Payment Glossary: 70+ Payment Terms and Definitions for 2026

CAVV is the cryptographic proof that a 3D Secure check succeeded. When payment systems pass it correctly, merchants reduce fraud exposure and avoid declines caused by broken authentication data.

Cardholder Authentication Verification Value, 3DS authentication value, 3D Secure cryptographic value

CVV is the card security code used in online payments to help issuers verify card possession. For merchants, capturing it correctly can reduce false declines, block fraud, and support stronger authorization outcomes.

CVC, CID, card security code

Dispute resolution is the post-settlement process for handling contested card payments. Strong execution helps merchants limit revenue loss, control fees, and protect processor standing.

chargeback management, dispute process, payment dispute handling

A floor limit lets a merchant approve low-value card payments offline when speed or connectivity matters. The trade-off is higher exposure to delayed declines and unrecovered revenue.

offline limit, authorization floor limit, zero floor limit

NFC payments let customers tap cards, phones, or wearables to send tokenized credentials at the point of sale. For merchants, that means faster checkout, lower exposure to card data, and more reliable authorizations.

contactless payments, tap-to-pay, near field communication payments

A point of sale is the hardware or checkout flow that captures payment details and starts authorization. Its setup affects decline handling, fraud controls, and transaction success.

POS, payment terminal, checkout system

Tokenization replaces card numbers with safe identifiers merchants can store and reuse. It reduces data exposure, supports flexible routing, and helps recurring payments survive card updates.

card tokenization, payment tokenization, payment tokens