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Transaction Monitoring & Analytics
Terms
- What is a PAN? (Primary Account Number)
- PAN (Primary Account Number) is the unique identifier on payment cards, typically 14-19 digits long, that identifies the card issuer and cardholder account for transaction processing.
- What is a payment lifecycle?
- The payment lifecycle is the complete journey of a transaction from initiation to settlement, including authorization, capture, processing, clearing, and final fund transfer between parties.
- What is payment authorization?
- Payment authorization is the process where a payment processor verifies that a customer has sufficient funds or credit available and approves or declines a transaction in real-time.