GLOSSARY
Merchant
A business that accepts payments for goods or services via card or alternative rails.
A merchant is a business that accepts payments from customers, typically via a payment gateway and an acquiring bank. Merchants are subject to KYB checks and must follow scheme and compliance rules (e.g., PCI DSS) before transacting.
Costs for merchants include interchange fees, scheme fees, and processor markups. Choosing routing strategies (e.g., more debit vs. credit, or domestic rails like giro card) can lower acceptance costs.
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.