Payment Connect
Payment Connect
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Entity Glossary

💳 Payment Transaction Record

A Payment Transaction Record is a system-generated log that captures every payment processed through Payment Connect. This record includes critical information such as:

  • Amount

  • Payment method

  • Transaction status (e.g., pending, captured, refunded)

  • Tracking ID

  • Payment date

It serves as a single source of truth for all payment-related operations. Automatically created when a payment is requested or processed, it tracks the complete lifecycle of a transaction—from initiation to completion. The record is essential for:

  • Monitoring payment status

  • Conducting audits and reconciliations

  • Supporting customer service inquiries

🌐 Payment Gateway

A Payment Gateway is a third-party service provider that securely facilitates online payment processing. Acting as a bridge between Payment Connect and financial institutions, it:

  • Encrypts sensitive payment data (e.g., card information)

  • Ensures compliance with PCI DSS security standards

  • Validates payment credentials

  • Communicates authorization status back to Payment Connect

Payment Connect integrates with gateways like Fiserv and Unityfi, enabling merchants to offer a variety of payment methods.

🏢 Merchant

The Merchant is the business or organization utilizing Payment Connect to request, capture, and manage customer payments. Key responsibilities include:

  • Configuring payment settings and gateways

  • Generating payment requests or processing payments via the Payment Console

  • Managing refunds and customer inquiries

  • Receiving funds post-settlement

The merchant’s identity and bank details are securely linked with the selected payment gateway for verification and fund transfers.

💰 Payment Method

A Payment Method refers to the customer's chosen mode of payment, including:

  • Credit cards

  • Debit cards

  • Bank transfers

Availability depends on the enabled gateway. Payment Connect allows:

  • Enabling/disabling specific methods

  • Tokenized storage of customer payment credentials for security

  • Updating or removing stored methods

📅 Scheduled Payment

A Scheduled Payment is a future-dated transaction initiated by the merchant for:

  • Installment plans

  • Deferred billing

  • Due-date payments

Merchants configure these via the Payment Console. The system:

  • Automatically processes the payment on the set date

  • Updates the Payment Transaction Record accordingly

  • Sends processing notifications to both merchant and customer

Scheduled payments can be modified or canceled before the execution date.

🔁 Recurring Payment

A Recurring Payment is an automated transaction repeated at regular intervals (e.g., monthly, annually). Ideal for:

  • Subscription models

  • Membership fees

Configured via the Payment Console, recurring payments:

  • Automatically charge the customer's saved method

  • Require no manual intervention

  • Can be paused, modified, or canceled by the merchant

❌ Void Payment

A Void Payment is the cancellation of a payment before funds are captured. Used in cases such as:

  • Order cancellations

  • Entry of incorrect payment details

Key points:

  • No funds are transferred to the merchant

  • May appear as a temporary hold on the customer’s account

  • Void status is reflected in the Payment Transaction Record

  • Only available before capture; afterward, a refund is required

🔄 Refund Payment

A Refund Payment is the return of funds to the customer after a payment has been captured. Used in cases of:

  • Canceled orders

  • Returned products

  • Service disputes

Merchants can initiate:

  • Full refunds – the entire amount

  • Partial refunds – a portion of the original payment

Refunds are routed through the original payment method and recorded in the Payment Transaction Record. Processing time varies by gateway and may take several business days.

🆔 Reference ID

A Reference ID is a unique identifier assigned to each transaction in Payment Connect. It is:

  • Auto-generated and stored in the Payment Transaction Record

  • Used for tracking, reconciliation, and customer support

  • Mapped with external systems (e.g., accounting or CRM tools)

  • Critical for audits and transaction verification

📥 Captured

Captured indicates that an authorized payment has been successfully debited from the customer’s account but not yet settled to the merchant’s bank. This stage:

  • Confirms payment validity

  • Precedes final settlement

  • Allows for refunds, but not voids

  • Provides visibility into successful transaction processing