Reserve Rolling Reserve
Portion of funds held back for risk coverage
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Routing
How payments and conversions are directed internally
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Sanctions Screening
Checking parties against sanctions lists
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Settlement
Transfer of funds to merchant account
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Settlement Currency
Currency received after processing
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Slippage
Difference between expected and executed conversion price
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Smart Contract
Self executing code on a blockchain
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Spread vs Commission
Difference between explicit fee and embedded spread
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Stablecoin
Digital token designed to maintain stable value usually pegged to fiat
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Sub Merchant PayFac Model
Onboarding under master entity structure