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# Glossary

> Definitions for Payouts-specific terms — payouts, beneficiaries, verification, and recipient details.

Terms specific to the Payouts API. For platform-wide terms see the [platform glossary](/glossary); for the concepts and how they relate, see [Core Concepts](/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](/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](/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. Every payout requires sender KYC: full name, identity document type, and identity number; some destinations require more (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.