1. Acquiring Bank (Acquirer): The financial institution that assumes responsibility for authorizing and settling credit card transactions for a merchant, ultimately depositing the funds into their account.

2. Authorization: The process of verifying a customer’s payment credentials (card number, expiration date, CVV) and ensuring sufficient available funds to complete the transaction.

3. Card-Not-Present (CNP) Transaction: An electronic payment where the physical card is not present at the time of authorization, such as online purchases. (Compare: Card-Present Transaction)

4. Cardholder: The legal owner of the credit or debit card used for a financial transaction.

5. Issuing Bank: The financial institution that issues the credit or debit card to the cardholder and provides them with a line of credit or access to their deposited funds.

6. Chargeback: A formal dispute process initiated by a cardholder with their issuing bank, requesting a refund for a transaction they believe is unauthorized or fraudulent.

7. Checkout: The final stage in the online shopping process where the customer enters their payment information and completes the purchase.

8. Cryptocurrency: A digital form of currency secured by cryptography, used for online transactions independent of a central bank.

9. Digital Wallet: A secure electronic application that stores payment credentials (credit/debit cards, loyalty programs) for simplified online and in-app purchases (e.g., Apple Pay, Google Pay).

10. E-commerce (Electronic Commerce): The activity of buying and selling goods or services over the internet.

11. Fraud: Deceptive activity intended to steal money or cardholder data during an online transaction.

12. Payment Gateway: A secure online service that acts as an intermediary between a merchant’s website and the payment processor and acquirer bank, facilitating the secure transmission of customer payment information.

13. In-App Payments: Payment transactions initiated and completed directly within a mobile application.

14. Merchant Account: A specialized bank account that allows businesses to accept electronic payments (credit cards, debit cards, ACH transfers) from customers.

15. Merchant Identification Number (MID): A unique identifier assigned to a merchant by a payment processor for identification purposes within the payment network.

16. Near Field Communication (NFC): A contactless payment technology that enables data transmission between devices in close proximity, often used in mobile wallets for tap-and-pay transactions.

17. Omnichannel Payment Solution: A comprehensive system that allows customers to utilize various payment methods (credit card, digital wallet, etc.) seamlessly across different channels (online, in-store, mobile app).

18. PCI DSS (Payment Card Industry Data Security Standard): A rigorous set of security requirements mandated by the PCI Security Standards Council (PCI SSC) for organizations that store, process, or transmit cardholder data.

19. Payment Card Industry (PCI): An industry-wide organization that develops, maintains, and enforces security standards for card payment transactions.

20. Payment Processor: A third-party company that authorizes, verifies, settles, and facilitates the transfer of funds between a merchant’s bank account and the issuing bank for completed credit card transactions.

21. Payment Service Directive (PSD2): A regulatory framework established by the European Union to enhance security requirements for online payments and strengthen consumer protection.

22. Payment Service Provider (PSP): A company that offers merchants a comprehensive suite of payment processing solutions, including gateway services, settlement capabilities, and fraud prevention tools.

23. Point of Sale (POS): The physical location where a customer makes a payment, often equipped with a POS system for processing transactions.

24. Prepaid Card: A payment card loaded with a predetermined amount of funds, used for online or in-store purchases without requiring a credit line.

25. Recurring Billing: An automated system for charging a customer at regular intervals for a subscription service.

26. Refund: The process of returning a payment or portion of a payment to a customer, typically initiated by the merchant.

27. Settlement: The final stage in the payment cycle where authorized transaction funds are deposited into the merchant’s bank account.

28. 3D Secure: An authentication protocol designed to reduce the risk of fraudulent online card transactions by requiring additional verification from the cardholder during checkout.

29. Tokenization: The process of replacing sensitive cardholder data with a unique digital identifier (token) for enhanced security during online transactions.

30. Transaction Fee: The fee charged by a payment processor or gateway for authorizing and settling a financial transaction.

31. Applicant Tracking System (ATS): Software used by organizations to manage the recruitment process, including job postings, applicant applications, and resume screening.

32. At-Will Employment: A legal doctrine in some jurisdictions allowing employers or employees to terminate employment at any time, for any reason (with some exceptions like discrimination).

33. Background Check: An investigation into a candidate’s past, verifying their employment history, education credentials, criminal records, and references.

34. Benefits: Non-salary compensation offered by employers, such as health insurance, retirement plans, paid time off, and other perks.

35. Collective Bargaining: The process where employee representatives negotiate with employers regarding wages, working conditions, and benefits.

36. Compensation: The total amount of pay and benefits an employee receives for their work.

37. Confidentiality Agreement (NDA): A legal contract that protects confidential information disclosed during the recruitment or employment process.

38. Contract Employee (Temporary Worker): An employee hired for a specific period or project, with a finite employment term.

39. Discrimination: The unlawful treatment of a job applicant or employee based on protected characteristics like race, gender, religion, age, or disability.

40. Employee Handbook: A company document outlining policies, procedures, expectations, and employee rights within the organization.

41. Employer Branding: Strategies used by companies to promote themselves as attractive workplaces and attract top talent.

42. Employment Contract: A legally binding agreement between an employer and employee outlining the terms and conditions of employment.

43. Equal Employment Opportunity (EEO): The principle that all qualified applicants should have equal opportunities for employment regardless of protected characteristics.

44. Fair Labor Standards Act (FLSA): A federal law in the US establishing minimum wage, overtime pay, and child labor standards.

45. Headhunter: A recruiter who actively searches for top talent to fill specific job openings for a company.

46. Independent Contractor: A self-employed individual providing services to a company, but not considered an employee and responsible for their own taxes and benefits.

47. Interview: A structured conversation between a candidate and employer to assess suitability for a job opening.

48. Job Description: A document outlining the responsibilities, qualifications, experience, and skills required for a specific job opening.

49. Job Offer: A formal proposal from an employer to a candidate outlining the terms and conditions of employment, including salary, benefits, and start date.

50. Minimum Wage: The lowest hourly wage that a legal employer can pay their employees, as established by law.