Dictionary

Account

An Account is an object that supports Transfers. An Account can be the source and target of a Transfer (Internal or External). Each Account is defined by Account Type, Code, and Attributes.

An account is defined by Program/Facilitator.

Account Structure Template

An Account  Structure Template represents a set of Accounts by Customer Type. An Account Structure supports Application logic and works in concert with Transaction Templates.

Account type

Sharable Core supports two account types:

• Cash - has no balance limits, is covered by Account Insurance (against Financial Institution failure), and has no Frictionless Enrollment (requires KYC).
• Transfer - has 30 days balance limit, is not covered by Account Insurance (against Financial Institution failure), and has Frictionless Enrollment (no KYC).

Account Type cannot be changed after the Account is created.

Address Type

Currently, there are three address types supported:

• Mailing - a mailing address is an official address where you get your mail.
• Street - a physical address, which designates the actual geographical location of your house.
• Billing - an address connected to a specific payment form, typically a credit or debit card.

API Credentials

Once registered, a Facilitator will be issued API keys to be used to call Facilitator API within a specific Execution Environment. 

The Facilitator API keys in the specific environment have full access to the Customer Profile record.

Application

Application is a functional unit of Sharable Cash. Each Application represents a predefined functionality encapsulated over the Sharable platform. Applications consist of two main objects:

• Account Structure Templates
• Transaction Templates

You may check Applications available within your Program(s) using our guide.

Customer

The Customer may be an Organization or an Individual set up to use Sharable Cash to move funds. 

The following Customer Types are supported:

• Individual - represents a single person.
• Organization - represents a company.
• Facilitator- this is a "special Customer" type.

A "Facilitator" Customer Type may be created to cover specific needs, such as getting fee payments. A Facilitator may create one or more “Facilitator” Customer Types.

Currently, only a Facilitator may create a Customer.

A Customer may participate in one or more Programs of the Facilitator.

Customer Address

This is an Address that can be added to a Customer Profile. There may be more than one Address available for one Customer Profile. However, only one Address may be set as default. 

Customer Authorization

Authorizations are used to validate proper access to the Sharable Cash Platform during Transaction execution. A Customer may self-enroll or be enrolled in one or more Applications. Each enrollment is defined as “Authorization.”

Customer Profile

A Facilitator creates a Customer Profile to provide access to its Programs and Applications.  

Customer Profile represents a Customer in the scope of a single Facilitator, containing personal information and other data that belongs to that Facilitator.

Check out how to create a Customer Profile. 

Now, if you're going to use Checks, make sure to add Customer Profile Address. 

As you have your Customer Profile and Customer Profile Address ready, you may add Payment Intsruments to it. 

Execution Environments

Sharable Cash operates in a specific Execution Environment. We have two environments enabled - Sandbox and Live.

By default, the Facilitator is created in a Sandbox environment. This environment will be used for testing and demos. No actual financial transactions will be possible in this environment; however, other actions will be enabled.

After the decision to “go live,“ the production API keys will be provided.

Facilitator

Each Sharable Cash client is set up as a Facilitator in the system as per a particular Plan, which defines access to specific features and services of the platform.

Facilitator then provides Applications and Programs to its members (Customers) on the Sharable Cash Platform.

In addition, you may create a “special Customer” to collect fees for your services within the Sharable Cash Platform. 

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.

Payment Instruments

A Payment Instrument represents the means by which funds are transferred from one party to another. 

Currently, Sharable Cash supports  "Bank account" as a Payment Instrument.

The Payment instrument may be of two types:

• Funding
• Withdrawal  

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)
• Check 

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. 

Payout Sources

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

Program

Program is a logical grouping of available Applications offered by Sharable Cash. Each Program comprises:

• Applications
• Environment Configuration, where a Facilitator may control options offered by inclusive Applications and their configuration requirements. For example, the CC Payment application may require details about the CC processor, keys, settlement account, etc.

Each Facilitator can create one or more Programs; at least one Program is required.

Single Use Accounts

These Accounts serve a single purpose and are established for a specific goal, after which they are terminated. They can be of two types:

•  Transfer
•  Cash 

Transaction

The Transaction is a business-level request for the movement of funds. It is identified by Transaction Types and can further result in one or more Transfers.

Transaction Template

A Transaction Template defines how the funds will be moved within a platform. Each Template has a defined set of Steps, which guide Transfers between Accounts and Payment Instruments, representing the specific workflow of a Facilitator's Transaction. 

For example, some Templates may define that Transfers can be made only from a bank account to a bank account or from a bank account to a check account; within a Template, we may define that some amount of money should be deducted to "special Customer" to collect a fee. You may have different sets of Transaction Templates to cover your business needs, which will be defined for you within particular Applications, which are available within Sharable Cash Programs. 

Learn more about Transaction Templates in our guide. 

Transaction Type

Each Transaction Type is based on one of the Transaction Templates and belongs to a single Application. A Transaction belongs to a single Transaction Type, which executes the actual fund transfer.

A Transaction consists of a sequence of Sources, Targets, Accounts, and Transfers logic allowing to move funds from one Account to another, react to errors, and log the results.

Transfer

Transfer refers to the movement of funds between Accounts within the Sharable Cash Platform.

A single Transaction consists of one or more Transfers.