Glossary

The who, what and where of Banked's technology

There are a few terms it's worth familiarising yourself with when using or implementing Banked's platform. A few of these terms are unique to Banked but most are related more generally to payments and account-to-account transfers.

Term

Definition

Provider

This is how we refer to a bank that's supported by our platform

PaymentSession

The core object you create and manage via our API which contains all the information required to submit a payment

Line item

A specific item with a name, description, quantity, and amount to charge. A PaymentSession can contain an arbitrary number of line items

Payee

The individual or business receiving the payment created through Banked - this can be different for each PaymentSession generated, and can be anonymous (i.e. only sort code and account number)

Payer

The individual or business making a payment via Banked

Business

An entity with its own Banked ID, managed via the Banked console

A Banked ID

A unique identifier for an individual or business within Banked

A Payment ID

A unique ID for a payment within the Banked platform

Checkout

The system to process a PaymentSession using a Provider of the Payer's choice

Application

An application allows to logically separate payments within a Business. As such, a Business may have multiple Applications. An Application is scoped to be either Test (only test payments are allowed), or Live (only live payments are allowed).


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