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Payment vocabulary Cheat Sheet (DRAFT) by

This is a draft cheat sheet. It is a work in progress and is not finished yet.

Rails Architect Master­Class, Payment vocabulary

ACQUIRER
An entity (company) that is respon­sible for processing and settling payments, also pays out earned money to merchants
PAYMENT SERVICE PROVIDER (PSP), PAYMENT GATEWAY
An entity (company) that provides the ability to accept payments for merchants by offering API access and/or web interface
MERCHANT
An entity (company) that accepts payments in exchange for some goods or services
CARDHOLDER
An end-cu­stomer that uses their card to pay for some goods or services
ISSUER
An entity that issues a card to a cardholder

Rails Architect Master­Class, Payment vocabulary (c

ACQUIRER
An entity (company) that is respon­sible for processing and settling payments, also pays out earned money to merchants
PAYMENT SERVICE PROVIDER (PSP), PAYMENT GATEWAY
An entity (company) that provides the ability to accept payments for merchants by offering API access and/or web interface
MERCHANT
An entity (company) that accepts payments in exchange for some goods or services
CARDHOLDER
An end-cu­stomer that uses their card to pay for some goods or services
ISSUER
An entity that issues a card to a cardholder