Reference
Enterprise technology glossary
Definitions of the payment, wallet, remittance, ticketing, recruitment and platform delivery terms that appear in enterprise requirements documents — written for both engineering and procurement readers.
28 terms
All terms
Each entry explains what the term means, why it matters operationally, and where it fits in a production platform.
Acquirer
The licensed financial institution that holds the merchant account, receives funds from the card schemes and settles them to the merchant.
Agent network
Third-party locations authorized to serve customers on behalf of an operator, typically for cash collection and payout.
API gateway
The entry point that receives every API request and applies authentication, rate limiting, routing and logging before the request reaches a service.
Beneficiary
The person or account that receives funds in a transfer.
CaaS (Capability as a Service)
A specific capability — such as payment acceptance, wallet issuance or dispatch — delivered as a managed service embedded in the client's own systems.
Chargeback
A forced reversal of a card payment initiated by the cardholder's issuer, usually after a dispute.
Digital wallet
An account that stores value or payment credentials and allows the holder to pay, transfer and receive funds electronically.
Double-entry accounting
A method where every transaction is recorded as equal and opposite entries against at least two accounts, so the books always balance.
Idempotency
A guarantee that repeating the same request produces the same result rather than performing the action twice.
Issuer
The bank or institution that issued the customer's card or account and decides whether to approve each transaction.
KYC (Know Your Customer)
The process of verifying a customer's identity and understanding the purpose of their activity before and during a financial relationship.
Ledger
The immutable record of every financial movement in a system, from which all balances are derived.
Multi-tenancy
An architecture where one application instance serves many customers, with data logically separated per tenant.
Payment authorization
The step where the card issuer or funding provider confirms that funds are available and approves the transaction, reserving the amount without moving it.
Payment capture
The instruction that converts an approved authorization into a request for funds to actually move to the merchant.
Payment orchestration
The layer that routes each transaction across multiple gateways and acquirers using configurable rules, failover and retries.
Private cloud
Cloud infrastructure dedicated to a single organization, often inside that organization's own cloud account.
Processor
The technical provider that transmits transaction data between the gateway, the card schemes and the issuing and acquiring banks.
Reconciliation
The control process that proves internal records, provider reports and bank statements all agree, and isolates the items that do not.
Remittance
A cross-border transfer of funds, typically from an individual in one country to a recipient in another.
SaaS (Software as a Service)
Software delivered as a hosted subscription service, with the provider responsible for infrastructure, upgrades and availability.
Settlement
The actual movement of funds between parties after transactions have been processed.
Single tenancy
An architecture where each customer has a dedicated application instance and database.
Stored value
Funds held in an account on the platform, available to spend, transfer or withdraw.
Tokenization
Replacing sensitive payment credentials with a non-sensitive reference that can be stored and reused without exposing the original data.
Transaction monitoring
Ongoing automated review of transactions against rules and patterns to detect activity requiring investigation.
Webhook
An HTTP callback the platform sends to a client's endpoint when an event occurs, instead of the client polling for changes.
White label
Software built by one company and deployed under another company's brand and customer relationship.