The Georgian payments glossary

An extra card-payment authentication step — an SMS one-time code, or an approval inside the customer's banking app — that reduces fraud and chargeback risk. Every card bank connected through QuickPay applies 3D Secure automatically.

What happens when a customer starts checking out but never finishes. QuickPay's dashboard lists these separately, segmented by converted vs. still-unconverted, so a merchant can follow up.

The bank service where a bank (the "acquirer") accepts and processes a card payment on a merchant's behalf, then settles the funds to the merchant's account. "Internet acquiring" is the same service applied to online payments.

A secret string (qpk_live_... for real transactions, qpk_test_... for testing) that authorizes a merchant's system to call the QuickPay API. Stored hashed, and shown in plain text only once, at creation.

A bank's temporary "hold" placed on the customer's funds when a payment is approved, before the money actually moves (settlement). An authorization can sometimes expire before it's ever captured.

A payment method where the customer transfers funds independently from their own bank using the merchant's IBAN and a reference code, and the merchant manually confirms the payment once the transfer arrives.

A zero-interest version of an installment plan — the purchase price splits evenly across a few months with no interest charged. The merchant is still paid the full amount upfront, same as a standard installment loan.

A checkout option that defers payment until delivery — the customer pays cash or by card terminal directly to the courier. No QuickPay-processed payment happens here, but the order is still tracked in the system.

A forced reversal a cardholder's bank initiates when the customer disputes a charge — suspected fraud, goods never received, and so on — pulling the funds back even without the merchant's agreement.

A saved set of checkout defaults — which fields to collect, currency, which payment methods to show — configured once and applied automatically to every new payment link or API-created payment.

The step where a payment made in a foreign currency (USD, EUR) is automatically converted to GEL at the current exchange rate — or the reverse, for a merchant accepting multiple currencies.

The current rate at which one currency converts to another. QuickPay's API has a public endpoint (GET /exchange-rates) for GEL/USD/EUR/GBP rates.

The base unit of QuickPay's pricing model — each payment method (BOG Card, TBC Installment, and so on) is sold as its own license tied to one domain, with API access and every no-code tool bundled into that same license.

Georgia's national currency and QuickPay's default settlement currency. Its symbol (₾) is conventionally written to the right of the amount (e.g. 97₾), unlike the dollar or euro sign.

A ready-made checkout page (qpy.ge on QuickPay) a customer is redirected to in order to complete payment — no domain of the merchant's own required, and card data never touches the merchant's server.

The standardized format for an international bank account number. On the Bank Transfer payment method, the checkout page shows the customer the merchant's IBAN plus a unique reference code that must be included with the transfer.

A unique value sent with a request (the Idempotency-Key header) that guarantees retrying the same request — after a network timeout, for example — never creates a duplicate payment.

A bank loan product a customer uses to buy something and repay in monthly installments, with interest. The merchant is paid the full amount upfront by the bank — the deferred-payment risk never lands on them. BOG, TBC and Credo run the most common installment products in Georgia.

A one-off billing document sent to a specific customer — line items, total, and a payment link bundled together, emailed directly from the dashboard.

The verification process a bank runs to confirm who a merchant or customer actually is before opening an account or approving an installment loan.

The account a merchant opens directly with a specific bank or provider, whose credentials are then connected to QuickPay for processing. Every brand brings its own accounts — QuickPay never routes payments through a shared, platform-owned account.

A setup where the merchant needs no website or code — a payment link or QR code is generated straight from the dashboard and shared directly on Instagram, Facebook, or in a DM.

A service that bundles access to several banks or payment providers behind one account and one API, so a merchant never integrates with each bank separately. This is the model QuickPay itself runs on.

The software layer that securely passes card and payment-status data between a store's checkout and a bank or payment provider. QuickPay connects to multiple Georgian banks and providers through one integration instead of one per bank.

A one-time or reusable URL that opens the hosted payment page at a set amount — sendable over Instagram, Facebook, or SMS, with no website required on the merchant's side.

The international security standard for handling card data. Under QuickPay's model, the card number never touches the merchant's own server — processing happens entirely on the bank's side, which sharply reduces what the merchant needs to do for PCI compliance.

The same payment link rendered as a scannable image, printed on a counter, menu, or product for in-person payment — no app or website needed on either side.

A billing model where a customer's card is saved once (tokenized) and the merchant charges it on a schedule afterward, with no re-entry of card details — a monthly subscription, for example.

A full or partial return of funds the merchant initiates voluntarily. QuickPay's API exposes a dedicated endpoint (POST /payments/{uuid}/refund), though some methods — bank installment loans, for example — only support refunds arranged directly with the bank.

The step where a bank or payment provider actually transfers the money for an approved payment into the merchant's bank account — typically a few days after authorization.

A bank's international identifier code, sometimes needed for transfers coming from abroad — unlike an IBAN, it identifies the bank itself, not a specific account.

An environment for simulating payments without calling a real bank API. Every brand on QuickPay has its own independent test_mode toggle — one brand can be live while another is still testing.

The process where the real card number is stored once by the bank and swapped for a safe "token" the merchant can use for future charges without ever holding the actual card number.

An automatic, subscription-based notification QuickPay sends to a merchant's server whenever a payment's status changes (e.g. payment.paid). Signed with a QUICKPAY-SIGNATURE header so a merchant can verify it wasn't forged.