Plusius's glossary

Glossary for users

KYC or Know Your Customer - It is a process of identity verification, which is required for legal and regulatory purposes.
KYC level - Defines the level of due diligence done on a customer. Typically a higher level of due diligence allows the customer to do a higher volume of payments. Our qualified risk assessment team decides these levels.
Risk level - Customers will get assigned a risk level upon registration. There are three risk levels Low, Normal and High. The risk level gets decided on several factors, for example, the type of business and which country they do business in. Our qualified risk assessment team decides these levels.
Company name - The customer’s registered company name.
Company ID - The customer’s registered company identification number. Typically found in Companies House.
The street address and ZIP code - The customer’s registered address and ZIP code of the company.
Public URL - The customer’s website.

Quote - The quote in the Plusius system contains the price we want for a specified transaction within a time frame. It is also involving currencies or currency and involved actors.
Quote option - For each quote several quote options are generated, for example, a quote option might be generated for a Bank payment and a Card payment. These may include different fees and time limits.
Payee - The actor that will receive the money.
Payer - The actor who will send the money.
Settlement Amount - The amount of money that Plusius will payout to the payee.
Collection Amount - The amount of money that Plusius requires to be paid in, to be able to payout the settlement amount.
Pay-in - In the Plusius system, we refer to deposits into our system from the Payer as a Payin. The Payin Amount is the collection amount.
Pay-out - When Plusius on the behalf of our clients transfer money to the Payee. The Pay-out amount is the settlement amount.