Glossary

Name		Description
Account		An account as opened in a bank
AIS	Account Information Services	The PSD2 definition of online services which provides access to bank account information (balances, transaction history, account holder information)
Application		An application is what gives our customers access to our APIs
ASPSP	Account Servicing Payment Service Provider	The ASPSP is essentially a bank
Authentication		All endpoints that help our customers deal with authentication
BNPL	Buy Now Pay Later	Also called Net-terms, BNPL is a payment that allows the payer to pay later than the day he orders the product
Connect		Front-end that payers use to pay by bank
Country		World country
Customer		The Fintecture definition of a PSU
Fintecture		is also a verb that means to build a new solution or enhance an existing one using open banking (AIS, PIS or both) :)
Fintecture account	Fintecture payment account	Local acquiring account created for the Merchant under Fintecture's name
Merchant		Company that buys and/or sells products in large amounts
Payment		A payment is a money transfer between a merchant and its customer. At fintecture it can take the form of a BNPL, a payout, a refund or a classical one
Payment account		Local acquiring account created for the Merchant under its own name
Payout		Payout is a payment made by a merchant to its customer
PIS	Payment information services	The PSD2 definition of online services which provide payment initiation from a bank account
Provider		The Fintecture definition of an ASPSP ; Bank that allows us to make a payment
PSD2	Payment Services Directive 2	A EU directive enforcing banks to open APIs for AIS & PIS purposes, and increase overall online payment security by enabling SCA.
PSU	Payment Service User	The PSU is the account holder of a bank account ( a.k.a customer )
Refund		>Refund is a payment made by the merchant to reimburse its customer from an initial payment
RFP	Request for payout	Request made by a merchant and provided to its customer (either by link, mail or sms) for realizing a payout
RTP	Request to pay	Request made by a merchant and provided to its customer (either by link, mail or sms) for realizing a payment
RTS	Regulatory Technical Standard	The high level technical standard giving the framework to implement a PSD2 compliant system.
Settlement		Outgoing payment from your Local Acquiring account to your own bank account
SCA	Strong Customer Authentication	An RTS requirement to enable online payments in a PSD2 compliant way; which mandates the PSU to authenticate using 2 of the following 3 authentication methods: o Something the customer KNOWS (ex: username/password or PIN) o Something the customer HAS (ex: phone or hardware token) o Something the customer IS (ex: fingerprint or face recognition)
TPP	Third Party Provider	The TPP is the ecommerce, or fintech, and any application interfacing with Fintecture Open Banking APIs.