Terminology

Automated Direct Debit Amendment and Cancellation Service. An automated service used by banks that tracks cancellations and amendments made to the DDI.

Bacs

Payment Schemes Limited. An electronic system used to make payments and apply credits directly from one bank account to another in the United Kingdom.

Functionality defined by

Bacs

for transferring funds in the United Kingdom.

Bacs

defines two schemes: direct debit and direct credit.

Basic Bank Account Number. Every country can have its own standards for format and length. This can vary by country and can include up to four parts:

Bank account number
Bank code
Branch code
Check digits

Bank Identifier Code.

Direct debit instruction. An instruction given from an account holder to the bank, which authorizes a company to withdraw variable amounts of money at unscheduled times, purchase by purchase. Direct debits are among the most common financial transactions in the world.

Financial settlement partner. The

Cybersource

account that collects funds on your behalf and settles the funds to your merchant account.

International bank account number. This number consists of three parts:

Basic bank account number (BBAN)
Checking account digits
Country code

Authorization from a customer to a business giving the business permission to withdraw funds from the customer's account. Mandates are issued in paper or electronic format.

One-time password. An authentication method using a unique password that can be used only once.

Service user number. A unique identifier issued to the merchant by your sponsor bank on behalf of the

Bacs

direct debit scheme.

Society for Worldwide InterBank Financial Telecommunication.

Technical service provider. A processor that processes payments for

Cybersource

.