Alternative payment methods (APMs) refer to non-traditional forms of payment that are used as alternatives to traditional payment methods like credit cards, debit cards, or cash. APMs offer consumers different ways to make online or in-person purchases, providing flexibility, convenience, and often catering to specific regional preferences or specific customer segments. Here’s how alternative payment […]
Category: Terminology
Affiliate Fraud
Affiliate fraud, also known as affiliate marketing fraud, refers to deceptive or fraudulent activities carried out within the context of an affiliate marketing program. Affiliate marketing is a performance-based marketing model in which individuals or organizations (affiliates) promote products or services of a company (merchant) and earn a commission for each successful referral or sale […]
Address Verification System (AVS)
The Address Verification System (AVS) is a fraud prevention measure used by merchants and financial institutions to verify the accuracy of billing addresses provided during card-not-present transactions, such as online or telephone purchases. AVS helps detect suspicious transactions by comparing the address information provided by the customer with the billing address on file with the […]
Account takeover fraud
Account takeover fraud refers to a type of identity theft where a fraudster gains unauthorized access to someone else’s account, typically a financial or online account, with the intention of exploiting it for fraudulent purposes. The fraudster takes control of the account, posing as the legitimate account holder, and may carry out various malicious activities, […]
ABA transit number
The ABA transit number, also known as the ABA routing number or simply the routing number, is a nine-digit code used in the United States to identify financial institutions within the Automated Clearing House (ACH) network. It is maintained by the American Bankers Association (ABA) and is used for various financial transactions, including electronic funds […]
3-D Secure 2.0
3-D Secure 2.0, also known as 3DS2, is an authentication protocol designed to enhance the security of online card payments. It is an upgraded version of the original 3-D Secure (3DS) protocol, which was primarily used for verifying the identity of cardholders during e-commerce transactions. The main purpose of 3DS2 is to reduce fraud and […]
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