Glossary

This page provides a list of glossary terms used in this guide.

• Acquirer
  The merchant acquirer or bank that offers the merchant a trading account, to enable the merchant to take payments in store or online from cardholders.
• API
  Application Programming Interface
• Authorisation
  Stage where a merchant requests approval for a card payment by sending a request to the card issuer to check that the card is valid, and that the requested authorisation amount is available on the card. At this stage the funds are not deducted from the card.
• Base Currency
  Typically considered the domestic currency or accounting currency for the card.
• Card Scheme (Network)
  Card network, such as MasterCard, Visa or Discover, responsible for managing transactions over the network and for arbitration of any disputes.
• FX
  Foreign Exchange
• FX Market
  The currency market in which the FX Provider operates, such as London or the US. Currencycloud only operate in the one market.
• FX Provider
  The currency conversion rate provider, such as Currencycloud.
• Issuer (BIN Sponsor)
  The card issuer, typically a financial organisation authorised to issue cards. The issuer has a direct relationship with the relevant card scheme.
• Merchant
  The shop or store providing a product or service that the cardholder is purchasing. A merchant must have a merchant account, provided by their acquirer, in order to trade. Physical stores use a terminal or card reader to request authorisation for transactions. Online sites provide an online shopping basket and use a payment service provider to process their payments.
• MultiFX
  Multi-Currency Card
• Program Manager
  A Thredd customer who manages a card program. The program manager can create branded cards, load funds and provide other card or banking services to their end customers.
• sFTP
  Secure File Transfer Protocol. File Transfer Protocol FTP) is a popular unencrypted method of transferring files between two remote systems. SFTP (SSH File Transfer Protocol, or Secure File Transfer Protocol) is a separate protocol packaged with SSH that works in a similar way but over a secure connection.
• Smart Client
  Smart Client is Thredd's legacy desktop application for managing your account on the Thredd Platform.
• SSL Certification
  An SSL certificate displays important information for verifying the owner of a website and encrypting web traffic with SSL/TLS, including the public key, the issuer of the certificate, and the associated subdomains.
• Stand In Processing (STIP)
  The card network (Visa and Mastercard) may perform approve or decline a transaction authorisation request on behalf of the card issuer. Depending on your Thredd mode, Thredd may also provide STIP on your behalf, where your systems are unavailable.
• Thredd Portal
  Thredd Portal is Thredd's new web application for managing your cards and transactions on the Thredd Platform.