B

Question 1

Batch Procesing

Answer 1

A type of data processing and data communications transmission where related transactions are grouped and transmitted toghether for processing. For instance, a groupd of transactions can be batched based on when the transaction took place. (e.g - daily)

Question 2

BNPL

Answer 2

A popular deferred payment option that allows that consumer to split a purchase into smaller instalments

Question 3

BIN Number

Answer 3

A BIN, or a Bank Identification Number, is the first 4-6 numbers on a payment card that identifies the card issuer. The first digit is the major industy identifier, and the remaining digits communicate the financial institution that issed the card

Question 4

Bacs Transfer

Answer 4

Bankers Automated Clearing system. It refers to the network of banks and building societies in the UK that participates in the Bacs payment scheme

Question 5

Basis points

Answer 5

The percentage that you are charged on each credit card transaction is. 1 basis point is equal to 1/100th of 1 percent -> 0,001%

Question 6

Blended Pricing

Answer 6

A pricing model for merchant acquirer services based on headline rates and additional fees, rather than IC+ pricing, IC++ pricing or fixed pricing