Chargebacks Glossary

Your go-to resource for understanding payment, fraud, and banking terminology with clear definitions from Acquirer to Zero Liability


Cryptography is a field of study and practice that involves securing communication and data through encryption techniques. In the payments industry, cryptography plays a pivotal role in ensuring the confidentiality, integrity, and authenticity of financial transactions conducted over electronic channels. 

Encryption algorithms scramble sensitive information, such as credit card details and personal data, into ciphertext that can only be deciphered by authorized parties possessing the corresponding decryption key. This cryptographic process protects payment data from unauthorized access and interception by malicious actors, safeguarding the privacy and security of consumers' financial information. 

Beyond this, cryptographic protocols are integral to establishing secure connections between payment terminals, online merchants, and financial institutions, thereby creating a trusted environment for payment processing.

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