Glossary
Negative File

Negative File

A list of accounts, cards, merchants or identifiers that have been flagged due to fraud, chargebacks or other issues and are therefore blocked or restricted.

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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.

ZKP (Zero-Knowledge Proof)

ZKP is a cryptographic method that allows one party to prove knowledge of information without revealing the information itself, used in advanced authentication and privacy-preserving payment solutions.

ZIP (Buy Now, Pay Later Provider)

ZIP is a buy now, pay later (BNPL) service offering instalment-based payments for online and in-store purchases.

Zeroisation

The secure deletion of cryptographic keys and sensitive data from hardware security modules (HSMs) or other secure devices to prevent unauthorised use.

Zero-Rating

Refers to goods or services that are taxed at a 0% VAT rate, affecting invoice and payment calculations.

Zero-Auth (Zero-Amount Authorisation)

An authorisation request for a value of £0 used to validate a card before charging it. It confirms card validity without reserving funds.
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