Getting to grips with the card payment industry can be difficult when you are also trying to run a business, and you may enounter words, terms and phrases that are hard to understand.
Our jargon buster helps to explain what many of these terms mean in order to enable you to make an informed choice about the products and services that could help your business.
An acquiring bank (also known simply as an acquirer) is a bank or financial institution that processes credit or debit card payments on behalf of a merchant. The acquirer allows merchants to accept credit card payments from the card-issuing banks within an association.
Card Saver works with the following acquiring banks: AIB, First Data, Borgun, and Evo
Allied Irish Banks, p.l.c. is one of the ‘Big Four’ commercial banks in Ireland. AIB offers a full range of personal and corporate banking services.
First Data is a payment solutions company which offers credit card processing and point of sale (POS) options. Based in the US and with over 20 years experience in the UK market makes it a well-established merchant services provider.
With over 35 years of experience in the issuing and acquiring sector Borgun have a comprehensive range of expertise in the processing and settlement of card payments.
Evo Payments has over 30 years global experience and process more then $80 billion in payments each year making them an invaluable partner in the card payment processing industry.
Often referred too as a ‘static terminal’ or ‘fixed-line’. A desktop terminal is usually a single terminal located at your main checkout or till location.
E-commerce is a general term relating to purchasing of goods or services usually online through a website or app. We offer an ‘e-commerce payment gateway’ which allows you to take secure payments online.
An ‘Electronic Point of Sale’ is a digital point of sale machine, often accompanied by a card machine. Giving you a plethora of accounting, stock and management software taking care of historically manual tasks relating to your everyday business.
GPRS refers to a mobile network enabled terminal that connects using available 3G/4G networks (similar to a mobile phone) allowing you to take payments on the go.
A Wi-Fi terminal connects to your available broadband connection allowing you to use your terminal around your business, taking payments to your customers.
A ‘Merchant Management System’ is an online portal that allows you to manage all the payments taken through your terminal, see breakdowns, settlements and exports.
We are an ‘Independent Sales Organisation’ meaning we hold an ‘ISO 9001’ certification. The standard is used by organizations to demonstrate their ability to consistently provide products and services that meet customer and regulatory requirements and to demonstrate continuous improvement
You can check out our dedicated section to PCI-DSS compliance here: https://www.card-saver.co.uk/pci-compliance/
Card Saver is authorised and regulated by the Financial Conduct Authority (659179). The FCA regulates and supervises the conduct of more than 50,000 firms in the UK that provide financial products and services to both UK and international customers.
Need help? Talk to our team
If you have any questions about our products or need assistance as a customer, then you can talk to our team!