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Scoring

A technique used to predict customer behaviour. In analyzing data selected from certain people, other people with the same attributes are defined as a group, thus determining payment behaviour and related risks of these people.

Secure Server

A secure server guarantees the secure transmission of encoded data like e.g. credit card data in online purchases and ensures that only a recipient with adequate authorization can read the data.

Settlement

The act by which transactions are sent to the processor for payment to the merchant. This procedure routes all captured transactions to the merchant's acquiring bank for deposit.

Settlement Currency

The currency, in which a transaction payment is settled on an account.

SSL Certificate

An SSL Certificate consists of a public and a private key. The public key is used to encrypt information and the private key is used to decrypt it. When a browser points to a secure domain, a secure socket layer handshake authenticates the server and the client and negotiates an encryption method and a unique session key. The established secure session guarantees message privacy (only the intended recipient can read it) and message integrity (cannot be modified in transit).

Storno

Cancellation of a transaction (see also reversal).

Swift Code (Society for World-wide Interbank Financial Telecommunication)

An 8- or 11-digit alphanumeric identifier that uniquely identifies a financial institution. Used in international wire transfers.