Simplifying financial terms
Our glossary makes it easy for anyone to understand key terms and concepts in the financial infrastructure landscape
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Glossary
Cards payment
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An institution that enables merchants to accept card payments, facilitating the transfer of funds from the customer's bank to the merchant's account.
An entity that handles the technical processing of transactions between merchants and financial institutions, ensuring smooth and secure payment processing.
The initial digits of a payment card number that identify the issuing bank or financial institution, essential for routing transactions and fraud prevention.
An entity that provides the initial digits of payment card numbers, identifying the issuing bank or financial institution, crucial for card network operations.
Global entities that establish standards for card-based transactions, facilitating the secure transfer of funds between parties.
A payment instrument that provides users with a line of credit from a financial institution, allowing purchases to be paid back at a later date.
A payment instrument linked directly to a bank account, enabling users to make purchases and withdraw cash with direct debits.
The bank or financial institution that issues payment cards to consumers, granting access to credit or funds with repayment obligations.
A company that manages the technical aspects of issuing payment cards, ensuring their functionality and security in compliance with industry standards.
A local payment network in Saudi Arabia that connects banks and merchants, enabling seamless card and digital wallet transactions nationwide.
An application in Saudi Arabia that facilitates secure and convenient payments using mada cards or digital wallets, enhancing consumer payment experiences.
A digital interface that securely connects online shopping carts to banks or card companies, facilitating the processing of payments during online purchases.
A payment instrument loaded with a predetermined amount of funds in advance, limiting spending to the prepaid balance.
The process of replacing sensitive card information with a unique identifier (token), enhancing payment security by preventing exposure of card details.
Transfer payment
An electronic payment system in the United States that facilitates batch processing of financial transactions like direct deposits and bill payments.
An organization or system that facilitates the exchange and settlement of payments between banks or financial institutions.
A secure messaging network used globally by banks and financial institutions to facilitate cross-border money transfers.
A payment infrastructure that facilitates the transfer of money between financial institutions, ensuring transactions are routed securely and efficiently.
Payment transactions that are processed immediately, allowing funds to be transferred and accessed in real time, typically within seconds.
An electronic method of transferring funds between banks or financial institutions, commonly used for large or international transactions.
General payment
Intermediary companies that facilitate secure and efficient processing of card and digital payments between merchants and financial institutions.
An infrastructure component that routes payment requests to the appropriate financial institutions or networks for transaction processing.
Ledgering
A bookkeeping system where every transaction affects two accounts—one debit and one credit—so that the accounting equation stays balanced. It helps ensure accuracy by tracking both where money comes from and where it goes.
The central record-keeping system for all financial transactions within a business. It summarizes and categorizes transactions from all accounts, providing a complete view of financial activity.
Compliance
A regulatory process used by financial institutions to verify the identity of their clients. It helps ensure customers are who they say they are and reduces the risk of fraud, money laundering, and other financial crimes.
Risk
The process of identifying and preventing suspicious or unauthorized activity in financial systems. It uses data analysis, rules, and machine learning to spot patterns that may indicate fraud.
Industry
The central software used by banks to manage their day-to-day operations—such as opening accounts, processing transactions, managing loans, and maintaining customer records—all in real time.
The integration of financial services—like payments, lending, or insurance—into non-financial platforms or apps, allowing users to access these services directly within the experience they’re already using.
An institution that enables merchants to accept card payments, facilitating the transfer of funds from the customer's bank to the merchant's account.
An entity that handles the technical processing of transactions between merchants and financial institutions, ensuring smooth and secure payment processing.
The initial digits of a payment card number that identify the issuing bank or financial institution, essential for routing transactions and fraud prevention.
An entity that provides the initial digits of payment card numbers, identifying the issuing bank or financial institution, crucial for card network operations.
Global entities that establish standards for card-based transactions, facilitating the secure transfer of funds between parties.
A payment instrument that provides users with a line of credit from a financial institution, allowing purchases to be paid back at a later date.
A payment instrument linked directly to a bank account, enabling users to make purchases and withdraw cash with direct debits.
The bank or financial institution that issues payment cards to consumers, granting access to credit or funds with repayment obligations.
A company that manages the technical aspects of issuing payment cards, ensuring their functionality and security in compliance with industry standards.
A local payment network in Saudi Arabia that connects banks and merchants, enabling seamless card and digital wallet transactions nationwide.
An application in Saudi Arabia that facilitates secure and convenient payments using mada cards or digital wallets, enhancing consumer payment experiences.
A digital interface that securely connects online shopping carts to banks or card companies, facilitating the processing of payments during online purchases.
A payment instrument loaded with a predetermined amount of funds in advance, limiting spending to the prepaid balance.
The process of replacing sensitive card information with a unique identifier (token), enhancing payment security by preventing exposure of card details.
An electronic payment system in the United States that facilitates batch processing of financial transactions like direct deposits and bill payments.
An organization or system that facilitates the exchange and settlement of payments between banks or financial institutions.
A secure messaging network used globally by banks and financial institutions to facilitate cross-border money transfers.
A payment infrastructure that facilitates the transfer of money between financial institutions, ensuring transactions are routed securely and efficiently.
Payment transactions that are processed immediately, allowing funds to be transferred and accessed in real time, typically within seconds.
An electronic method of transferring funds between banks or financial institutions, commonly used for large or international transactions.
Intermediary companies that facilitate secure and efficient processing of card and digital payments between merchants and financial institutions.
An infrastructure component that routes payment requests to the appropriate financial institutions or networks for transaction processing.
A bookkeeping system where every transaction affects two accounts—one debit and one credit—so that the accounting equation stays balanced. It helps ensure accuracy by tracking both where money comes from and where it goes.
The central record-keeping system for all financial transactions within a business. It summarizes and categorizes transactions from all accounts, providing a complete view of financial activity.
A regulatory process used by financial institutions to verify the identity of their clients. It helps ensure customers are who they say they are and reduces the risk of fraud, money laundering, and other financial crimes.
The process of identifying and preventing suspicious or unauthorized activity in financial systems. It uses data analysis, rules, and machine learning to spot patterns that may indicate fraud.
The central software used by banks to manage their day-to-day operations—such as opening accounts, processing transactions, managing loans, and maintaining customer records—all in real time.
The integration of financial services—like payments, lending, or insurance—into non-financial platforms or apps, allowing users to access these services directly within the experience they’re already using.
The platform behind modern financial products
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Whether you’re launching a neobank, offering embedded finance, or modernizing your legacy stack, Stitch provides the tools and infrastructure to go live faster and scale with confidence. Our platform is modular, secure, and built for high performance—so you can move quickly, stay compliant, and focus on what matters most: your customers.
From seamless onboarding and KYC to powerful ledgers and transaction monitoring, Stitch brings everything together in one place. And with local integrations across MENA and partnerships with global players like Visa and Mozn, we help you build for your market—and beyond.
With Stitch, you don’t just get infrastructure. You get a partner committed to enabling the next generation of finance—from MENA to the world.
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