Here you will find a helpful glossary of terms used within the Pinch product, with an emphasis on Merchant terminology that the Pinch team will refer to in articles and correspondence.
Pinch - Merchant Glossary
- Merchant: A merchant is a business that is connected to our services (You are a Merchant of Pinch)
- Payer: A payer is the customer/client that pays to a merchant (Your customer(s))
- Customer: A Customer is a client/payer of a Merchant.
- Pre-approval: A pre-approval is an agreement between you and your customer that you are permitted to automatically debit them from their nominated payment method
- Unlimited Pre-approval: And unlimited pre-approval is the highest authority of pre-approval and means the client is giving you authority to auto-debit their invoices and enrol them to payment plans/subscriptions.
- Limited Pre-approval: A limited pre-approval is a pre-approval with some form of limit imposed on it, either as it pertains to only a specific plans/subscriptions or has a payment threshold limit assigned to it.
- Excluded List: This terms relates to how the Pinch system determines if an invoice should or should not be auto-debited based on what Invoice Templates (Branding themes) Pinch has been enabled on. If you see "Ignored due to invoice template being on excluded list" this means this invoices does not have "monitor for auto debit" enabled.
- Auto Debit: The process of automatically debiting/processing payment.
- Merchant on Record: This is a financial industry term and signifies the company that is recorded against statements and is responsible for the debit and reversal of funds (Pinch)
- Partner: A Parter of Pinch that brings Pinch merchants, or is themself a merchant with additional sub-merchants
- Merchant Portal: This is the Pinch Payment Management Web-App that Merchants can access (app.getpinch.com.au) and is the primary location that merchants engage with Pinch from.
- Customer Portal: An invite only Customer Portal web-app designed as an alternative to pre-approvals that allows customers to manage their invoices, save payment methods and action payments in realtime (customer.getpinch.com.au)
- Upstream Provider: These are service providers that we rely on for our systems to work on a daily basis.
- Downstream Provider: Services that Pinch uses to move data or action things within out system that are not our own.
- KYC: Know Your Customer, is a compliance and regulatory process designed to determine the authenticity of a Merchant and determine their risk.
- Surcharge: This is the process by which a merchant passes on the fees associated with payment processing to the client.
- Transfer Fee: This is the fee Pinch charges to a merchant directly for bulk settlement/dispersement to their nominated account and is always payed by the merchant.
- Settlement: This is the way groupings of invoices are recorded and synchronised to a merchants accounting software for them to reconcile payments against invoice records. This is called a transfer and is identified by tra_ on deposits made to your account.
- Batch Payment: A feature that enables multiple invoices to be paid together in a lumped via the Merchant or the Client when viewing other invoices.
- Sync: The connection between the Pinch system and other systems such as Accounting Software.
- 2FA: Two Factor Authentification is a identity and access management security method that requires two forms of identification to access resources and data that can be set up for users within the Pinch system.
- Merchant Initiated:
- Customer Initiated: