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"glossary"

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Dictionary and glossary book representing payment systems terminology

Merchant & POS

Terms that should be in your payment systems glossary

Below are the definitions of the cornerstone terms of payment systems, as established by the Banks Association of Turkey (TBB): debit card, credit card, merchant, cardholder, and more.

Diagram illustrating a Not Onus transaction between the issuer and acquirer

Merchant & POS

What does Not Onus mean?

Not Onus is a payment systems term meaning "Not On Us": a situation where the card-issuing bank and the POS/ATM (acquiring) bank differ. Such transactions are settled through clearing between the two banks.

Diagram illustrating an Onus payment transaction between card and POS

Merchant & POS

What does Onus mean?

In the payment systems glossary, some terms are essential, including Onus. Onus literally means "on us" and refers to cases where the card-issuing bank and the POS/ATM bank are the same, meaning no clearing commission applies.