GLOSSARY
Digital Wallet
Application that stores payment instruments and enables checkout with tokens or credentials.
A digital wallet stores cards or bank details and presents tokens at checkout. Examples include Apple Pay, Google Pay, and issuer wallets.
Wallets reduce friction and fraud by pairing device biometrics with network tokenization. Merchants still pay according to underlying rails (credit, debit).
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.
Apple Pay
Mobile wallet by Apple that tokenizes cards for contactless and in-app payments.
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.