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Glossary

Cards payment

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The use of cards, in different forms, as payment instruments to move funds and complete transactions, supported by complex nfrastructure around card networks.
Acquirer
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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.

Acquirer Processor
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An entity that handles the technical processing of transactions between merchants and financial institutions, ensuring smooth and secure payment processing.

Bank Identification Number (BIN)
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The initial digits of a payment card number that identify the issuing bank or financial institution, essential for routing transactions and fraud prevention.

BIN Sponsor
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An entity that provides the initial digits of payment card numbers, identifying the issuing bank or financial institution, crucial for card network operations.

Card Scheme
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Global entities that establish standards for card-based transactions, facilitating the secure transfer of funds between parties.

Credit card
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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.

Debit card
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A payment instrument linked directly to a bank account, enabling users to make purchases and withdraw cash with direct debits.

Issuer
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The bank or financial institution that issues payment cards to consumers, granting access to credit or funds with repayment obligations.

Issuer Processor
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A company that manages the technical aspects of issuing payment cards, ensuring their functionality and security in compliance with industry standards.

mada
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A local payment network in Saudi Arabia that connects banks and merchants, enabling seamless card and digital wallet transactions nationwide.

mada pay
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An application in Saudi Arabia that facilitates secure and convenient payments using mada cards or digital wallets, enhancing consumer payment experiences.

Payment Gateway
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A digital interface that securely connects online shopping carts to banks or card companies, facilitating the processing of payments during online purchases.

Prepaid card
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A payment instrument loaded with a predetermined amount of funds in advance, limiting spending to the prepaid balance.

Tokenization
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The process of replacing sensitive card information with a unique identifier (token), enhancing payment security by preventing exposure of card details.

Transfer payment

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The movement of funds between financial institutions and across geographies, enabled by different payment rails managed by a variety of payment networks.
Automated Clearing House transfer
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An electronic payment system in the United States that facilitates batch processing of financial transactions like direct deposits and bill payments.

Clearing House
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An organization or system that facilitates the exchange and settlement of payments between banks or financial institutions.

International SWIFT transfer
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A secure messaging network used globally by banks and financial institutions to facilitate cross-border money transfers.

Payment Rail
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A payment infrastructure that facilitates the transfer of money between financial institutions, ensuring transactions are routed securely and efficiently.

Real Time (Instant) Payments
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Payment transactions that are processed immediately, allowing funds to be transferred and accessed in real time, typically within seconds.

Wire transfer
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An electronic method of transferring funds between banks or financial institutions, commonly used for large or international transactions.

General payment

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The exchange of value between parties, whether online or offline, facilitated by diverse payment systems and processors.
Payment Processor
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Intermediary companies that facilitate secure and efficient processing of card and digital payments between merchants and financial institutions.

Payment Switch
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An infrastructure component that routes payment requests to the appropriate financial institutions or networks for transaction processing.

Acquirer
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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.

Acquirer Processor
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An entity that handles the technical processing of transactions between merchants and financial institutions, ensuring smooth and secure payment processing.

Bank Identification Number (BIN)
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The initial digits of a payment card number that identify the issuing bank or financial institution, essential for routing transactions and fraud prevention.

BIN Sponsor
Plus and minus iconsPlus and minus icons

An entity that provides the initial digits of payment card numbers, identifying the issuing bank or financial institution, crucial for card network operations.

Card Scheme
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Global entities that establish standards for card-based transactions, facilitating the secure transfer of funds between parties.

Credit card
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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.

Debit card
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A payment instrument linked directly to a bank account, enabling users to make purchases and withdraw cash with direct debits.

Issuer
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The bank or financial institution that issues payment cards to consumers, granting access to credit or funds with repayment obligations.

Issuer Processor
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A company that manages the technical aspects of issuing payment cards, ensuring their functionality and security in compliance with industry standards.

mada
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A local payment network in Saudi Arabia that connects banks and merchants, enabling seamless card and digital wallet transactions nationwide.

mada pay
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An application in Saudi Arabia that facilitates secure and convenient payments using mada cards or digital wallets, enhancing consumer payment experiences.

Payment Gateway
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A digital interface that securely connects online shopping carts to banks or card companies, facilitating the processing of payments during online purchases.

Prepaid card
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A payment instrument loaded with a predetermined amount of funds in advance, limiting spending to the prepaid balance.

Tokenization
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The process of replacing sensitive card information with a unique identifier (token), enhancing payment security by preventing exposure of card details.

Automated Clearing House transfer
Plus and minus iconsPlus and minus icons

An electronic payment system in the United States that facilitates batch processing of financial transactions like direct deposits and bill payments.

Clearing House
Plus and minus iconsPlus and minus icons

An organization or system that facilitates the exchange and settlement of payments between banks or financial institutions.

International SWIFT transfer
Plus and minus iconsPlus and minus icons

A secure messaging network used globally by banks and financial institutions to facilitate cross-border money transfers.

Payment Rail
Plus and minus iconsPlus and minus icons

A payment infrastructure that facilitates the transfer of money between financial institutions, ensuring transactions are routed securely and efficiently.

Real Time (Instant) Payments
Plus and minus iconsPlus and minus icons

Payment transactions that are processed immediately, allowing funds to be transferred and accessed in real time, typically within seconds.

Wire transfer
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An electronic method of transferring funds between banks or financial institutions, commonly used for large or international transactions.

Payment Processor
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Intermediary companies that facilitate secure and efficient processing of card and digital payments between merchants and financial institutions.

Payment Switch
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An infrastructure component that routes payment requests to the appropriate financial institutions or networks for transaction processing.

The platform behind modern financial products

Stitch platform UI screens
Stitch is the financial infrastructure platform trusted by leading companies across MENA and global markets—from Saudi Arabia and the UAE to fast-growing fintech ecosystems around the world. With a single, scalable platform, businesses can build and operate financial products across payments, lending, cards, wallets, and deposits—without the complexity of fragmented systems.

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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