Modulr Finance: The glossary

A

• Authentication (Biometric, 2FA, etc.)
• Authorisation Hold

B

C

• CHAPS (Clearing House Automated Payment System)

D

E

F

• FedNow

G

H

I

• Issuing Bank / Issuer
• IBAN (International Bank Account Number)

J

K

• KYC (Know Your Customer) / KYB (Know Your Business)
• Knowledge-Based Authentication (KBA)

L

M

N

O

P

• Pay by Link / QR Codes
• Payfac (Payment Facilitator)

Q

R

• Repayment Automation
• Retail Payments

S

T

U

V

• Variable Recurring Payment (VRP)

W

X

Y

Z