Glossary

Terms that apply across the whole platform. For terms specific to one product, see its own glossary: Exchange, Collect, Payouts.

• Compliance screening — sanctions, AML, and fraud checks that confirm a payment or recipient is legitimate and cleared to proceed.
• Fiat — government-issued currency (e.g. USD, NGN, KES), as opposed to a stablecoin.
• Idempotency / Idempotency-Key — a unique key attached to a request that lets the server recognise a repeat of the same request and perform the action only once; a retry carrying the same key returns the original result instead of acting again. See Conventions.
• Merchant of Record (MoR) — the entity legally responsible for a payment: the seller on record to payment providers, tax authorities, and regulators, accountable for processing, tax, and compliance.
• Merchant reference — a merchant-supplied identifier attached to a session, transaction, or payout, used for tracking and reconciliation.
• Minor units — an amount expressed as an integer in the currency’s smallest unit (e.g. 10000 = 100.00 NGN). See Conventions.
• Processor (PSP) — a payment service provider that processes a payment on its underlying rail.
• Rail — the underlying channel a payment moves over (card, bank transfer, mobile money, stablecoin).
• Reconciliation — matching records from different systems (e.g. provider statements and an internal ledger) to confirm they agree.
• Routing / failover — selecting the best processor for each payment, and automatically switching to another if one is unavailable or fails.
• Stablecoin — a crypto asset pegged to a fiat value (e.g. USDT, USDC).
• Webhook — a server-to-server HTTP POST that notifies a registered endpoint of an event (a state change), signed and retried on failure.