​
Collection Account

Account used for payments.

​
Transfer Account

Account used for transfers.

​
IRT Transfer Account

Account used for IRT.

​
IRT (International Remittance Transfers)

The cross-border transfer of funds from one person to another.

​
Payment

A payment (or PAY-IN) is a financial transaction in which money is moved from the user’s account to the merchant’s collection account.

​
Transaction polling

A method of periodically retrieving the status of a transaction by regularly querying an API for updates. Polling vs. Webhooks

​
Balance

Difference between total debit transactions (transfers/pay-outs, withdrawals, fees) and total credit transactions (payments collected/pay-ins, deposits). The difference cannot be negative. Consequently, the balance is a credit balance.

​
Transfer

A transfer (or PAY-OUT) is a financial transaction in which money is moved from the merchant’s transfer account to the user’s account.

​
Webhook

Sending notifications to the merchant when specific events occur. Polling vs. Webhooks

​
IPN

Instant Payment Notification. Webhooks sent by providers to HUB2.

​
KYB

Know Your Business - A declaration in which an aggregator merchant provides informations about a merchant he aggregates. This prior declaration is necessary to use the bank collection feature

​
KYB transaction

Declaration made by a merchant-aggregator when making a bank transfer to HUB2 to refill its account. This information enables HUB2’s teams to check the conformity of the transaction and validate it.

​
KYC

Know Your Customer - A process for verifying the identity of a company’s customers.