Glossary of Billing Events

Any undefined terms included below are as defined in the Merchant Agreement.

“Payment” means any payment leveraging the Primer platform (including but not limited to all authorizations and settled payments as well as any declines passed back to Primer from any payment processors).

“Settled Transaction” means any payment which ends in a settled state from the payment processor, representing any payment for which funds were transferred to the Merchant.

“3DS Call” means any time Primer performs a 3DS check on a payment. This does not include any 3DS checks which are performed by the payment processor.

“Instance” means any instance of Primer that is represented with a unique Primer Account ID.

“Recovered Transaction” means any transaction for which Primer’s suite of Adaptive Recovery Tools (including but not limited to Dynamic 3DS, fallbacks and retries) were used and the result of the payment was a Settled Transaction.

“Total Payment Volume” means the amount of payment volume sent through Primer as measured by Settled Transactions.

“Action” means a non-payment action driven by Primer’s automation tool in a particular workflow, represented by an application in a workflow receiving an input, processing an event, and sometimes passing an output (which may or may not lead into another application to process another “Action”).

“Trigger” means an event which initiates a workflow run.

“Observability Platform” means the payment infrastructure giving Merchants a unified, standardised view of key metrics and insights across their payments stack (including but not limited to out-of-the-box dashboards (e.g. on sales, refunds, authorisation, declines), custom reports (i.e. merchants may build their own charts and dashboards) and alert management).

“Reconciliation Platform” means the payment infrastructure giving merchants a unified format for external settlement data, including but not limited to providing a list of payments settled by processors and the batch they are included in, the reconciliation status of each payment (e.g. reconciled, unreconciled) and the conflict reason for unreconciled payments (e.g. amount mismatch, currency mismatch, missing).

“Platform Fee” means as set out in the Order Form.