Reference

This section defines key terms used throughout the Billing module and provides a quick reference for billing statement status types.

Glossary

• Account Updater: a service that automatically updates expired or changed credit card information by receiving updates directly from issuing banks. This service helps maintain uninterrupted payment processing for recurring charges.
• Autopay: an automated payment feature that charges the designated payment method on a scheduled basis, typically the second business day of each month, to pay the outstanding balance. When enabled, autopay ensures bills are paid on time without manual intervention.
• Bill Number: a unique identifier assigned to each billing statement. For example, 4B3836G4777. This number is used to reference specific bills when viewing, downloading, or discussing charges with support.
• Billing Address: the physical address associated with the billing account and payment methods. This address must match the address on file with the credit card company to avoid payment processing issues.
• Billing Information: contact details associated with the billing account, including the email address for notifications and the billing address. This information is used for sending invoices, payment confirmations, and other billing-related communications.
• Billing Statement: a detailed document showing all charges, fees, and transactions for a specific billing period. Each statement includes a bill number, amount due, created date, due date, and itemized list of charges.
• Created Date: the date when a billing statement was generated by the system. This is typically at the end of each billing cycle.
• Current Balance: the total amount currently owed to the platform for services rendered. This balance updates automatically as new charges are incurred or payments are made.
• Customer Invoicing: a product feature that enables automated billing and invoice generation with customizable templates and payment reminders. This service is included with the account at no additional charge.
• CVV: Card Verification Value, the three- or four-digit security code on a credit or debit card. This code is required when adding a new payment method but is never stored or displayed after the card is saved.
• Due Date: the date by which payment for a billing statement must be received to avoid late fees or service interruptions. This date is displayed on each billing statement.
• Gateway: a payment processing service that securely transmits payment information between merchants and payment processors. The gateway product includes tiered pricing based on transaction volume and a one-time merchant ID registration fee.
• Line Item: an individual charge or fee listed on a billing statement. Each line item typically includes a description, billing frequency, and amount.
• Merchant ID: a unique identifier assigned to a business for payment processing. Initial merchant ID registration incurs a one-time fee when activating the Gateway service.
• Monthly Recurring Fee: a charge that appears on the billing statement each month for ongoing services or subscriptions. These fees continue until the service is cancelled.
• One-Time Fee: a charge that appears only once, typically for setup, registration, or activation of a service. For example, the initial merchant ID registration fee of 10.00 USD for the Gateway service.
• Outstanding Balance: the total amount owed that has not yet been paid. This is the same as the current balance.
• Payment Method: a credit or debit card saved to an account for paying bills. Multiple payment methods can be on file, but one must be designated as the primary payment method. The system displays the last four digits of the card number only, as a security measure.
• Primary Payment Method: the default credit or debit card that is charged for payments, especially when autopay is enabled. The primary payment method can be changed at any time.
• Products and Pricing: a section of the Billing module that displays all activated products for the account along with their pricing structures, fees, and billing frequencies. This section shows the charges applied to the account.
• Status: the current payment status of a billing statement. Common statuses include Paid (bill has been paid in full) and Pending (payment is awaiting processing or the bill is not yet due).
• Tiered Pricing: a pricing structure where the cost varies based on usage volume. For example, the Gateway service has different monthly rates depending on the number of transactions processed per month (0 to 9,999 transactions, 10,000 to 24,000 transactions, or 25,000 to 49,999 transactions).
• Transaction Volume: the total number of payment transactions processed during a billing period. This metric is used to determine which pricing tier applies to the account for services with tiered pricing.
• Usage-Based Fee: a charge that varies based on service usage volume. This differs from flat monthly fees and is calculated based on metrics like transaction volume or number of API requests.
• Visa Acceptance for SMB: a payment platform designed for small and medium-sized businesses.

Statement Status Types

Each billing statement in the Overview table has a payment status:

• Paid: the bill has been paid in full.
• Pending: payment is awaiting processing, or the bill is not yet due.
• Unpaid: the bill has not been paid and is not pending.