Glossary

A

ARR (Annual Recurring Revenue)

The annualized value of all active subscriptions. Calculated as MRR x 12.

ACH

Automated Clearing House. A US bank transfer network used for direct debit payments.

C

Card on File (COF)

A payment method stored securely for future use. RevKeen stores a gateway token, never raw card numbers. See also: MIT, Tokenization.

Chargeback

A payment reversal initiated by the cardholder's bank. In RevKeen, chargebacks appear as disputes. See Disputes.

Checkout Link

A shareable URL that opens a hosted payment page. Created from a product + price combination.

D

Dunning

The process of recovering failed subscription payments through automated retries, email reminders, and escalation. See Dunning.

Dispute

A formal challenge to a payment, typically initiated by the cardholder's bank. RevKeen tracks dispute lifecycle from open through resolution. See Disputes.

G

Gateway

A payment processor that handles the actual card transaction. RevKeen is gateway-agnostic and currently supports NMI and Elavon.

I

Idempotency

The property of an operation that produces the same result whether executed once or multiple times. Critical for payment operations to prevent double charges.

Invoice

A payment request sent to a customer. Contains line items, tax calculations, and payment terms. See Invoices.

M

MIT (Merchant-Initiated Transaction)

A transaction initiated by the merchant without the cardholder present, using a stored card on file. Subscription renewals are MIT transactions.

MRR (Monthly Recurring Revenue)

The normalized monthly value of all active subscriptions. The primary metric for subscription businesses.

P

Payment Link

See Checkout Link.

Payment Method

A stored means of payment (card, bank account) associated with a customer. RevKeen stores gateway tokens, not raw credentials.

Proration

Adjusting charges when a subscription changes mid-billing-cycle. For example, upgrading from a $10/mo to $20/mo plan mid-month charges the difference.

S

Subscription

A recurring billing relationship between a merchant and customer. Defined by a product, price, billing interval, and payment method.

T

Tokenization

Replacing sensitive payment data (card numbers) with a non-sensitive token. The gateway stores the real data; RevKeen only stores the token.

Transaction

A financial movement in RevKeen. Sales, refunds, voids, and disputes are all transaction types stored in the unified transaction model.

V

Vault

The secure storage of payment methods. RevKeen's vault stores gateway tokens, not raw card data. See PCI Compliance.

Void

Canceling a transaction before it settles. Unlike a refund, a void prevents the charge from ever appearing on the customer's statement.

W

Webhook

An HTTP callback triggered by events in RevKeen (payment completed, subscription canceled, etc.). See Webhooks.