Glossary of terms used in APP Fraud introductions

Abbreviations we’ll be using in knowledge base articles about APP Fraud:

• A2A = Account-to-account (payment)

• APP = Authorised Push Payment 

• APPF = Authorised Push Payment Fraud (Weavr terminology)

• PSP = Payment Service Provider

• PSR = [UK] Payment Systems Regulator

• FCA = [UK] Financial Conduct Authority

• OWT = Outgoing Wire Transfer (Weavr terminology)

• IWT = Incoming Wire Transfer (Weavr terminology)

• FPS = [UK] Faster Payment System

• CoP = Confirmation of Payee

Other Weavr terms to be familiar with:

• Embedder 
  = the business which builds and maintains an app through which embedded financial products and services are marketed to and used by End Customers

• End Customer 
  = the individual or business which signs up for embedded financial products and services from a financial institution, via the Embedder’s application

• Corporate 
  = a business End Customer with its finances administered by one or more authorised representatives of the business

• Consumer 
  = an individual, a “natural person”, who is an account holder

• Micro-enterprise 
  = a business which is too small to be considered an “SMB” and therefore must be treated as a Retail End Customer

• Retail End Customer 
  = any customer which must be treated carefully as a non-business, potentially non-sophisticated customer of financial services, which is subject to specific definitions: for our purposes it includes all consumers, all Micro-enterprises, and (if applicable to any programmes in future) small charities.