Glossary
Below is a glossary of the common terms used throughout this documentation, and the names of the objects that make up the Pyxis system.
| Client | Clients are the businesses making direct use of the Pyxis platform. They allow their customers to access Pyxis functionality using their own products which interface with the Pyis API. |
| Customer | Customers are the entities whose funds will flow through the system. Customers can be of two types: >NATURAL: representing an individual or >LEGAL:, representing a company or organisation. |
| KYC (Know your customer) | Pyxis can run KYC checks against users that you onboard. These checks are used to verify the identity of the user and to confirm that they are not on any lists that might restrict their activities, i.e. Politically Exposed Person, or Sanction Lists. By default whenever you on-board a new client a KYC check will be run, |
| Vault (also referred to as a wallet) | A vault belongs to a customer and is a repository into which they can add funds. A customer can hold more than one wallet. Funds can be transferred between wallets held by the same user, or between wallets held be different users |
| Funding Source | A Funding Source represents a method of getting funds into a Vault. They can be > DebitCard > BankTransfer >* DirectDebit Funding Sources can be used to transfer funds into any wallet owned by the user. Funds can also be remitted to a Funding Source. |
| Transaction | A transaction represents a flow of funds between two accounts, (ie. wallets or payment sources). Transactions can be marked as pending, meaning that funds will not be transferred until the transaction is updated to be completed. |
| Payment | A payment represents a flow of money into or out of the Pyxis client money account. A payment originates from a Funding Source and the funds are always deposited in a Vault owned by the same customer. |
| Asset | An asset represents something that a customer can own, IE. a share of an investment etc. Assets can be transferred between customers. Asset transfers can be marked as pending. |
Updated almost 5 years ago