Glossary
Clearing

Clearing

Clearing is the stage in payment processing where transaction information is exchanged between acquirers, issuers and card schemes to calculate the final amounts owed. Clearing occurs before settlement.

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Expiry Date (Card Expiry Date)

Expiry Date is the month and year printed on a payment card, indicating when the card becomes invalid and must be replaced.

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ZIP (Buy Now, Pay Later Provider)

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