Payment glossary

The number of successful transactions accepted by an issuing bank divided by the total number of transaction attempts.

A chargeback occurs when a bank reverses funds from a merchant back to a customer after a successful payment dispute. 

The process of communicating with a customer to collect a payment that is due or past due.

Involuntary churn—also called accidental churn—occurs when a legitimate payment transaction fails and a subscriber’s recurring order is canceled despite wanting to stay subscribed.

Payment recovery is the process of reclaiming outstanding or missing debt from customers. It can involve contacting customers directly and using a payment recovery solution.