The Bank Identification Number (BIN) is a unique combination of numbers that identifies credit card institutions and is used for online payments.

A virtual credit card is a digital version of a physical credit card that is used specifically for online payments.

A Comerciante is an actor in e-commerce who sells goods and services over the Internet. They use payment service providers to process transactions securely and efficiently.

A payment gateway is a technical interface that encrypts and transmits payment information between the online shop and the payment processor, and authorises the transaction.

An acquirer is a financial institution that processes card payments on behalf of the Comerciante and transfers the transaction amount to the Comerciante account.

An issuer is the bank or financial institution that issues a credit or debit card to the cardholder and is responsible for organising the authorisation of transactions.

A chargeback is the reversal of a card payment initiated by the cardholder or their bank — for example, in the case of fraud, non-delivery or incorrect debiting.

3D Secure is a security protocol for online card payments that requires an additional authentication of the cardholder — known as Visa Secure or Mastercard Identity Check.

Authorisation is the process by which the issuer approves or declines a card payment — based on account balance, credit limit, and security rules.

The BIC (Business Identifier Code) is an international bank code that uniquely identifies financial institutions worldwide — also known as a SWIFT code.

Checkout is the payment process in an online shop during which customers complete their order, select a payment method and initiate the payment.

The CVC (Card Verification Code) or CVV (Card Verification Value) is a 3- or 4-digit security code on credit and debit cards used for verification in online payments.

NFC (Near Field Communication) is a short-range wireless transmission technology that enables contactless payment with cards, smartphones and wearables.

Direct debit is a payment method where the payee collects the amount directly from the payer's bank account — with their consent.

A credit card is a means of payment that grants the cardholder a credit limit. Purchases are accumulated and billed at the end of the month or in instalments.

FinTech (Financial Technology) refers to companies that offer financial services using innovative technologies — from payment processing and lending to wealth management.

The IBAN (International Bank Account Number) is a standardised account number that uniquely identifies bank accounts worldwide and is used for domestic and international transfers.

ISO 20022 is an international standard for electronic data exchange in payment transactions, which forms the basis for QR-bills and CAMT messages in Switzerland.

Multi-factor authentication (MFA) is a security process that combines at least two independent factors for identity verification — e.g. a password plus an SMS code or a fingerprint.

E-commerce (electronic commerce) refers to the purchase and sale of goods and services over the internet — including all associated payment and logistics processes.

An e-wallet (digital wallet) is a software or app that stores payment information digitally and enables payments online or in-store — e.g. Apple Pay, Google Pay or TWINT.

EMV is a global security standard for chip cards and card terminals, which was developed by Europay, Mastercard and Visa and replaces the magnetic stripe as a security feature.

PCI DSS (Payment Card Industry Data Security Standard) is a security standard for protecting credit card data that all companies processing, storing or transmitting card data must comply with.

SSL (Secure Sockets Layer) and its successor TLS (Transport Layer Security) are encryption protocols that ensure secure data transmission between a browser and a server.

SEPA (Single Euro Payments Area) is a unified Euro payment area that standardises credit transfers, direct debits and card payments in 36 European countries.

POS (point of sale) refers to the physical location where a sales transaction takes place — as well as the card terminal that processes the payment on site.

Tokenisation replaces sensitive card data with a unique token — a random value that is worthless to fraudsters but can be used for authorised subsequent transactions.

A PSP (Payment Service Provider) is a payment service provider that offers Comerciantes the technical infrastructure and contracts for accepting electronic payments from a single source.

A payment order is the instruction to a bank or a payment provider to transfer a specific amount to a defined recipient IBAN.

Instant Payments are real-time payments where the amount is credited to the recipient's account within a few seconds — around the clock, 365 days a year.

Open Banking enables external providers to access banking data and initiate payments via standardised APIs — with the consent of the account holder.

Subscription payments (recurring payments) are automatic, regular charges for subscriptions — e.g. monthly, quarterly, or annually.

PSD2 is the European payment services directive that regulates open banking, strong customer authentication (SCA) and competition in the payment services market.

An online transaction is an electronic payment processed over the internet — from the impulse to buy in the webshop to the credit on the Comerciante account.

Payment methods are the different ways customers can pay — from credit cards and TWINT to purchase on invoice. Payment instrument is the specific tool (card, app, invoice).

Payment authentication refers to the verification of the payer's identity during a transaction — e.g. via PIN, fingerprint, SMS code or banking app.

Real-time processing refers to the immediate processing of a payment — from authorisation to credit — without any time delay.

A payment confirmation is the message to Comerciante and buyer that a transaction has been successfully authorised and processed.

Card payment schemes are the networks and infrastructures that process card payments between cardholders, Comerciantes, acquirers and issuers — e.g. Visa, Mastercard, AMEX.

Contactless payment enables payments by briefly holding the card, smartphone or smartwatch against an NFC-enabled terminal — fast, secure and without a PIN for small amounts.

Digital wallets store payment information on smartphones and enable online and in-store payments — e.g. Apple Pay, Google Pay, TWINT and PayPal.

Transaction fees are the costs that Comerciantes pay per electronic payment to their payment provider, the acquirer and the card network.

Payment information security includes all measures to protect sensitive payment data — from encryption and tokenisation to PCI DSS compliance.

The online payment process comprises all steps from selecting the payment method in the checkout to the payment confirmation — including authorisation, authentication and settlement.

Payment infrastructure refers to the entirety of all systems, networks and institutions that enable electronic payment transactions — from card networks to banks to PSPs.

FINMA (the Swiss Financial Market Supervisory Authority) is the independent supervisory authority that supervises banks, insurance companies, stock exchanges, and financial service providers — including payment service providers — in Switzerland.

KYC (Know Your Customer) refers to the identity verification of customers and business partners that financial service providers — including payment providers and marketplaces — must carry out before commencing business.

The AMLA (Anti-Money Laundering Act) is the Swiss anti-money laundering law and regulates the due diligence obligations of financial intermediaries — including payment service providers.

Split payment is the automatic division of a payment into several partial amounts — e.g. Comerciante share, platform commission, and fees — directly at the time of the transaction.

A sub-merchant is a seller or Comerciante who receives payments via a platform or marketplace — without needing their own contract with the acquirer or PSP.

The Merchant of Record (MoR) is the entity that acts as the seller to the payment network and bears the legal and financial responsibility for a transaction.

A Payment Facilitator (PayFac) is a company that acts as a master merchant towards the acquirer and enables sub-Merchants to accept electronic payments — without requiring each sub-Merchant to have their own acquiring contract.

Escrow is a payment model in which a neutral third party holds the buyer's payment until a defined condition is met — e.g. delivery of the goods or acceptance of the service.

Reconciliation is the process in which incoming payments are matched automatically or manually with open invoices, orders or receivables.

The QR-bill is the Swiss standard for invoices with a machine-readable QR code that contains all payment information and enables automatic payment reconciliation via IBAN or QR-IBAN.

TWINT is Switzerland's most widely used mobile payment app with over 5 million users. It enables payments online, in shops, via QR code and between private individuals — directly from the bank account.

Invoice purchase is a payment method where buyers receive the goods first and settle the amount within a payment period (typically 14–30 days) via bank transfer.

Buy Now Pay Later (BNPL) is a payment model in which buyers only pay the purchase amount after receiving the goods — in a single sum or in instalments. Well-known providers are Klarna, TWINT Pay later and PayPal Pay Later.

eBill is the Swiss standard for digital invoices sent directly to e-banking. Biller send the invoices digitally, while recipients check and pay them with a single click — without QR code scanning or manual entry.

White-label refers to a solution that a company offers under its own brand name, even though the technical infrastructure comes from an External provider — in-payment transactions, for example, a white-label PSP solution.

A debit card charges the cardholder's bank account immediately upon payment — unlike a credit card, which is billed at the end of the month.

PostFinance Pay is the online payment method of Swiss Post, allowing PostFinance account holders to pay directly from their e-banking — without a credit card.