Reference

The language of the platform, defined.

Payments, treasury and settlement terminology as it is used across Jigzo — each term defined within canon.

AML/CTF: Anti-money-laundering (AML) and counter-terrorist-financing (CTF) are the legal and regulatory obligations that require financial firms to detect, prevent and report the use of their services to launder criminal proceeds or finance terrorism.
Apple Pay / Google Pay provisioning: Provisioning is the process of adding a payment card to a mobile wallet such as Apple Pay or Google Pay, so it can be used to pay from a phone or watch.

BACS: Bacs (Bankers' Automated Clearing Services) is a long-established UK payment system used for electronic bank-to-bank transfers, best known as the network behind Direct Debit and Direct Credit.
Banking-as-a-Service (BaaS): Banking-as-a-Service (BaaS) is a model in which a licensed financial institution makes its banking capabilities — accounts, payments, cards and compliance — available to non-bank businesses, enabling them to offer financial services under their own brand.
Base price: A base price is the underlying cost or rate of a product or service before any margin is added — the starting figure on top of which a final price is built.
Batch payment: A batch payment is a set of individual payments grouped into a single file or instruction and submitted together, so they are processed as one operation rather than one by one.
Bulk payment: A bulk payment is the practice of sending a high volume of individual payments — often to many different recipients — through a single, efficient process rather than one at a time.

CHAPS: CHAPS (Clearing House Automated Payment System) is the UK's real-time gross settlement system for high-value and time-critical sterling payments, processed individually and settled the same day.
Cryptocurrency settlement: Cryptocurrency settlement is the use of digital assets — typically stablecoins — to complete a payment or discharge an obligation between parties, moving value on blockchain networks.

Faster Payments: Faster Payments is the UK payment system that moves sterling between bank accounts in near real time, around the clock, for everyday and lower-value transfers.

KYB: Know Your Business (KYB) is the process by which a regulated firm verifies the identity, ownership and legitimacy of a business customer before providing it with financial services.

Mark-up: A mark-up is the margin added on top of a base price to reach the final price charged — the difference between what something costs to provide and what it is sold for.
MLRO: A Money Laundering Reporting Officer (MLRO) is the senior individual a regulated firm appoints to take responsibility for its anti-money-laundering programme and to act as the point of contact with the authorities.
Multi-currency account: A multi-currency account is a single account that can hold, receive and send money in more than one currency, without needing a separate account for each.
Multi-tenancy: Multi-tenancy is a software architecture in which a single platform serves many separate customers ("tenants") from shared infrastructure, while keeping each tenant's data and configuration isolated from the others.

Named IBAN: A named IBAN is an International Bank Account Number issued in the account holder's own name, rather than a shared or pooled identifier — so payments are clearly attributable to that holder.

Onramp / offramp: An on-ramp is the process of converting traditional currency into digital assets; an off-ramp is the reverse — converting digital assets back into traditional currency.

P2P transfer: A peer-to-peer (P2P) transfer is a direct payment of money from one person or account to another, without a merchant or intermediary sitting between them as the recipient.
Payment corridor: A payment corridor is a specific route along which money flows between two countries or regions — for example, the UK-to-India or US-to-Mexico corridor.
Payment rail: A payment rail is the underlying infrastructure or network that moves money from one party to another — the "track" a payment runs on between banks, businesses and individuals.

Real-time FX: Real-time FX is the conversion of one currency into another at live, current market exchange rates, applied instantly at the moment of a transaction.

Safeguarding: Safeguarding is the regulatory requirement for certain financial firms — such as e-money and payment institutions — to protect customer funds by keeping them separate from the firm's own money.
SEPA: SEPA (the Single Euro Payments Area) is a European initiative that makes euro payments between participating countries as simple and standardised as domestic ones.
SEPA Instant: SEPA Instant (SEPA Instant Credit Transfer) is the real-time version of SEPA, moving euros between accounts across participating European countries in seconds, at any time.
Stablecoin: A stablecoin is a type of cryptocurrency designed to hold a steady value by pegging it to a reference asset — most often a fiat currency such as the US dollar or euro.
SWIFT: SWIFT is the global messaging network banks use to communicate payment instructions securely across borders — the backbone of most international bank transfers.

TARGET2: TARGET2 is the real-time gross settlement system operated by the Eurosystem for high-value euro payments between banks — the euro area's equivalent of a national RTGS system.
Third-party payment: A third-party payment is a payment that involves someone other than the account holder — money moving to or from a party who is not the person or business that owns the account.
Transaction monitoring: Transaction monitoring is the ongoing process of examining payments and account activity to detect patterns that may indicate money laundering, terrorist financing, fraud or other financial crime.
Treasury: Treasury is the management of an organisation's money — its cash, liquidity, currency exposure and funding — to ensure it has the right funds, in the right currency, in the right place, at the right time.

USDC: USDC (USD Coin) is a US-dollar stablecoin issued by Circle, designed to hold a value of one dollar by being fully backed by cash and short-term US government reserves.
USDT: USDT (Tether) is a US-dollar stablecoin issued by Tether, designed to hold a value of one dollar and among the most widely used digital assets by volume.

Virtual card: A virtual card is a payment card issued digitally, with no physical plastic — a card number and details that exist only electronically, usable online and in mobile wallets.

White-label vs branded: White-label and branded describe two ways of offering a product: white-label means selling another provider's capability under your own brand, while branded means the capability carries the original provider's name.

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