>Glossary of fintech,>from payments to digital assets

A glossary to clarify the terms used in embedded financial services and fintech infrastructures.

Payment account

An account used to execute payment transactions within a regulated framework. It is held by a payment institution, unlike a bank deposit account.See the page

IBAN

International Bank Account Number: the standardised international identifier of an account. An IBAN can be attached to a payment account; it does not imply the account is a bank account.See the page

Payment Institution (PI)

A company licensed by a supervisory authority (in France, the ACPR) to provide payment services. A PI is not a bank.See the page

Payment institution agent

A company carrying out certain payment activities on behalf of a licensed payment institution, within a contractual and supervised framework, without holding the licence itself.See the page

Grey label

An integration model where the partner owns the experience, with components and provider visibility defined in the contract. It is not a regulatory status, and Tractial’s licence is not transferred.See the page

Embedded finance

Integrating financial services directly into a non-financial product’s journey (business software, a marketplace) rather than in a separate banking application.See the page

PSFP

European crowdfunding service provider: a licensed actor providing crowdfunding services under the EU regime. A PSFP licence is not, on its own, a right to provide payment services.See the page

Fintech-as-a-Service (FaaS)

A model where a fintech infrastructure is made available to partners who build their own offering on top, via API, white label or agent status.

KYC

Know Your Customer: the process of verifying an individual’s identity, required to access regulated financial services.See the page

KYB

Know Your Business: the equivalent of KYC for companies: verifying legal existence, beneficial owners and activity.See the page

Wallet

A means of tracking or managing digital value attached to a user. Where digital assets are involved, a specific regulatory framework applies.See the page

Stablecoin

A crypto-asset designed to maintain a stable value by referencing a currency. Used as an infrastructure component for certain settlements and transfers; its issuance and distribution are governed by European regulation.See the page

Crypto ramp

A conversion gateway between legal tender and digital assets: on-ramp (euro to digital asset) and off-ramp (digital asset to euro).See the page

Reconciliation

Matching payment transactions with the corresponding business data (invoices, orders).See the page