# Glossary
source: https://developer.mastercard.com/ob-accept-payments/documentation/developer-support/glossary/index.md

|                      **Term**                      |                                                                                                                                                                                                                       **Description**                                                                                                                                                                                                                       |
|----------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **AIS**                                            | Account Information Service, the provision of account information services carried out by an Account Information Service Provider (AISP), which is authorized and regulated by the FCA.                                                                                                                                                                                                                                                                     |
| **API**                                            | Application Programming Interface, a way for applications to communicate with each other.                                                                                                                                                                                                                                                                                                                                                                   |
| **ASPSP**                                          | Account Servicing Payment Service Provider (ASPSP) is any financial institution that offers a payment account with online access. This includes banks and building societies.                                                                                                                                                                                                                                                                               |
| **Client**                                         | A system that uses Mastercard Open Finance Services                                                                                                                                                                                                                                                                                                                                                                                                         |
| **Current**                                        | This feature/endpoint is the current supported up-to-date version of the API. Customers should integrate to this endpoint.                                                                                                                                                                                                                                                                                                                                  |
| **Customer**                                       | The person or a business representative that is buying goods or services online (for example from the Merchant). The consumer owns an account with one of the supported banks that is used to pay for the provided goods or services or can be linked to the Merchant's Application to enable future payments. Also referred to as PSU.                                                                                                                     |
| **IBAN**                                           | The International Bank Account Number is a unique identifier that helps banks process payments from person to person automatically. The IBAN contains all the necessary information of the owner such as the account number, bank and branch information and country code.                                                                                                                                                                                  |
| **PIS**                                            | Payment Initiation Service, the initiation of a payment from a customer's account carried out by a Payment Initiation Service Provider (PISP), which is authorized and regulated by the FCA.                                                                                                                                                                                                                                                                |
| **PSD2**                                           | The Second Payment Services Directive                                                                                                                                                                                                                                                                                                                                                                                                                       |
| **PISP**                                           | Payment Initiation Service Provider (PISP): an organization that is authorized to initiate payments into or out of from a user's account.                                                                                                                                                                                                                                                                                                                   |
| **Provider**                                       | A provider is the institution that delivers data or executes the payment. This could be a bank or another financial institution.                                                                                                                                                                                                                                                                                                                            |
| **Preview**                                        | This feature/endpoint is still in development or testing, and is not yet widely available for customer use. Customers should use this endpoint only if they have been advised to participate in preview feature testing.                                                                                                                                                                                                                                    |
| **PSU**                                            | A natural or legal person making use of a payment service as a payee, payer or both.                                                                                                                                                                                                                                                                                                                                                                        |
| **RTS**                                            | Regulatory Technical Standard                                                                                                                                                                                                                                                                                                                                                                                                                               |
| **Supervised login**                               | A supervised login is performed by the end user. Here, the end user needs to select a bank and provide credentials.                                                                                                                                                                                                                                                                                                                                         |
| **SEPA**                                           | Single Euro Payments Area. Often used to refer to payment schemes for the Euro area, such as SEPA Credit Transfers.                                                                                                                                                                                                                                                                                                                                         |
| **Sweeping**                                       | As defined by Open Banking Limited, this refers to the movement of a customer's own funds between accounts owned by themselves.                                                                                                                                                                                                                                                                                                                             |
| **TPP**                                            | Third-party providers are organizations or natural persons that use APIs developed to standards to access customer's accounts, to provide account information services and, or, to initiate payments. Third Party Providers are either/both Payment Initiation Service Providers (PISPs) and/or Account Information Service Providers (AISPs).In the case of clients operating on their own license, the terms Integrator and TPP are used interchangeably. |
| **VRP**                                            | Variable recurring payments initiated by the TPP based on the consent provided previously by the PSU.                                                                                                                                                                                                                                                                                                                                                       |
| **cVRP or Commercial Variable Recurring Payments** | A variable recurring payment that covers use cases outside of those covered by mandated sweeping VRPs.                                                                                                                                                                                                                                                                                                                                                      |