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 utilize the bank transfer refill 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.