Glossary
What do the technical terms mean
Search by Alphabet
Search here for your desired search term
Payment does not have to be complicated. However, there are technical terms that are often not common.
Can we help you
In the upper search bar you can choose between two search options. The search by category and the search by alphabet. Just click on the navigation button above the selection. If you need further information, please contact us. We look forward to hearing from you.
You have not found an entry
Then do not hesitate and contact us. We make every effort to answer all questions as quickly as possible and to keep our glossary up to date in order to provide you with the greatest possible amount of information.
Payment authorization
Confirmation of a payment by a PIN or signature.
Payment Services Law
Payment authorization in payment services law requires the consent of the payer obligated to pay to a payment transaction. Section 675j (1) of the German Civil Code (Bürgerliches Gesetzbuch - BGB) stipulates that, in the event of unauthorized payments, the bank cannot assert a claim for damages against the payer. A direct debit is considered authorized because a direct debit authorization was issued in advance.