{"id":204,"date":"2024-02-14T15:07:57","date_gmt":"2024-02-14T15:07:57","guid":{"rendered":"https:\/\/www.devengo.com\/?page_id=204"},"modified":"2024-03-20T07:40:52","modified_gmt":"2024-03-20T07:40:52","slug":"glossary","status":"publish","type":"page","link":"https:\/\/www.devengo.com\/en\/glossary\/","title":{"rendered":"Glossary"},"content":{"rendered":"<div class=\"cm-glossary\"><div class=\"glossary-container \"><input type=\"hidden\" class=\"cmtt-attribute-field\" name=\"glossary_index_style\" value=\"classic\"><div id=\"glossaryList-nav\" class=\"listNav \" role=\"tablist\"><\/div><ul class=\"glossaryList\" role=\"tablist\" id=\"glossaryList\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTermSet\"><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/account-holder\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Account holder&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Refers to the individual, business or entity that owns and maintains an account with a financial institution. They have the rights to deposit, withdraw and manage funds or transactions associated with that account. &amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">Account holder<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/ach\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;ACH&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Automatic Clearing House: An electronic system, normally owned by banks,  that facilitates diverse financial transactions in a given jurisdiction. It serves as a centralised platform for securely and efficiently transferring funds between accounts at different financial institutions.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">ACH<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/aisp\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;AISP&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Account Information Service Provider: A regulated service provider authorised to connect to a person&amp;#039;s bank account and use their account information to provide a service, like credit checking, a PFM (personal finance management application), etc.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">AISP<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/aml\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;AML&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Anti-Money Laundering: policies, laws, and regulations to prevent financial crimes and other illegal activity. Different regulators establish global and local policies that financial services and companies need to obey.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">AML<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/aml-cft\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;AML\/CFT&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Anti-Money Laundry\/Combating the Financing of Terrorism: Official name for what we normally call AML.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">AML\/CFT<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/aml-manual\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;AML Manual&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;The document that explains how a company fights financial crime, including the company&amp;#039;s departments, tools and policies.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">AML Manual<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/beneficiary\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Beneficiary&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;The account holder of the account receiving a credit transaction. Also known as creditor.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">Beneficiary<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/bic\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;BIC&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Bank Identifier Code: Is the international identifier generated by SWIFT for each financial institution that identifies them in international transactions.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">BIC<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/clearance\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Clearance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;In banking and finance, clearing denotes all activities from the time a commitment is made for a transaction until it is settled. Also known as a Settlement.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">Clearance<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/cop\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;CoP&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Confirmation of Payee: is a security feature implemented in the banking industry to enhance the verification process and reduce fraud for electronic payments, confirming the payer the real identity of the payee before approving the payment.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">CoP<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/credit\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Credit&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;In payments, when you say you credit an account means that you have added money to it, that means,&nbsp; resulting in an increase in the account balance. The opposite is debit.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">Credit<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/creditor\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Creditor&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;The account holder of the account receiving a credit transaction.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">Creditor<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/debit\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Debit&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;In payments, when you say you debit an account means that you have removed money to it, that means, resulting in a decrease in the account balance. The opposite is credit.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">Debit<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/debtor\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Debtor&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;The account holder of the account receiving a debit transaction.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">Debtor<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/eba-clearing\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;EBA Clearing&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Owned a consortium of major European banks, EBA Clearing is a major European provider of payment infrastructure solutions. Operating the pan-European automated clearing house (see ACH) system it facilitates the efficient processing of cross-border euro payments.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">EBA Clearing<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/eba-euro-banking-association\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;EBA (Euro Banking Association)&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;a nonprofit organisation founded by European banks to facilitate the communication and collaboration in the European banking industry. The EBA focuses on promoting efficiency, innovation, and standardisation in payments.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">EBA (Euro Banking Association)<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/eba-european-banking-authority\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;EBA (European Banking Authority)&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;An autonomous EU agency dedicate to promoting harmonised banking standards and supervisory practices across EU member states. The EBA develops regulatory guidelines, conducts stress tests, and advises EU institutions to maintain a robust and integrated European banking sector.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">EBA (European Banking Authority)<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/ecb\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;ECB&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;European Central Bank: The prime component of the Eurosystem and the European System of Central Banks as well as one of seven institutions of the European Union. Its main function is the EU&amp;#039;s monetary policy and the final supervisor of the banking regulation.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">ECB<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/emi\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;EMI&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Electronic Money Institution: is one of the three common types of financial institutions related to payments (with credit institutions and payment institutions) is a company regulated by a Central Bank authorised to issue and manage e-money that can be used to make payments in other stores&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">EMI<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/epc\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;EPC&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;European Payment Council: created by the European banking industry, it is a decision-making organisation with representatives from European banks and banking associations to promote and develop payment schemes within SEPA. The EPC is crucial in developing the SEPA payment schemes and promoting their adoption by banks and other payment service providers in the region.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">EPC<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/iban\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;IBAN&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;International Bank Account Number: IBAN is a standardised international system for identifying bank accounts in cross borders\/international transactions. It consists of a series of alphanumeric characters that uniquely identify a specific bank account including account information but also country and banking institution.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">IBAN<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/iso20022\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;ISO20022&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;A International Standard prepared by ISO Technical Committee TC68 for Financial Services. It defines messages for all kind of financial transactions and it&rsquo;s being used in most common systems defined lately, like all the SEPA schemes (SCT, SCT Inst, SDD, etc.)&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">ISO20022<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/ledger\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Ledger&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;A book where transactions for a given account are stored to maintain an accurate record of its activity. It has an initial balance, a list of credit\/debit transactions in chronological order and a final or carry-forward balance.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">Ledger<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/pisp\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;PISP&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Payment Initiation Service Provider: A regulated service provider who can prepare a payment for execution on behalf of a customer that will only need to sign the operation. It&rsquo;s commonly used by eCommerce companies to allow the payment of orders with a wire transfer.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">PISP<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/psp\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;PSP&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Payments Service Provider: is a legal person providing payments services (e.g. issuing cards, acquiring payments, the authorisation of transactions) enabling the transfer of money between end users.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">PSP<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/sct\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;SCT&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;SEPA Credit Transfer: Is the SEPA scheme that defines the interbank messages to execute traditional\/slow credit transfers.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">SCT<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/sct-inst\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;SCT Inst&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;SEPA Credit Transfer Instant: Is the SEPA scheme that defines the interbank messages to execute instant credit transfers. And by instant we mean that they are settled\/credited in that moment (&amp;amp;lt;10 seconds), not just approved.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">SCT Inst<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/sepa\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;SEPA&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Single Euro Payments Area: is an initiative from the European Union to harmonise electronic payments inside the Euro area although almost all countries in Europe are now part of SEPA.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">SEPA<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/settlement\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Settlement&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;The final step of payment processing when the transaction can be considered completed. It happens only after confirmation, the clearing and of course the actual exchange of the funds. In instant payments it happens in seconds while in traditional\/regular payments it can take a few days.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">Settlement<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/srtp\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;SRTP&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;SEPA Request To Pay: Is a SEPA scheme defined by the European Payment Council (see EPC) that covers the set of operating rules and technical elements that allow a Payee to request the initiation of an online payment from a Payer. SRTP is just a messaging functionality that will end in the execution of a payment, normally a SCT Inst. Payment.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">SRTP<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/swift\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;SWIFT&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;Society for Worldwide Interbank Financial Telecommunication: Is a cooperative society owned by its members (credit institutions) that maintains a global and secure messaging network used by financial institutions and their corporate customers for all kinds of financial transactions, especially international payments.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">SWIFT<\/span><\/a><\/li><li class=\"\"  itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" ><a href=\"https:\/\/www.devengo.com\/en\/glossary\/swift-code\/\"  role=\"term\" class=\"glossaryLink glossary-link-title \"   style=\"\"   itemprop=\"url\"  aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;SWIFT Code&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;&amp;lt;!-- wp:paragraph --&amp;gt;See BIC. Term used before BIC was more commonly used.&amp;lt;br\/&amp;gt;&amp;lt;!-- \/wp:paragraph --&amp;gt;&lt;\/div&gt;\"><span itemprop=\"name\">SWIFT Code<\/span><\/a><\/li><\/ul><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"ppma_author":[5],"class_list":["post-204","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.devengo.com\/en\/wp-json\/wp\/v2\/pages\/204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.devengo.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.devengo.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.devengo.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.devengo.com\/en\/wp-json\/wp\/v2\/comments?post=204"}],"version-history":[{"count":1,"href":"https:\/\/www.devengo.com\/en\/wp-json\/wp\/v2\/pages\/204\/revisions"}],"predecessor-version":[{"id":505,"href":"https:\/\/www.devengo.com\/en\/wp-json\/wp\/v2\/pages\/204\/revisions\/505"}],"wp:attachment":[{"href":"https:\/\/www.devengo.com\/en\/wp-json\/wp\/v2\/media?parent=204"}],"wp:term":[{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.devengo.com\/en\/wp-json\/wp\/v2\/ppma_author?post=204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}