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Welcome to our Glossary

Discover the terms that change the financial technology industry.


Embossing is the process of imprinting card details onto a banking card so the details are raised above the surface to ensure the information does not rub off or get otherwise removed through continued use. The embossed information typically includes the cardholder’s name, the card number, expiration date, and sometimes CVV code.


Europay, MasterCard and Visa - EMV refers to the global standard for secure payments using integrated-circuit or “chip” prepaid, debit and credit cards. The name refers to the three companies that developed the standard in the 1990s, allowing the global interoperability between card chips and EMV-equipped terminals used by most financial institutions today. EMV specifications are managed by the international technical organization EMVCo, facilitating the standard’s international adoption and continued evolution. EMV cards are more secure than the previous generation of magnetic strip cards (See: EMV Card).

EMV Card

An EMV Card is a prepaid, debit or credit card equipped with a microprocessor or smart chip that interacts with the merchant point-of-sale device to make sure that the card is valid. Aside from being extremely hard to clone, EMV chips generate a unique transaction code using cryptographic keys that is then transmitted to the POS device for validation. EMV Cards or card numbers cannot be used at an EMV terminal without this code. Cardholders might also be required to insert a PIN number for authorization, replacing the more vulnerable signature for transactions with magnetic strip cards.


The protection of data using mechanisms that translate or code it from its original form and can only be recovered with an algorithm, password or encryption key. The encrypted data is referred to as ciphertext while the original data is known as plaintext. Algorithms used for contemporary encryption methods allow for data to be authenticated and help guarantee the integrity of the encrypted data as it travels through the internet. Thorough encryption schemes are required to guarantee financial operations such as transaction processing using credit card or bank account information are protected from hacking, identity theft and fraud.

End-to-End Encryption (E2EE)

End-to-end encryption is a system of communication that allows for the encryption of sensible information such as payment data all along the processing chain, from the point-of-sale terminal where data is entered and initially encrypted until it reaches the processor or acquirer for decryption. This messaging system only allows for the communicating users to read the information being transmitted.


E-commerce is the marketing, sale and provision of services using the internet. It is based on the migration of the traditional model of commerce into a technological environment with the aim of expanding sales to different actors who access these electronic commercial environments. There are different kinds of e-commerce categories, which are classified depending on the transaction type and means of income: B2B (business to business); B2C (Business-to-Consumer); B2G (Business-to-Government); C2C (Consumer-to-Consumer) and C2B (Consumer-to-Business).


E-Payments are payment transactions for goods and services that are executed by means of an electronic platform or device, such as the internet, mobile applications or POS terminals. The digital transaction between the two parties is carried out by a financial entity authorized by both. Types of electronic payments include ACH, wire and bank transfers, digital wallets, P2P, mobile payments and debit/credit card payments, among others. E-payments can be classified in two categories: remote payment transactions, which are initiated using the internet or mobile devices, and not remote or card-present transactions, which use POS devices or mobile NFC technology (See NFC).