties access to bank account data and payment initiation through secure APIs, with the customer's consent.

A company that has its own acquiring agreement with a card scheme and onboards merchants as sub-merchants under its master merchant account.

A technology layer that manages and optimises payment transactions across multiple PSPs, gateways, and acquirers from a single integration.

Payment Card Industry Data Security Standard — a set of security requirements for organisations that store, process, or transmit cardholder data.

An individual who holds or has held a prominent public function, such as a government official, judge, senior military officer, or their close family members.

Brazil's instant payment system, operated by the Central Bank of Brazil (BCB), enabling 24/7 real-time transfers between bank accounts.

An authorisation that reserves funds on a cardholder's account without immediately capturing them.

A company that provides merchants with the services and technology needed to accept electronic payments.

Payment systems that process transactions and transfer funds within seconds, available 24 hours a day, 7 days a week.

A merchant-initiated return of funds to a customer, distinct from a chargeback which is customer-initiated.

A set of policies, tools, and controls designed to reduce gambling-related harm and protect vulnerable players.

A numerical value assigned to a transaction or customer indicating the likelihood of fraud or financial crime.

A percentage of a merchant's processing volume held back by the acquirer as collateral against future chargebacks, released after a defined period.

A report filed with the relevant financial intelligence unit when a business suspects a customer is engaged in money laundering or other financial crime.

A set of tools, libraries, and documentation that allows developers to build applications that integrate with a specific platform or service.

A process by which a player voluntarily bans themselves from gambling, either at a specific operator or across multiple operators.

Single Euro Payments Area — an EU payment integration initiative enabling euro-denominated bank transfers across 36 participating countries.

The process by which funds from card transactions are transferred from the acquiring bank to the merchant's account.

Automated selection of the optimal payment provider or acquirer for each transaction based on defined rules or real-time performance data.

A temporary transaction decline that may succeed if retried, typically due to insufficient funds, a temporary hold, or system issues.

Evidence that establishes where a player's money originates from, used to verify it is from a legitimate source.

A cryptocurrency whose value is pegged to a stable asset, typically the US dollar or euro.

SWIFT is the global network for international bank communications; BIC (Bank Identifier Code) is the identifier used within that network.

The replacement of sensitive data (such as a card number) with a non-sensitive substitute (a token) that can be stored and used without exposing the original data.

The ongoing surveillance of customer transactions to detect patterns indicative of money laundering, fraud, or other financial crime.

The statutory body responsible for regulating commercial gambling in Great Britain.

India's real-time interbank payment system, managed by the National Payments Corporation of India (NPCI).

Fraud prevention rules that flag or block transactions when a customer, card, or account exceeds a defined number of transactions or transaction value within a set time period.

A unique IBAN assigned to a specific customer or purpose, which routes incoming funds to a master account while tracking the source.

The cancellation of an authorised transaction before it is captured and settled.

A mechanism that allows a payment provider to send real-time notifications to a merchant's server when a payment event occurs.

A payment service provider solution that can be rebranded and offered by another company as their own product.

An electronic transfer of funds between banks, typically used for large value or international payments.