Vending payments have their own vocabulary. Here are the key terms in one place.
The key vending payment terms are: authorization (the payment provider's approval), hold (a reserved amount), credit (money entered into the machine), cashless (non-cash payments), MDB (the payment device communication standard), and token (a substitute card number in mobile payments). Short definitions of more terms follow.
Terms A–M
- Authorization – approval of a transaction by the payment provider.
- Hold – a temporary reservation of funds.
- Cashless – paying by card, phone, or app.
- Credit – money entered into the machine before buying.
- MDB – the standard linking the controller to payment devices.
Terms N–Z
- NFC – short-range contactless communication.
- Offline – a transaction stored without a connection and settled later.
- Settlement – the final charge to the account.
- Token – a substitute card number.
- Validator – the device that checks coins.
More about machines
Browse devices with various payment methods on the page with vending machines (publisher's site).
FAQ
How does authorization differ from settlement? Authorization is approval; settlement is the final charge.
Does cashless mean cards only? No, it also covers phones, watches, and apps.