Glossary
| Terms | Definition |
| RSP / E-RSP Remittance Service Provider (collectively referred to as “Partners”) | A licensed entity that offers money transfer services, enabling individuals and businesses to send and receive funds across borders. RSPs include banks, money transfer operators, fintech platforms, and mobile wallet providers. |
| Sender | The individual or business that initiates a remittance or payment transaction. The sender provides the funds and details needed for transfer to the recipient, often across borders. |
| Beneficiary | The individual or business that receives the funds from a remittance or payment transaction. In cross-border payments, the recipient gets the money in their local currency through a bank account, e-wallet, or cash pick-up. |
| Biller | A service provider who charges customers a certain fee in return for good or An organisation or business that issues bills or invoices and collects payments for goods or services. In cross-border payments, billers can include utilities, telecom providers, e-commerce platforms, and other companies that receive payments from customers (senders) in different countries. |
| C2C (Consumer-to-Consumer) | Money transfer from one individual to another, typically across borders, for personal and non-commercial purposes such as family support or living expenses. |
| B2C (Business-to-Consumer) | Money transfer from a business to an individual, often used for payroll, pension, refunds, or insurance payouts. |
| B2B (Business-to-Business) | Money transfer between businesses, commonly for cross-border trade, supplier payments, or service fees. |
| C2B (Consumer-to-Business) | Money transfer from an individual to a business, usually for payments like tuition, e-commerce purchases, or service subscriptions. |
| Transaction | A transfer of funds from a sender to a recipient through a payment channel, such as bank transfer, e-wallet, or cash pick-up. In cross-border remittances, a transaction covers the full process from sending money in one country to receiving it in another. |
| TAT (Transaction turnaround time) | The total time taken to process a transaction from initiation to completion. In cross-border payments, this can range from instant (for digital wallets) to several business days (for bank transfers), depending on factors like payment method, corridor, compliance checks, and cut-off times. |
| GloRemit Digital Signature | Hashed results + Key of the parameter value assigned by Tranglo and RSP for connecting to gloRemit platform. |
| Method | GloRemit WSDL SOAP functional parameters or modules. |