Glossary

List of related terms

*authorization - an aggregation of multiple transactions for a single order.

APMs - Alternative Payment Methods such as Apple Pay, Google Pay, and other local accounts can be integrated into your checkout to increase conversion rates.

Buyer - A buyer is a party on the platform that acquires products or services from the vendor. Buyers can be businesses or consumers.

Embedded - A type of integration in which a UNIPaaS product or feature is integrated into your admin and systems.

Account - An account is a virtual location where funds are collected and stored. You can pay into an account, withdraw funds from it, or transfer funds from one account to another.

Hosted Solution - A solution managed by UNIPaaS inside a dedicated portal interface.

Managed Solution - A product suite equipped with all features that UNIPaaS manages. Little to no integration efforts are required from the merchant side.

Payable Balance - This is the amount a vendor or a platform can withdraw from their account.

Payment Processing Fee - A fee collected by UNIPaaS for each transaction to cover fees along the money flow process.

Pay by Bank- A payment method in which a buyer can pay directly from their bank account, with an easy to use flow and low costs. This method is part of the open banking network.

Pay-in - Payment acceptance, insert money to an account.

Payouts - Settle, take money out of the account.

Platform/Digital Platform - An online platform on which businesses or individuals sell products or services to third parties.

Platform Fee - A fee is a designated amount of money determined by the platform collected from vendors. This fee can be configured per vendor and taken at checkout - from Pay-in flow, Payout flow, or both.

Recurring - A transaction made as part of a sequence, a subscription.

Reserved Balance - A small percentage of your account balance set aside to cover potential disputes

UNIPaaS Portal - A descriptive name for the UNIPaaS admin panel on which you can manage your marketplace and vendors, view reports, account, and perform payouts.

Vendor - A vendor is a seller on a platform that sells products or services. Vendors are also commonly referred to as sub-merchants.