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Glossary

A • B • C • D • E • F • H • I • K • M • N • O • P • Q • R • S • T • V • W

A​

Account​

A registered entity on the BVNK platform that manages wallets, processes payments, and oversees API credentials. In the Direct model, an account identifies the business contracting directly with BVNK. See Select your delivery model.

Address​

Also, a blockchain address or a crypto address. A unique identifier on a specific blockchain network where digital assets can be sent or received. See Integrate Channels.

Associate​

A person linked to a business customer during onboarding, such as a director, ultimate beneficial owner (UBO), or authorised representative. At least one representative, UBO, and a director must be specified when onboarding a business customer. See Business requirements.

B​

Balance​

The amount of funds available in a wallet. A balance includes the currency code and the current value. Each wallet maintains its own balance, which is updated as transactions are processed. See List Wallet Balances.

Beneficiary​

The entity that receives the transaction. Can be an individual or a business. See Verify Beneficiary's Name.

Blockchain address​

The destination for a crypto payout. A blockchain address is a unique identifier on a specific blockchain network where digital assets are sent. See Initiate Payout.

C​

CDD​

Customer due diligence is the process of collecting and verifying customer information during onboarding. This includes employment status, source of funds, intended use of account, and politically exposed person (PEP) status. See Individual requirements.

Channel​

A dedicated, permanent, and unique address that can receive crypto funds at any time. Opposed to a temporary address that can be used for a single transaction. See Integrate Channels and Create Channel.

Crypto​

A cryptocurrency is a digital currency that uses cryptography for security. It is decentralised and operates independently of a central bank. See Currencies.

Crypto gateway​

BVNK's crypto payment processing service that handles the creation and management of crypto payments through Payment Links. It supports pay-ins, payouts, and fiat-to-crypto and crypto-to-fiat currency conversions. See Create Payment.

Customer​

Previously called Embedded Partner Customer (EPC). Legacy terms also include nested or underlying customers.

An individual or business that uses BVNK's services through a partner. See Create a customer.

Customer fee​

An optional markup that a partner adds to customer transactions. Customer fees are distinct from transaction amounts and BVNK processing fees, and are withdrawn from the customer's wallet to the partner's designated fee wallet. See Charge customer fees.

D​

Digital asset​

A cryptocurrency asset or a stablecoin. See Currencies.

Direct model​

A delivery model where BVNK has a direct relationship with a partner. See Select your delivery model.

E​

Embedded model​

A delivery model where BVNK embeds its services into a partner's platform. See Select your delivery model.

Endpoint​

Also called an API endpoint. A URL used to send requests to BVNK's servers. See API overview.

F​

Fiat​

A government-issued currency that is not backed by a physical commodity, such as USD, EUR, or GBP. BVNK supports fiat currencies for pay-ins, payouts, and conversions to and from crypto. See Currencies.

H​

Hosted payments page​

Or Hosted page. A hosted checkout experience embedded in your platform interface. See Integrate Payment Links.

I​

Idempotency​

A property of certain API endpoints that lets you safely retry requests without duplicating actions. To use idempotency, include a unique X-Idempotency-Key header (or Idempotency-Key for v2 endpoints) with your request. Only successful requests are cached; failed requests may be retried without risk of conflict. See Idempotency.

K​

KYC/KYB​

Know your customer (KYC) and know your business (KYB). Verification processes that BVNK performs to confirm the identity and legitimacy of individual and business customers during onboarding. These checks are a regulatory requirement and a critical component of the risk management process. See Individual requirements and Business requirements.

M​

Mass payouts​

A function enabling you to upload a CSV file and trigger multiple payouts in a single batch.

Merchant​

The legacy term for a partner that uses BVNK's services directly. Same as Account. See Create Merchant ID.

Metadata​

Additional information about a transaction included in a request or response. See Metadata.

{
    "metadata": {
        "orderId": "PO-2025-001",
        "internalUserId": "user-456",
        "reason": "Customer withdrawal"
    }
}

N​

Network​

A blockchain protocol used to process crypto transactions. BVNK supports multiple networks, including Ethereum, Tron, Solana, and Bitcoin. The network affects transaction speed, fees, and confirmation requirements. See Currencies.

O​

Onboarding​

The process of setting up a customer to use BVNK's services integrated into the partner's platform. The onboarding process typically involves a collaborative review by BVNK's Compliance and Onboarding teams to ensure full adherence to Know Your Business (KYB) standards. See Gather compliance data for onboarding.

On-ramp​

A service that allows you to buy crypto with fiat currency. See Convert funds (on-ramp).

Originator​

The entity that initiates the transaction. For example, a customer who wants to buy crypto with fiat currency. See Provide additional party information.

P​

Partner​

Formerly, an Embedded Partner or EP. Anyway, that's... You for BVNK.

A Business that embeds BVNK's services into their platform for themselves or their customers. See Add customers.

Pay-in​

A request to move fiat funds from a customer to your wallet. See Receive payments.

Payout​

A request to move crypto funds from your wallet to the beneficiary. See Send stablecoin payments and Initiate Payout.

A link created and shared via the BVNK API to collect crypto pay‑ins and process payouts. See Integrate Payment Links and Create Payment.

Payments API​

BVNK's API for integrating crypto and fiat payments into a partner's platform. The Payments API supports pay-ins, payouts, conversions, and channels. See API overview.

Peg​

Also, pegged. A fixed value relationship between a stablecoin and a fiat currency, where the stablecoin maintains a stable exchange rate relative to the fiat currency. For example, USDC is pegged to USD at a 1:1 ratio.

Processing fee​

A fee charged by BVNK for processing the transaction.

Q​

Quote​

A price estimate for converting currency between wallets. A quote includes the exchange rate, the amount to be converted, and an expiry time. You can create an estimate quote to preview the conversion, or create and accept a quote to execute the conversion. See Create Quote.

R​

Refund​

A request to reverse a payment. It is initiated by the originator and is processed by the beneficiary. See Refund payments and Refund Pay-in.

Reference​

A unique identifier for a transaction. BVNK may use the following fields to reference a transaction:

  • paymentReference: Actual description of the payment. The reference text is propagated along with the transfer, so the beneficiary could see it.
  • customerReference: Unique identifier of the customer. If the underlying customer is provided, this field would contain customerId called customerReference on the BVNK side.
  • transactionReference: Unique transaction ID generated by BVNK.

S​

Stablecoin​

A cryptocurrency that is pegged to a fiat currency or a commodity. For example, USDC, USDT, etc. See Currencies.

T​

Transaction​

A record of a financial operation processed through BVNK, such as a pay-in, payout, fee, internal transfer, or channel deposit. Each transaction includes an amount, currency, status, and a unique identifier. See Reconcile transactions and List Transactions.

Transfer​

Also, internal transfer. A transfer between two wallets within the same account. See Create internal transfer and API endpoint: Create Internal Transfer.

Travel rule​

A regulatory requirement under the EU's MiCA regulation that extends traditional payment information-sharing standards to crypto and stablecoin transactions. The travel rule requires collecting and sharing information about the parties involved in a transaction, such as the originator and beneficiary. See Provide additional party information.

V​

Virtual Account​

A BVNK-managed payment account that includes a virtual IBAN (vIBAN) and a wallet. Virtual accounts are used to send, hold, and receive funds in one place. See Virtual accounts overview.

Verification of Payee (VoP)​

VoP is a Single Euro Payments Area (SEPA) service that verifies a beneficiary's name against their IBAN to prevent fraud and errors. See Send fiat payments.

W​

Wallet​

A container that stores value and maintains balances in either fiat or crypto. You can connect various payment instruments, such as crypto addresses, to a wallet. Wallets are the core building block for processing payments, conversions, and transfers in BVNK. See Create a wallet and Create Wallet.

Wallet profile​

A configuration that defines the currency codes and payment methods available for a wallet. Wallet profiles are assigned when a wallet is created and determine which payment rails the wallet can use. See Assign a wallet profile and List Wallet Profiles.

Webhook​

A URL that allows you to receive notifications from BVNK. See Create webhook listener for more information.

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