Payments, Banking & Web3 Encyclopedia

US bank account transfers through the Automated Clearing House. A customer authorizes a debit or initiates a credit; clearing and settlement follow the provider’s schedule. Returns and authorization rules apply.

Bank-linked US payments using an enrolled email address or mobile number. Funds move between eligible bank accounts; business acceptance depends on the participating bank and account type.

A US digital wallet for eligible personal and business payments. Customers pay through an approved business profile or checkout integration using their supported funding source.

A US financial app supporting wallet payments. Eligible businesses accept payments through a business account or supported checkout integration, subject to provider terms.

A digital wallet and payment service. Customers authorize checkout using a PayPal balance or supported funding source; the provider processes the payment and settles to the merchant account. Disputes and reversals may apply.

A money-transfer network with digital and agent channels. The sender funds a transfer and the recipient receives it through an eligible payout channel; merchant integration and use cases require provider approval.

Traditional credit and debit card processing: checkout sends card authorization through a gateway, processor and acquiring bank to the issuer. Approved payments are captured and settled to the merchant. Refunds, disputes and chargebacks remain part of this model.

A card-funded on-ramp lets a customer purchase crypto for a payment; an off-ramp converts crypto back into supported fiat and pays it out through an eligible provider channel. Card payouts depend on provider support. Crypto transfers generally do not use card chargebacks, but the original card purchase can still be disputed: chargeback exposure depends on the provider, fraud controls and contract, and is not guaranteed to be near zero.

Bidirectional crypto payment flows: customers can deposit or pay in supported crypto, and businesses can pay customers or counterparties in crypto. On-ramp converts fiat into crypto; off-ramp converts crypto into fiat when needed. Wallet address, network, asset, fees and confirmations must match.

With customer consent, an authorized provider connects to a bank to initiate an account-to-account payment or access permitted account information. The customer authenticates with their bank and funds move through a supported bank rail.

The Single Euro Payments Area standardizes euro payments between participating accounts. A SEPA Credit Transfer sends euros using the beneficiary’s IBAN; processing follows the bank’s applicable schedule.

An instant euro credit-transfer scheme for participating banks. Eligible transfers are processed around the clock within seconds, subject to the bank, checks and service availability.

The networks and bank infrastructure that move money between accounts. A payment instruction is validated, cleared and settled under the selected rail’s currency, operating hours and rules.

Brazil’s instant payment system. Customers authorize a bank or payment-account transfer using a key, QR code or payment details; funds reach the receiving account through the supported integration.

Mexico’s interbank electronic payment system. The payer initiates a peso transfer from a participating institution to the beneficiary’s bank account using supported account details.

Colombia’s online bank-payment service. Customers select their bank, authenticate and authorize an account debit to complete an eligible merchant payment.

A stablecoin designed to track the US dollar. Transfers use a supported blockchain and receiving wallet; network and asset must match.

A dollar-referenced stablecoin used for supported crypto payments and settlement. Funds move between compatible wallets on the selected blockchain.

A Bitcoin payment network using payment channels. The payer sends bitcoin to a supported Lightning invoice or address through compatible wallets.

A Mexican cash-payment option. The customer obtains a payment reference, pays at a participating location and the provider confirms the merchant payment.

A Chilean online card-payment gateway. Customers authorize a supported card payment and the acquiring provider processes and settles it.

Costa Rican bank-account payments using an enrolled mobile number. The customer initiates the transfer through a participating financial institution.

Costa Rica’s electronic payment infrastructure connecting participating financial institutions for supported account transfers.

A Panamanian mobile-payment service. Customers pay an enrolled person or eligible business through a supported banking app.

Guatemalan interbank account transfers through participating financial institutions. The payer submits recipient account details and the bank processes the instruction.

An immediate interbank transfer service in Guatemala through participating institutions, subject to the account, limits and service availability.

El Salvador’s interbank payment service. Customers initiate eligible bank transfers through their participating institution.

A Peruvian mobile wallet used to send and receive supported payments by mobile number or QR code. Business acceptance depends on the service arrangement.

A Peruvian mobile-payment service available through participating financial apps, enabling supported payments using a mobile number or QR code.

Account-to-account transfers initiated with the recipient’s banking details. Timing, currencies, returns and fees depend on the bank and payment network.

A QR code carries payment details which a compatible banking or wallet app reads to initiate a supported payment across participating services.

Alternative Payment Method: a payment method outside conventional card rails, including wallets, bank transfers and local methods.

Payment Service Provider: a provider that enables merchants to accept and manage one or more payment methods.

A payment-processing integration layer that can connect a merchant to supported PSPs and payment methods. The merchant integrates technically with the gateway; commercial onboarding and terms with each PSP remain provider-specific.

An advanced technology layer that connects multiple supported PSPs and centralizes routing, rules, cascading/failover, automation and payment-flow control through one merchant integration.

Infrastructure or a flow that converts fiat currency into digital assets such as cryptocurrencies or stablecoins, often funded by cards, bank transfers or local payment methods.

Infrastructure or a flow that converts digital assets into fiat currency and delivers value through a suitable payout or banking rail.

Practical terminology for broader infrastructure connecting different payment rails, currencies, markets or fiat/digital-asset flows from an entry rail to a different exit or settlement rail.

A cryptoasset designed to track a reference value, often a fiat currency. USDT and USDC are common examples.

Bitcoin is a decentralized digital asset and payment network. Merchants may accept BTC directly or through payment processors, subject to provider support, jurisdiction and risk approval.

A broad term for blockchain-enabled applications, digital assets, wallets and protocol-based infrastructure.

Business-to-Business / Business-to-Consumer. In payments and iGaming, B2B describes companies selling infrastructure, platforms or services to other businesses, while B2C describes operators or merchants serving end customers directly.

Payment methods widely used in a specific country or market, such as local bank transfers, instant-payment rails or wallets.

A flow that converts government-issued currency into a digital asset, commonly through an on-ramp.

A flow that converts a digital asset into fiat currency, commonly through an off-ramp.

The acquiring function that enables merchants to accept card payments and routes transactions into card networks.

Software participating in the Bitcoin Lightning Network and capable of opening channels and routing Lightning payments.

A wallet designed to send and receive Bitcoin payments over the Lightning Network.

The transfer of funds owed to a merchant or counterparty after payment processing and reconciliation.

A card transaction reversed through the issuer/card-network dispute process.

Authentication controls used in card payments; 3-D Secure is a card authentication protocol and SCA refers to Strong Customer Authentication requirements in applicable markets.

A betting operation or platform that offers wagering markets on sporting events.

A portion of merchant funds retained temporarily by a provider or acquirer to manage risk and potential liabilities.

A market or business context that may be unregulated, not locally licensed, or subject to evolving or ambiguous regulatory treatment.

A business or operator that accepts payments from customers in exchange for goods or services. In the payments ecosystem, a merchant typically connects to an acquirer, PSP, payment gateway, payment orchestrator or other infrastructure to accept, route and settle transactions.

An account structure used to receive funds from card-payment acquiring activity, subject to the acquiring and settlement model.

Merchant Identification Number: an identifier assigned to a merchant within card-processing infrastructure.

Merchant Discount Rate: the merchant-facing rate charged for processing a payment, typically expressed as a percentage and sometimes combined with fixed fees.

Know Your Customer / Know Your Business: due-diligence processes used to identify and assess individuals and companies.

Software as a Service: software delivered as an ongoing hosted service rather than a locally installed product.

A product or service supplied by one company that another company can offer under its own brand, subject to the underlying agreement.

A financial institution or acquiring provider that enables merchants to accept card payments and participates in authorization and settlement flows.

The institution that issues a payment card or account instrument to the customer and participates in authorization decisions.

A software-based wallet that stores payment credentials or digital assets and enables payment or transfer activity.

Layer 1 refers to a blockchain base network; Layer 2 refers to systems built above it to improve scalability, speed or transaction economics.

A payment channel used by the Bitcoin Lightning Network to enable repeated transfers without recording every individual payment directly on Bitcoin's base layer.

Payments in which payer, payee, institutions or settlement layers span more than one country or currency environment.

A merchant-facing payment interface or layer that can present and manage multiple deposit and withdrawal methods, especially relevant in iGaming.

A technology layer that can connect an operator to multiple casino game providers through a consolidated integration.

A company that enables merchants to accept and manage payments by connecting payment methods, acquiring, processing and related services through one commercial or technical relationship.

An advanced payment-technology layer in which a merchant integrates with the orchestration platform while the platform manages supported PSP connections and centralizes routing, rules, cascading/failover, automation and payment-flow control. PSP contracts and commercial terms remain separate unless a specific provider model states otherwise.

Payment Facilitator: an entity that can onboard and service sub-merchants under a payment-facilitation model established with an acquiring partner, subject to applicable scheme and regulatory requirements.

The replacement of sensitive payment credentials with a non-sensitive token that can be used within an authorized payment environment while reducing exposure of the original credential.

A card-network-issued token that can replace the underlying card number for supported payment use cases and may be updated as card credentials change.

A card authorization decline that may be recoverable through authentication, updated information, retry logic or another permitted action, depending on the issuer response and payment context.

A card authorization decline that generally should not be retried without a material change in payment credentials or circumstances, depending on the issuer response code and provider rules.

The share of attempted payment authorizations that are approved. It is commonly used to evaluate payment performance, although the exact calculation should be defined consistently.

A fee component in card payments that is generally transferred between acquiring and issuing sides under card-network rules and can vary by market, card type and transaction characteristics.

A fee associated with card-network participation or transaction processing. The applicable fee structure depends on the network, market, transaction and commercial setup.

Payment Card Industry Data Security Standard: a security standard for organizations that store, process or transmit payment card account data, with obligations determined by the applicable environment and role.

International Bank Account Number: a standardized account identifier used in many countries to support accurate routing of domestic and cross-border bank transfers.

An IBAN-like account identifier assigned for collection, reconciliation or customer segmentation while funds may ultimately settle to an underlying master account, depending on the provider structure.

Digital assets designed to track a reference value, commonly a fiat currency. In payments, stablecoins such as USDT and USDC can be used for settlement or transfer flows subject to provider support, compliance and jurisdiction.

A Layer-2 payment network built on Bitcoin that uses payment channels to enable faster, lower-cost transfers without recording every individual payment directly on Bitcoin's base layer.

The process of matching payment, settlement, bank and internal ledger records to identify differences and confirm that transaction and fund movements are accounted for correctly.

A transfer of funds from a business or platform to a customer, merchant, supplier or other beneficiary through an available payment or banking rail.

The function responsible for managing liquidity, cash positions, funding, settlement balances, currency exposure and related financial operations within a business.

The availability of funds or assets to meet payment, settlement, payout and operational obligations when required, across relevant currencies and accounts.

Foreign exchange: the conversion of one currency into another. In cross-border payments, FX pricing, spreads, timing and settlement currency can materially affect total payment economics.

Anti-Money Laundering: policies, controls and monitoring used to identify, assess and mitigate money-laundering and related financial-crime risks under applicable requirements.