Terminology in Payment Industry

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Acquirer:

An acquiring bank (or acquirer) is the bank or financial institution that processes credit and or debit card payments for products or services for a merchant. The term acquirer indicates that the bank accepts or acquires credit card transactions from the card-issuing banks within an association. The best known (credit) card Associations are Visa, MasterCard, American Express, Diners Club, JCB and China UnionPay.

Merchant Accounts:
The acquiring bank contract with the merchant is a merchant account. The arrangement is actually a line of credit and not a bank account. Under the agreement, the acquiring bank exchanges funds with issuing banks on behalf of the merchant, and pays the merchant for the net balance of their daily payment card activity: gross sales, minus reversals, interchange fees, and acquirer fees.
Interchange fees are fixed rates set by the card association, varying by the merchant's industry, as reflected in their SIC codes. Acquirer fees are an additional markup added to association Interchange fees by the acquiring bank, varying at the acquirer's discretion.

ACH payments:
ACH payments are financial transactions handled through what is called the Automated Clearing House (ACH). ACH is an electronic network which processes very large volumes of transactions in the United States. The network through which ACH payments are made is highly reliable and efficient, and is used for a variety of purposes. Trillions of dollars worth of ACH payments are processed every year in the U.S.

Routing number:
A routing transit number (RTN) is a nine digit bank code, used in the United States, which appears on the bottom of negotiable instruments such as checks identifying the financial institution on which it was drawn. This code was designed to facilitate the sorting, bundling, and shipment of paper checks back to the drawer's (check writer's) account.

Payment System
Payment systems may be physical or electronic and each has their own procedures and protocols. Standardisation have allowed some of these systems and networks to grow to a global scale, but there are still many country and product specific systems. Examples of payment systems that have become globally available are credit card and automated teller machine networks. Specific forms of payment systems are also used to settle financial transactions for products in the equity markets, bond markets, currency markets, futures markets, derivatives markets, options markets and for transfer funds between financial institutions both domestically using clearing and Real Time Gross Settlement (RTGS) systems and internationally using the SWIFT network. Due to the backing of modern fiat currencies with government bonds, payment systems are a core part of modern monetary systems.


Bank Sort Code
A sort code is the name given by both the British and Irish banking industry to the bank codes which are used to route money transfers between banks within their respective countries via their respective clearance organizations.
The sort code, which is a six-digit number, is usually formatted as three pairs of numbers, for example 12-34-56. It identifies both the bank and the branch where the account is held.
The British and Irish sort codes are only used for domestic money transfers. If money is being transferred across international borders, an international network is used. Many European countries use the IBAN as a means of identifying bank account numbers

IEEE inerital sensor terminology 标准旨在为惯性传感器领域统一术语和定义,确保该领域的沟通和理解变得一致和准确。该标准涵盖了各种惯性传感器,如加速度计和陀螺仪,并提供了术语和定义的清晰界定。 该标准将惯性传感器术语分为几个主要分类,包括传感器类型、信号处理、工作原理和性能等方面。例如,在传感器类型方面,该标准定义了加速度传感器、陀螺仪、惯性导航系统和姿态传感器等不同类型的传感器,并提供了每种传感器的定义和特点。 在信号处理方面,标准涵盖了滤波器、数据采集、数字信号处理和校准等相关术语和定义。这些术语和定义有助于研究人员和工程师在处理和分析惯性传感器信号时进行一致和准确的交流。 此外,标准还定义了惯性传感器的工作原理,例如加速度计通过测量物体在空间中的加速度来实现位置和运动的测量,陀螺仪则通过测量旋转速度来提供方向和角速度等信息。 最后,标准还强调了性能评估和校准方法,确保惯性传感器的精度和可靠性。标准提供了评估传感器性能的指标和测试方法,并强调了校准的重要性,以确保传感器提供准确和可靠的测量结果。 总之,IEEE惯性传感器术语标准为惯性传感领域提供了一致和准确的术语和定义,促进了该领域的发展和应用。通过遵循这些标准,研究人员和工程师能够更好地理解和应用惯性传感器。
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