Several elements of the glossary are based on the terminology defined by the levelone project and ITU DFS Glossary
Authentication The validation of user credentials for the purpose of system login and basic access.
Authorization The permission given by the Payer or entity to make a Payment.
Beneficiary non referring to a payee of a program.
Bulk Payments A Payment from a single Payer to multiple Payees, for example cash transfer programs from a government or NGO to a set of beneficiaries.
End User The customer of a digital financial services provider. the customer may be a consumer, a merchant, a government, or another form of enterprise.
Financial Management Information System: FMIS is the budget management system of the government treasury, which ensures that government (Ministries, Department, Agencies)) payments are processed within the approval budget and releases.
Financial Services Providers (FSPs) A financial services provider refers to one that is licensed by a regulatory authority to provide transaction accounts which hold customer funds and are used to make and receive payments. DFSPs have relationships with consumers, merchants, and other enterprises, and provide digital financial services to End Users.
Interoperability The ability of DFSPs participating in a payment Scheme to exchange Transactions with each other. The term may also be used when two systems interconnect.
Mapper or Account Lookup Directory Service A dynamic directory matching beneficiaries’ unique identifier and their account numbers enable multiple programs to direct payments to the same account and beneficiaries to switch payment service providers. The identifier can be a national ID, phone number, or other number or alias that can uniquely identify individuals across social protection and financial sector databases.
Mobile Money (MoMo) A mobile money service includes transferring money and making and receiving payments using the mobile phone. The service must be available to the unbanked, e.g. people who do not have access to a formal account at a financial institution. The service must offer a network of physical transactional points which can include agents, outside of bank branches and ATMs, that make the service widely accessible. Mobile banking or payment services (such as Apple Pay and Google Wallet) that offer the mobile phone as just another channel to access a traditional banking product are not included.
Mobile Money Services Provider A category of DFSPs that use mobile phones as the access method to provide transaction Accounts to End Users.
Payee The recipient of funds in a payment transaction.
Payer The person/organization whose account is debited in a payment transaction
Payment An exchange of funds, credentials, and other necessary information to complete an obligation between End Users. A transfer is an example of a payment.
Payment Alias/Payment address Alias may include phone numbers, email addresses, or other handles. They may include globally unique URIs, and may be chosen by the user. These are increasingly seen in new payment systems. Within systems, the payment alias points to an underlying payment account address, specifically and uniquely located within a payment scheme. A payment address may be different from the underlying account address, depending on the payment scheme rules but is often the same thing.
Quick-Response (QR) Code A method of encoding and visualization of data, which are machine-readable. There are multiple QR models.
Routing The process by which a route to a payment address is determined. The mechanism of sending payment information across different systems. This is sometimes used interchangeably with addressing.
Transaction A reference to the entirety of the exchange, including a Payment but may also include information between the Payer’s DFSP and the Payee’s DFSP.
Treasury Single Account A TSA is a unified structure of government bank accounts that gives a consolidated view of government cash resources. Based on the principle of unity of cash and the unity of treasury, a TSA is a bank account or a set of linked accounts through which the government transacts all its receipts and payments. The principle of unity follows from the fungibility of all cash irrespective of its end use. While it is necessary to distinguish individual cash transactions for control and reporting purposes, this purpose is achieved through the accounting system and not by holding/depositing cash in transaction specific bank accounts. This enables the treasury to delink management of cash from control at a transaction level.
Voucher A token that entitles the holder to a discount or that may be exchanged for goods or services
Voucher Group A voucher group is a characteristic of a voucher that restricts the function or use case that a voucher can be used for. It can also be used a dimension for reporting on