Below you can find the list of the main terms that you are going to face when using API or/and Baas admin panel.
Client - company account. When you login, you create an account for your company and later your clients.
User - a person who has access to the Client (company) account from the frontend. In case you don’t have a frontend, even when creating a user, they won’t be able to access the admin panel. In other words, this feature enables multi login to frontend, but if you use only the admin panel, only one user per company will have the access to it. You can change email login, password and 2fa from the User section, but it will work only for frontend, the backend (admin) credentials are to be changed via request to support team.
Account - payment wallet associated with client or counterparty. It is associated with a particular currency but in terms of payment rails, if there are several options for the same currency, they can be used from within the same account. The credentials associated with the payment account are for deposit only.
Counterparty - external person/company you or your clients want to send funds to. Similar to the Client account, it also consists of the Profile part (information about the person/company) and Account part (wallet associated with particular currency, payment rails and payment details). Unlike client Accounts, counterparty account can have only one type of payment rails, but you can add several accounts to one counterparty profile associated with different payment rails (even if they are of the same currency)
Commission account - previously created account specifically added in the corresponding section to enable crediting commissions to this account. Note that the account you’d like to add as a commission account should be approved before it’s possible for you to add it successfully. Once you add the commission account, please inform us so that we could enable all the functions for it.
Commissions - charges you set for your client’s operations that are transferred to your commission account. They are automatically created as a separate sub-transaction as soon as any type of transaction is created for the client. You can set both individual commissions or default (in the Setting up Commissions section), they can be different based on operation type and payment rails, percentage and fix options are available.
Operations - deposits, withdrawals, exchanges and transfers. Basically, they are money movements between accounts, both internal and external.
Deposit - type of operation initiated by client externally by sending funds to the provided payment details. Once funds are received, we send the information about it to your system, and the corresponding record automatically appears in the Operations list.
Exchange - type of operation initiated by a client to move funds from one account within their client record to another of different currency. To update the status within the test environment, you need to contact us. The status in the prod environment is updated automatically, for the changes to be represented on your side, you will have to poll our system.
Withdrawal - type of operation initiated by a client to move funds to an external account. It is possible only if the destination account is approved within a counterparty record associated with the client’s account.
GUID - user ID
CUID - customer ID
PUID - partner ID
Overall, you need to