GLOSSARY
Apple Pay
Mobile wallet by Apple that tokenizes cards for contactless and in-app payments.
Apple Pay stores cards in the wallet and uses device biometrics plus network tokenization to secure payments. At POS it uses NFC; in apps and web it uses device tokens to authorize via the card network.
Benefits: fewer declined cards, stronger authentication, and reduced exposure of raw PANs. Merchants see Apple Pay as a card transaction, with costs driven by underlying credit or debit rails.
In the product
Where this term matters in operation.
The glossary is not meant to be academic. It explains the language teams use in Kotao while selling, planning, paying, reporting, and automating.
In sales
Terms like this appear inside POS, checkout, bookings, offers, and customer communication.
In back office
Finance, inventory, HR, and reporting need the same meaning so reports do not drift apart.
In integrations
APIs, imports, webhooks, and exports work better when teams use the same definitions.
Related terms.
Acquirer
Bank or payment institution that signs merchants and routes their card transactions into the card networks.
Card Fraud
Unauthorized card use or theft of credentials to initiate transactions.
Card Network
Payment network (e.g., Visa/Mastercard) that sets rules and routes card transactions between issuers and acquirers.
Chargeback
A forced payment reversal initiated by the cardholder’s bank after disputing a transaction.