ACH (Automated Clearing House) is a US electronic payment network that processes bank-to-bank transfers in batches, including direct deposits, bill payments, and business transactions.

A centralized exchange (CEX) is a cryptocurrency trading platform operated by a company that acts as an intermediary between buyers and sellers, managing user accounts, custody of assets, and order matching through centralized infrastructure.

A decentralized exchange (DEX) is a cryptocurrency trading platform that enables peer-to-peer trading without requiring users to deposit funds with a centralized intermediary, using smart contracts to facilitate trades directly from user wallets.

Electronic Funds Transfer (EFT) is an umbrella term for any digital transfer of money between bank accounts without using cash or paper checks, including ACH transfers, wire transfers, debit card payments, and ATM transactions.

FedNow is an instant payment system operated by the Federal Reserve that settles transfers between US banks in seconds, operating 24/7/365 with transaction limits up to $500,000.

Know Your Customer (KYC) is a regulatory compliance process that requires financial institutions to verify the identity of their customers before providing services, designed to prevent money laundering, fraud, and terrorist financing.

Pix is an instant payment platform created and operated by the Central Bank of Brazil that enables real-time transfers in Brazilian real 24/7 with no fees for individuals.

RTP (Real-Time Payments) is a US instant payment network operated by The Clearing House that settles bank-to-bank transfers in seconds, available 24/7 year-round.

SEPA (Single Euro Payments Area) is a unified payment network that standardizes euro bank transfers across 36 European countries, enabling businesses and individuals to send EUR payments as easily as domestic transactions.

SPEI is an instant payment platform created and operated by the Banco de México (Mexico's central bank) that enables real-time transfers in Mexican pesos 24/7 with minimal or no fees for most users.

SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a global messaging network that banks use to send secure payment instructions for international transfers.

A virtual account is a unique account number assigned within a traditional bank account that enables businesses to track and reconcile payments automatically without opening multiple physical accounts.

A wire transfer is a bank-to-bank payment method that moves funds electronically through networks like Fedwire (domestic US) or SWIFT (international), typically settling within hours domestically or one to five business days internationally.