Class Action
Situation where interested parties seek restitution for financial loss. The security holder may be offered the opportunity to join a class action proceeding and would need to respond with an instruction. In Simple terms, it is a lawsuit being made against the company.
AVS( Address Verification Service)
Address Verification Service - a service supported by Visa, MasterCard, Discover and American Express that verifies the cardholder's billing address against the one on file with the issuer. AVS is designed to help combat fraud in non-face-to-face transactions.
Wholesale / Large Value Payments
Wholesale or Large value payments are generally of very large amounts, which are mainly exchanged between banks or between participants in the financial markets and usually require urgent and timely settlement.
UK Payments Administration Ltd (UKPA)
The UK Payments Administration Ltd (UKPA) (previously APACS, the Association for Payment Clearing Services) is a UK trade organization that brings together all payment systems organizations and gives banks, building societies and card issuers a forum where they can work together on non-competitive issues. UKPA currently has 28 members and operates three clearing companies under its umbrella: BACS, CHAPS and CCCL.
RuPay
RuPay is the Indian domestic card payment network being set up by National Payments Corporation of India (NPCI) at the behest of banks in India. This project has been conceived by Indian Banks Association and has the approval of Reserve Bank of India.
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