Core Concepts

The main idea of the Sharable Cash Platform is to provide organizations with a reliable tool that enables their customers to transfer funds from Peer to Peer per specific rules defined by this organization.

 Check out our Core Concepts below to learn more. 

Facilitator

Facilitators are Client Organizations that build  Programs and Applications on the Sharable Cash Platform. They manage the flow of the funds, defining the rules for transactions.

To become a Facilitator, please contact us at  {    }. 

We understand that every Facilitator has unique business requirements and preferences, and we are committed to helping support your specific workflows and needs.

During enrollment, our team will work closely with you to define the requirements and configurations for your Programs and Applications within the Sharable Cash Platform. 

 You can build and manage any number of Programs and Applications on the Platform.

Customer

Individuals or Organizations registered on the Sharable Cash Platform are called Sharable Customers. Sharable Customers are the legally titled entities that hold a Sharable Account.

They rely on the Facilitator's services to transfer funds between Accounts, enabling various financial activities.

The following Customer Types are supported:

• Individual - represents a single person.
• Organization - represents a company.

Currently, Facilitators enroll their Customers in the Platform. 

Program

A Program represents a logical grouping of available Applications developed, offered, and managed by the Facilitator on the Sharable Cash Platform. 

These Applications are designed to support Facilitator's workflows and needs. 

Programs enable settings and configurations to define specific capabilities and limitations (e.g., Funding Sources and Payout Sources) to be used across all related Applications.

Application

Applications are a logical grouping of Account Types, Accounts, Transactions Types, and Transactions approved by Program Participants and work in concert to facilitate Program activities and services.

Applications are defined within Programs available for particular Facilitators. Each Application represents a predefined functionality encapsulated over the Sharable Platform. 

Account

An Account is what holds funds and is used in fund Transfers. It serves as a virtual wallet or repository where Customers can transfer and receive the money within the Platform's ecosystem.

An Account can be the source or target of a Transfer.

The source Account is the Account where the money originates or is withdrawn from to be then transferred to Target Accounts depending on the Transaction Template. 

The target Account is the Account to which funds are transferred from a Source Account to support funds movement depending on the Transaction Template. 

Account type

Depending on the Account Type within the Sharable Cash Platform, specific considerations such as balance limits, insurance coverage, and KYC (Know Your Customer) requirements come into play. 

Sharable Core supports two Account types:

• Cash 
• Transfer 

Cash Accounts do not have balance limits, so funds can stay in the Account and be used for Transactions at any time. In addition, Cash Accounts are covered with Account Insurance (against Financial Institution failure). However, such Account types do not have Frictionless Enrollment and require a thorough Customer identification process (ex., KYC)

Transfer Accounts, on the other hand, have a balance limit of 30 days, which means that any funds deposited into that Account must be either transferred or withdrawn within the designated 30-day period. Those Accounts are not covered with Account Insurance, and accept Frictionless Enrollment (no KYC). 

Single Use Accounts

Sharable Cash also supports Single Use Accounts, which Facilitators may utilize to cover specific needs. It provides a secure and controlled way to conduct a particular Transaction with no need to create a long-term or permanent account.

Single Use Accounts can be either of Transfer or Cash type described above. These Accounts serve a single purpose and are established for a specific goal, after which they are terminated. 

Funding Sources

Funding Sources represent the Customer’s external financial Accounts that will be used to fund a Customer’s Sharable Account. Funding Sources may be the Customer’s Bank Account (ex., ACH), Debit Card, or Credit Card.

Payout Sources

Payout Sources are the Customer’s external financial Accounts targeted to receive funds withdrawn from a Customer’s Sharable Account. 

Payment Method

A Payment Method is a specific payment service, which encompasses various ways of initiating and completing a payment Transaction allowed within the Facilitator's Application.  

Sharable Cash supports the following payment methods:

• Automated Clearing House (ACH)
• Credit Card

The Automated Clearing House (ACH) is an electronic network in the banking system that facilitates the secure and efficient transfer of funds between financial institutions in the United States. 

Program Participants

Program Participants are Sharable Customers who were added to the Facilitator’s specific Program and have access to the related Applications.

Transaction

The Transaction is a business-level request for the movement of funds, which can further result in one or more Transfers. In other words, it's a programmable transfer of funds, simultaneous multiple transfers of funds, and/or a sequenced transfer of funds, between Funding Sources, Customer Accounts (internal), and Payout Sources. 

Transaction Template

Transaction Templates represent pre-defined transactions (i.e., programmed transfers of funds) created and labeled by a Program Facilitator for a specific Program Application and/or Applications.   

Each Transaction Template consists of a defined set of steps, which serve as a roadmap for conducting transfers and managing payments. These steps represent the specific workflow when executing a Transaction.

A Facilitator may have different sets of Transaction Templates to cover different workflows. They will be defined within particular Applications available at Sharable Cash Programs. 

Transfer

Transfer represents a single point-to-point movement of funds between Accounts within the Sharable Cash Platform. Transfers include the following information:

• Source 
• Destination
• Amount 
• Transfer Type

A single Transaction consists of one or more Transfers.