Qor.Qloud

• Definition: Qor.Qloud is QorPay's proprietary, cloud-native infrastructure that serves as the foundation for its comprehensive payment ecosystem. It powers the platform’s core functionalities, including data orchestration, payment processing, fraud detection, and compliance management. Designed to handle large-scale, multi-channel transactions, Qor.Qloud enables real-time processing, advanced analytics, and seamless scalability. As a robust data engine, Qor.Qloud allows businesses to optimize payment workflows, harness big data insights, and maintain high levels of security and compliance across all operations​

PFaaS (Payment Facilitator as a Service)

• Definition: A comprehensive service that allows businesses to become payment facilitators without developing infrastructure, managing compliance, or taking on underwriting risks. QorPay’s PFaaS provides automated onboarding, transaction processing, and compliance management while enabling ISVs and other businesses to earn residuals from transactions

PayFac (Payment Facilitator)

• Definition: A business entity that acts as an intermediary to enable sub-merchants to accept payments. PayFacs manage sub-merchant onboarding, transaction processing, compliance, and settlement, assuming the associated risks and regulatory responsibilities while earning a share of transaction fees​

ISV (Independent Software Vendor)

• Definition: An organization that develops and sells software solutions that can include embedded payment processing. ISVs can integrate QorPay’s payment solutions to generate residual revenue from transactions processed through their software​

KYC (Know Your Customer)

• Definition: A regulatory process used to verify the identity of clients, typically involving document verification and personal information checks. KYC ensures compliance with anti-money laundering laws and helps prevent fraud. QorPay automates KYC checks during sub-merchant onboarding​

AML (Anti-Money Laundering)

• Definition: Measures and regulations aimed at preventing financial crimes such as money laundering. QorPay’s PFaaS includes automated AML compliance checks to ensure sub-merchants meet legal requirements during onboarding and throughout their operations​

PCI-DSS (Payment Card Industry Data Security Standard)

• Definition: A set of security requirements that ensure the secure handling of cardholder information during payment processing. QorPay’s platform is PCI-DSS compliant, providing encrypted and tokenized data storage to protect against breaches and fraud​

GDPR (General Data Protection Regulation)

• Definition: A European Union regulation governing the protection of personal data. It applies to all companies that process the personal data of EU residents, ensuring data privacy and control. QorPay complies with GDPR, particularly in its data processing and storage practices​

BNPL (Buy Now, Pay Later)

• Definition: A financing option that allows customers to pay for purchases in installments over time, often interest-free. QorPay supports BNPL as one of many payment methods available on its platform, facilitating flexible customer payment options​

Click-to-Pay

• Definition: QorPay’s proprietary feature that enables businesses to send instant payment links through digital channels like email, text, or chat. This solution accelerates the sales process by allowing customers to complete transactions immediately​

API (Application Programming Interface)

• Definition: A set of programming protocols and tools that enable different software systems to communicate. QorPay’s APIs facilitate seamless integration of payment solutions into web, mobile, and other applications, supporting features like tokenization, fraud detection, and recurring billing​

ACH (Automated Clearing House)

• Definition: A U.S.-based electronic funds-transfer system that processes transactions like direct deposits, payroll payments, and bill payments. QorPay supports ACH payments as part of its multi-channel processing options, allowing businesses to accept bank transfers​

RTGS (Real-Time Gross Settlement)

• Definition: An electronic payment system that allows for the immediate transfer of funds between banks on a transaction-by-transaction basis. QorPay’s infrastructure supports RTGS capabilities, ensuring real-time settlement for high-value transactions​

Tokenization

• Definition: A security technique that replaces sensitive data (e.g., card numbers) with unique identifiers called tokens, which are meaningless if intercepted. QorPay uses tokenization to enhance security and compliance across its payment ecosystem​

Residuals

• Definition: Recurring revenue earned by ISVs and other partners from transaction fees generated through their integrated payment solutions. QorPay’s PFaaS enables partners to earn residuals based on the transaction volume processed through their systems​

Payment Facilitation (for Facilitators)

• Definition: Payment Facilitation is a model where a business, known as a Payment Facilitator (PayFac), enables sub-merchants to accept payments under its umbrella merchant account. The facilitator handles onboarding, risk management, transaction processing, and compliance, creating a seamless experience for sub-merchants​