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.

Blockchain is a distributed ledger technology that records transactions across multiple computers in a way that makes the record immutable and transparent, enabling faster and cheaper cross-border payments without traditional intermediaries.

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.

Custodial wallets are cryptocurrency wallets where a third party manages your private keys, while non-custodial wallets give users full control over their private keys and therefore their digital assets.

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.

The Ethereum Virtual Machine (EVM) is a decentralized computation engine that executes smart contracts across thousands of nodes on Ethereum and EVM-compatible blockchains.

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.

Fiat money is government-issued currency that derives its value from government regulation and public trust rather than being backed by a physical commodity like gold or silver.

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.

Liquidity management is the process of monitoring and controlling cash flow to ensure a business maintains sufficient liquid assets to meet its short-term financial obligations while optimizing returns on excess cash.

On-ramps and off-ramps are services that facilitate the conversion between fiat currencies (like USD or EUR) and cryptocurrencies or stablecoins, with on-ramps enabling fiat-to-crypto conversion and off-ramps enabling crypto-to-fiat conversion.

A payment API is a programmatic interface that enables applications to initiate, process, and manage financial transactions without building payment infrastructure from scratch, connecting to payment rails like ACH, wire transfers, or stablecoin networks.

Payment reconciliation is an accounting process that compares internal payment records with external bank statements and payment processor reports to verify that all transactions are accurate and properly recorded.

A Payment Service Provider (PSP) is a third-party company that enables businesses to accept electronic payments through multiple methods including credit cards, debit cards, digital wallets, and bank transfers.

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.

Stablecoins are digital currencies designed to maintain stable value by pegging to fiat currency like the US dollar, enabling instant cross-border transactions that settle in seconds rather than days through traditional banking rails.

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.

VASP (Virtual Asset Service Provider) is any entity that conducts business activities involving virtual assets such as cryptocurrencies, including exchanges, wallet providers, custodians, and payment processors.

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.