Payouts

Glossary

Terms used in the Payouts API

Terms specific to the Payouts API. For platform-wide terms see the platform glossary; for the concepts and how they relate, see Core Concepts.

  • AML pre-screening / PEP — screening a recipient against sanctions lists, Politically Exposed Persons, and internal risk lists before they can be paid.
  • Bank code — the code identifying the recipient’s bank (e.g. a Nigerian 3-digit code such as 044).
  • Bulk payout (batch) — one request containing many payouts, processed asynchronously and tracked by a batchId.
  • Clearing type (instant / standard) — the speed option for a bank payout; instant (where supported, may cost more) vs same-day standard.
  • Destination value (destinationValue) — the payout amount, as { minorAmount, currency }.
  • IBAN — International Bank Account Number, required as the account identifier in some markets (e.g. Egypt).
  • MSISDN — a mobile number in international format identifying a mobile-money wallet (e.g. 254723993187).
  • Name matching (name enquiry) — verifying the recipient account’s holder name; a PARTIAL_MATCH means the account exists but the name differs and needs confirmation.
  • Payout — a transfer of funds from the merchant’s balance to a third-party recipient. Distinct from a withdrawal (the merchant’s own funds out) — see the Exchange glossary.
  • Payout beneficiary (payoutBeneficiaryId) — a pre-registered, pre-verified, AML-screened recipient referenced by ID instead of inline details. Distinct from an Exchange withdrawal beneficiary — see the Exchange glossary.
  • Processor reference (processorReference) — the downstream rail’s own transaction identifier, used for external reconciliation.
  • Purpose / source of funds — compliance fields required by some destinations: the reason for the transfer and the origin of the sender’s funds.
  • Reversal — a completed payout later returned by the receiving bank (e.g. closed account or compliance), moving it to a failed state.
  • Sender (originator) — the party initiating the payout; some destinations require sender KYC (name, ID, date of birth, address, nationality).
  • Single payout — a one-off payout to a single recipient.
  • Stablecoin payout — a USDT/USDC transfer to a blockchain wallet, on the Ethereum (ERC20) or Tron (TRC20) network.