Payment This is where a customer pays the invoice issued by a Merchant. Receipt This is the screen receipt that is issued by Payments.com.au on behalf of the Merchant. This receipt should be printed and kept to reconcile your next months credit card statement. Bank This is any participating bank of the Merchant. A Merchant will need to maintain an account at a bank in Australia into which Payments made by customers using the Payments.com.au facility can be deposited. Fees Payable These are fees payable by the Merchant. The customer does not pay any fees or charges - other than the cost of a local telephone call if using their telephone, or the cost of their Internet connection for the few minutes required to process the transaction. Customer This is the person who is paying the Merchants Invoice - the person that has purchased the goods or services from the Merchant Merchant This is the organisation or business that is issuing invoices to their customers for goods or services supplied. Invoice This is the document which describes the goods or services supplied by the Merchant (or business) to the customer. The Invoice specifies the amount that the customer owes the Merchant, the date of supply, and the date that the Payment is due to be made. Invoice Number This is the Reference number issued by the Merchant to the customer - and is printed on every invoice issued by the Merchant. Each Reference or Invoice number must be unique and cannot contain any letters, spaces, symbols or characters. It must consist of a series of numbers of no more than 15 digits in length. It can have less than 15 digits, but not more. Merchant Terminal ID This is a credit card Payment processing facility that is issued to the Merchant by a participating bank. It is simply a series of numbers that electronically identifies the Merchants Bank Account for the settlement of Payments between all parties to the transaction. Internet Merchant Terminal ID This is a credit card Payment processing facility that is issued to the Merchant by a participating bank. It is simply a series of numbers that electronically identifies the Merchants Bank Account for the settlement of Payments between all parties to the transaction. Biller ID This is the unique Merchant identification number issued to the Merchant by Payments.com.au - and must be printed on all invoices by the Merchant. Reference Number (or Ref No) This is the Invoice number issued by the Merchant to the customer - and is printed on every invoice issued by the Merchant. Each Reference or Invoice number must be unique and cannot contain any letters, spaces, symbols or characters. It must consist of a series of numbers of no more than 15 digits in length. It can have less than 15 digits, but not more. Transaction This is the process of the customer making a Payment to the Merchant. A transaction can be described as an event which occurred where the Payment for goods or services supplied by the Merchant to the Customer was completed. Secure This is the process of ensuring that a transaction is completed as originally intended - ie - securely. Customers log onto the Payments.com.au Internet site in a 'secure session'. This is where all information provided is encrypted to prevent unauthorised parties from obtaining access to the information contained in that 'secure session'. Server This is computer equipment at Payments.com.au upon which resides the computer programs, data and communications facilities which allow the Payments of accounts between customers and Merchants to occur. Real-time This is a term used to describe an event occuring at the time the customer or Merchant is attempting to carry out a transaction. It is mostly used to describe the Payment process - this is where the customer after having completed their Payment details for the transaction, enters the 'Submit Payment' button. The customers credit card account will be simultaneously checked at the bank to ensure that it is a valid account, that there is sufficent credit available in the account to cover the amount of the transaction, and if approved, the bank will transfer in real time (subject to each individual bank processes) the funds required to complete the Payment by the customer to the Merchant. Clear Funds This is a term used to describe monies that are free to be used by a Merchant and are not subject to any further delays prior to access by the Merchant.