Glossary

Here are the definition of various terms used on the platform.

Term Name	Definition
Client	The corporate or legal entity that is the client of Synthix Flow, as detailed in the client onboarding form.
Primary Authorised User (PAU)	Users appointed by the Client to administer the account.
User	A user of the platform.
Counterparty	A customer or vendor of the Client.
Debtor	A counterparty that is the debited party, for e.g. on a Direct Debit mandate.
OTP	One-Time Password.
2FA	Two Factor Authentication.
Payables Portal	The Payables Portal is a central hub where counterparties can view their invoices and pay securely using their preferred payment method.
Payout Link	This link provides counterparty an ability to submit and verify account details, where they like to receive the payment.
Collection Link	This link provide counterparty an ability to select a preferred payment method and send money to the Client.
Initiator/Approver	The Initiator creates and submits the payment request, while the Approver reviews and authorizes it before processing.
CB Connect	Deustche Bank's API Platform.
Certificate Authority	A Certificate Authority (CA) is a trusted organization that verifies identities and digitally signs certificates so others can trust the public keys inside them.
Digital Certificate	A digital certificate is a certification authority signed file that links a public key to a verified identity so others can trust the key.
Smart Debits	An automated recurring debit service that uses a counterparty registered Direct Debit mandate to collect payments on predefined dates.
NPCI	National Payment Corporation of India operates and manages India’s major payment systems and ensures safe, fast, and interoperable digital payments across the country.
DD	Direct Debits.
NACH	National Automated Clearing House.
Mandate	Counterparty's signed permission that allows a business or bank to automatically debit money from their account whenever payments are due. These mandates are registered with NPCI.
Digio	Digio mandate management, through its DigiCollect platform, digitizes and automates recurring payments (like NACH) for businesses
Retry Rule	Defines how many times a failed direct debit can be retried (number of retries) and the gap between each attempt (retry interval).
SEPA	Single Euro Payments Area.
IFSC	Indian Financial System Code to identify individual bank branches in India.
IBAN	International Bank Account Number - identifier for individual bank accounts across different countries, used primarily for cross-border payments
BIC	Bank Identifier Code - to identify specific banks or financial institutions globally.
Wallet	A digital account that lets users store funds and pay instantly using app-based balances.
Account-to-Account	Enables direct money transfers between bank accounts without intermediaries.
Cards	Facilitates payments through credit, debit cards issued by financial institutions.
Direct Debit	Automatically withdraws funds from a payer’s bank account on a set schedule for recurring payments.
ERP	Enterprise Resource Planning - software that helps a business keep all its important work—like accounting, buying, selling, and managing employees.
CRM	Customer Relationship Management - software that helps a company manage its customers and improve communication and sales.
4-eye check	Transaction must be reviewed and approved by two different people to ensure accuracy and prevent errors or fraud.