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

A virtual credit card is a digital version of a physical credit card, 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 securely transmits payment information in encrypted form between an 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 authorizing transactions.

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

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

Authorization 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 in 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 in which 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 line of credit. Purchases are accumulated and billed at the end of the month or in installments.

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

The IBAN (International Bank Account Number) is a standardized account number that uniquely identifies bank accounts worldwide and is used for national 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 procedure that combines at least two independent factors for identity verification — e.g., password plus SMS code or fingerprint.

E-commerce (electronic commerce) refers to the buying and selling 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 developed by Europay, Mastercard and Visa, which 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 must comply with if they process, store, or transmit card data.

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

SEPA (Single Euro Payments Area) is a unified euro payment area that standardises bank 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 authorized subsequent transactions.

A PSP (Payment Service Provider) is a payment 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 — 24 hours a day, 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 sector.

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

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

Payment authentication refers to verifying the identity of the payer 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 authorization to credit — without any time delay.

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

Card payment systems 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 near an NFC-enabled terminal — fast, secure, and without a PIN for small amounts.

Digital wallets store payment information on smartphones and enable payments online and in person — 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 tokenization to PCI-DSS compliance.

The online payment process includes all steps from selecting the payment method in the checkout to payment confirmation — including authorization, 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 (Swiss Financial Market Supervisory Authority) is the independent supervisory authority that oversees 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 starting a business relationship.

The AMLA (Federal Act on Combating Money Laundering and Terrorist Financing) 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-Comerciante is a seller or Comerciante who receives payments through a platform or marketplace — without needing their own contract with the acquirer or PSP.

The Comerciante 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 Comerciante towards the acquirer and enables sub-Comerciantes to accept electronic payments — without each sub-Comerciante needing 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 of matching incoming payments automatically or manually with outstanding invoices, orders, or receivables.

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

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

Purchase on account 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 lump sum or in instalments. Well-known providers include Klarna, TWINT Später bezahlen and PayPal Pay Later.

eBill is the Swiss standard for electronic invoices directly in e-banking. Biller transmit the invoice digitally, recipients review and pay with a single click — without scanning QR codes or manual entry.

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

A debit card charges the cardholder's bank account immediately at the time of payment — unlike a credit card, where billing occurs 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.