GLOSSARY
Card Fraud
Unauthorized card use or theft of credentials to initiate transactions.
Card fraud includes stolen PANs, cloned cards, or account takeover leading to unauthorized payments. Card-not-present channels are more exposed than card-present because no physical chip/PIN is read.
Mitigations: network tokenization, device-bound wallets (Apple Pay, Google Pay), strong authentication, velocity controls, and robust fraud detection models.
Related
Related terms.
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Acquirer
Bank or payment institution that signs merchants and routes their card transactions into the card networks.
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Apple Pay
Mobile wallet by Apple that tokenizes cards for contactless and in-app payments.
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Card Network
Payment network (e.g., Visa/Mastercard) that sets rules and routes card transactions between issuers and acquirers.
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Chargeback
A forced payment reversal initiated by the cardholder’s bank after disputing a transaction.