Getting started
Terminology
When working with the Nexpay API you may find in our documentation and our API specific terms that may not be used outside of the payments industry or Nexpay itself. Use this table to understand what these terms mean.
These are the most common terms used by Nexpay:
| Term | Meaning |
|---|---|
| Payment | A payment is the core entity in Nexpay. It represents a cross-border money transfer from a payer to a payee. A payment has a status that tracks its lifecycle (e.g. created, processing, collected, paid, cancelled, refunded). Each payment has a transactionType that determines its shape: provider (e.g. university tuition), company (business-to-business), or private (individual transfers). |
| Payer | The person or entity sending money. Payers have a type (e.g. student, parent, agent, other-company) and provide identity documents and details required for compliance. Payers can be saved and reused across multiple payments. |
| Payee | The recipient of funds (also known as a beneficiary). Payees have bank account details, a country, and a currency. For example, a university receiving tuition payments. |
| Payout | A payout represents the outgoing settlement to a payee. Each payment may have one or more payouts, each with its own settlementChannel (e.g. the payment gateway used) and settlementMethod (e.g. bank transfer, digital wallet). |
| Quote | A quote provides the exchange rate and fee details for a payment before it's created. Quotes have an expiry time and include the payerRate, fromAmount, toAmount, and fee. |
| Settlement channel | The payment gateway or provider used to process a payout (e.g. Checkout, Volt, Ebanx, Flutterwave). |
| Settlement method | The specific payment method used by the payer to send funds (e.g. bank transfer, credit card, PayID, GrabPay, PromptPay). |
| Commission | Earnings accrued by an organization on payments. Commissions can be tracked, exported, and withdrawn via commission requests with supporting invoice documentation. |
| Organization | The business entity using Nexpay. An organization has branding, a logo, and compliance documents. Organizations operate under a tenant. |
| Tenant | The top-level multi-tenant isolation unit. Each tenant has its own branding configuration. |
| User | A user is created by a "super admin" on Nexpay, and has access to the Dashboard. Users are bound by roles and permissions. |
| Conversation | A message thread scoped to a specific payment, enabling communication between parties. Conversations support text messages and file attachments. |