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​Relevant System details for E-Commerce


      • PSP - A Payment Service Provider (PSP) provides a platform for online shops accepting electronic payments through variety of bank-based payments methods such as card payments, direct debit, bank transfer, and real-time bank transfer.

      • PCI-DSS - The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all companies that receive, process, store or transmit card information maintain a secure environment.

      • BIN - Bank Identification Number (BIN) refers to a set of the first four to six numbers that appear on a bank card which identifies the institution that issued the card. These numbers are critical in the process of matching transactions to the financial institution that issued the charged card.

      • Luhn - Is a formula or algorithm used to verify and approve the authenticity of a payment card identification numbers or other identifying codes. The method was created to guard against unexpected errors.

      • CVV – Stands for Card Verification Value. A CVV is the three digit numbers at the back of the bank card required to complete online card transactions. It also provides added security against scams.

      • AVS - The Address Verification Service (AVS) is a fraud prevention system that, when used effectively, can help to limit fraud and charge-backs. AVS works to verify that the billing address entered by the customer is the same as the one associated with the payment card account.​

      • 3D secure - The name refers to the "three domains" which interact using the protocol: the merchant or acquirer domain, the issuer domain, and the interoperability domain.  It is an enhanced online purchases security feature which automatically generates an O​ne-Time-Pin (OTP) sent to the client as confirmation and verification that an online transaction is performed by the card owner.
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