Global Account
A local-currency collection account with local bank details used to receive funds like a domestic business.
Multi-Currency Wallet
A balance layer that can hold multiple currencies simultaneously without forcing conversion.
FX Markup
The percentage added above the interbank mid-market rate when converting currencies.
Interbank Rate
The wholesale mid-market foreign exchange rate used as a reference for FX pricing.
SWIFT
A messaging network used for cross-border bank transfers, often slower and more expensive than local rails.
Local Payment Rails
Domestic payment systems such as ACH, SEPA, Faster Payments, FPS, or SPEI used for local settlement.
SEPA
The Single Euro Payments Area system for euro credit transfers and direct debits across participating countries.
ACH
Automated Clearing House network used for USD electronic bank transfers in the United States.
Faster Payments
A UK real-time retail payment system commonly used for GBP transfers.
FPS (Hong Kong)
Faster Payment System in Hong Kong supporting near real-time HKD and CNY transfers.
SPEI
Mexico's real-time electronic funds transfer system for MXN payments.
Like-for-Like Settlement
Settling received funds in the same currency they were paid in, avoiding forced FX conversion.
Foreign Transaction Fee
A fee charged by banks or card issuers when a purchase is processed in a foreign currency.
Corporate Card
A business-issued payment card used for employee and company spend with centralized controls.
Embedded Finance
Financial products such as accounts, cards, or payouts offered inside a non-bank platform experience.
Connected Account
A sub-account created under a platform for sellers or clients to hold and move funds.
KYC
Know Your Customer identity and business verification required for financial onboarding.
AML
Anti-Money Laundering controls used to detect and prevent illicit fund flows.
Payment Method
A way customers pay, such as cards, wallets, bank transfers, or buy-now-pay-later.
BNPL
Buy Now, Pay Later methods that let customers split purchases into installments.
Payout
An outbound transfer from a business or platform to a supplier, seller, or beneficiary.
Batch Transfer
Sending many payouts in one file or API operation for payroll or marketplace settlements.
Treasury
The practice of managing company cash, FX exposure, liquidity, and payment operations.
Reconciliation
Matching bank, card, and payment records to invoices and ledger entries.
Chargeback
A card payment dispute initiated by a cardholder through their issuing bank.
PCI DSS
Security standards for handling cardholder data; hosted checkout reduces merchant scope.
Virtual Account
An account identifier used to route incoming payments to a specific wallet or ledger.
Mid-Market Rate
The midpoint between buy and sell FX quotes; often used as a fairness benchmark.
Correspondent Banking
Traditional cross-border banking via intermediary banks, typically slower than local rails.
Yield
Interest-like returns earned on eligible idle balances held with a financial platform.