PAN KEY A service which may be provided to a merchant’s terminal enabling card details to be keyed into the terminal as opposed to the card being swiped through the terminal.
PAYMENT CARD A generic term for any plastic card (Credit, Debit, Charge, etc) which may be used on its own to pay for goods and services, or to withdraw cash.
PAYMENT PAGE The payment page, also known as a paypage, is a secure web page (signified by https/) in the web address where confidential information such as credit card details are added in order to complete a payment.
PAYMENT SERVICE PROVIDER (PSP) A payment service provider (PSP) offers merchants online services for accepting electronic payments by a variety of payment methods including credit card, bank-based payments such as direct debit, bank transfer and real-time bank transfer based on online banking.
PAYPAGE The paypage, also known as a payment page, is a secure web page (signified by https/) in the web address where confidential information such as credit card details are added in order to complete a payment.
PDF Personal Details Form.
PIN Personal Identification Number – a set of characters, usually a four digit sequence, used to authenticate cash withdrawals or instructions initiated by a payment card through a customer activated terminal such as an ATM or Chip and Pin cards for transactions on terminals.
POLLING The collection of data stored in a terminal by a central computer or polling service. Data is collected in batches rather than in real-time.
POLLING WINDOW The period (normally 0.00 – 6.00) during which polling takes place.
POS Point of Sale (Service) – the physical location at which a merchant terminal is sited and where card transactions are conducted.
POT Predominantly Off-line Terminal – merchant point of sale for which electronic authorisations are sought above a pre agreed floor limit.
PROCESSING DAY SETTLEMENT Transactions performed by a merchant during non-banking days (i.e. Saturdays, Sundays and Bank Holidays) are consolidated with the transactions performed during the nearest immediately preceding banking day to produce single credits per card scheme.
PSTN Public Switched Telephone Network – the standard voice telephone system which may also be used for data.
PWCB Purchase with Cash Back – an optional transaction type offered within the Maestro and Visa Debit Card schemes allowing a merchant, with the approval of its acquirer, to allow a cardholder to draw cash up to a limit agreed with its acquirer (but maximum £50) within a standard sale transaction. Also known as “Cash Back”.