SEPA (Single Euro Payments Area) is a European initiative that standardizes euro payments across 36 countries, enabling seamless bank transfers, direct debits, and card payments within the region.

Open banking is a financial practice that allows third-party providers to access bank account information and payment services through secure APIs, enabling innovative financial products and services.

A credit note is a document issued by a seller to a buyer that reduces the amount owed, typically used for returns, refunds, discounts, or billing corrections, serving as proof of credit adjustment.

A payment API is a software interface that allows applications to securely connect with payment processors, enabling merchants to accept, process, and manage transactions programmatically within their systems.

Inventory turnover is a financial ratio that measures how many times a company sells and replaces its inventory within a specific period, indicating inventory management efficiency and demand.

Order to cash (O2C) is the business process that encompasses all steps from receiving a customer order to collecting payment, including order management, fulfillment, invoicing, and payment processing.

A purchase order is a commercial document issued by a buyer to a seller, detailing the types, quantities, and agreed prices for products or services to be delivered.

Customer attrition is the rate at which customers stop doing business with a company over a specific period, also known as churn rate or customer defection.

Customer retention is a business strategy focused on keeping existing customers engaged and continuing to purchase from a company rather than switching to competitors, maximizing customer lifetime value.

Payment fraud is the unauthorized use of payment methods or personal information to make illegitimate transactions, resulting in financial losses for merchants, consumers, or financial institutions.

Friendly fraud occurs when customers make legitimate purchases but later dispute the charges with their bank, claiming the transaction was unauthorized, often to avoid paying or return policies.

Two-factor authentication (2FA) is a security process that requires users to provide two different verification methods—typically something they know (password) and something they have (phone/token)—to access accounts.

BIN (Bank Identification Number) is the first 6-8 digits of a payment card number that identifies the issuing bank, card type, and geographic location for transaction routing and processing.

CVV (Card Verification Value) is a 3 or 4-digit security code printed on payment cards, used to verify that the person making an online or phone transaction physically possesses the card.

ACH (Automated Clearing House) is an electronic network that processes batches of credit and debit transactions in the US, enabling direct bank-to-bank transfers like direct deposits and bill payments.

Product bundling is a marketing strategy where multiple related products or services are packaged together and sold as a single unit, often at a discounted price compared to buying items separately.

Cross-selling is a sales technique where customers are offered complementary or related products alongside their main purchase to increase the overall transaction value and enhance their experience.

A downsell is a sales technique where customers who decline an initial offer are presented with a lower-priced alternative to still capture a sale and prevent complete loss.

An upsell is a sales technique where customers are encouraged to purchase a more expensive or premium version of a product they're already buying to increase average order value

Cart abandonment occurs when online shoppers add items to their shopping cart but leave the website without completing the purchase, typically due to unexpected costs, complex checkout, or payment issues.

Pay by link is a payment method where merchants send customers a secure URL via email, SMS, or messaging apps, allowing them to complete transactions without visiting a website or app.

BNPL (Buy Now, Pay Later) is a payment option that allows consumers to purchase items immediately and split the cost into smaller, often interest-free installments over time.