Learn the different words and open banking terms commonly used across our documentation.



A financial account with a provider, for example, a current account.


Account Information Service Provider. A company authorised to access account data from financial institutions with the explicit consent of your user.

API only

The API provides a server-side integration if you wish to build your own UI, integrate into your existing UI, or would like to have more flexible customisations.


Account Servicing Payment Service Provider. A company that provides and maintains a payment account for a payer.

authorisation flow

A method by which a bank allows their users to authorise a payment. Currently, we support redirect and embedded authorisation flows, but additional authorisation flows may be supported in future.

authorisation server

The secure service hosted by TrueLayer that allows users to authenticate with their provider credentials. It also offers API endpoints to obtain and renew access_token.


bank transfer

See open banking payments.


This refers to the bank account receiving the funds. This is most commonly your account.



An application implementing our APIs.

closed-loop payment

With a closed loop withdrawal, you can send funds to an account that your user has previously made a deposit from.


A set of identifiers and secrets the user uses to access their accounts with a provider.

consent parameters

The payment limits defined in the mandate.


Our developer portal, where you can get your client_id and client_secret, use our auth link builder, and get an access_token.


Data API

The API that provides access to your users' financial data.


embedded authorisation flow

An authorisation flow which requires you to present input fields to your user and submit their values to our API, to authorise a payment.


Hosted Payment Page

The Hosted Payment Page presents a web user interface that makes it simple and easy to accept payments from your users.



The agreement between a merchant and their user enabling the merchant to take payments from the user's payment account.

mobile SDK

The mobile SDK for iOS and Android, you can quickly add open banking payments to your app. Our mobile SDK integrates with our Payments API, making it simple to get up and running.


open banking payments

The open banking payments product provides a way to collect payments from your customers using bank transfers from any bank TrueLayer is connected with.

open-loop payment

With an open loop withdrawal, you can send funds to any account. This type of withdrawal is useful for sending funds to your bank account, or to a user's account that hasn't previously been used to deposit funds.



The PayDirect product allows you to:

  • Collect a payment from your customers into your merchant account
  • Pay out to your customers to the same account as the one they made the payment with
  • Pay out to your customers to a different account from the one they made the payment with.
  • Automatically sweep your merchant accounts to maintain a certain maximum balance. By default, automated sweeping is not enabled.


A payout is an amount of money paid out to a person or group.


Payment initiation service. See open banking payments.


A Payment Initiation Service Provider initiates account to account payments with the explicit consent of the user.


A bank or other financial institution that provides TrueLayer with access to financial data through APIs.

provider selection

A screen used by your users to select their bank. You can use the providers endpoint, available for each payment type, to build this.


The second Payment Services Directive. European legislation which enables regulated third party providers to access a customer's bank account information and/or request payments, with the customer's consent.


A Payment Services Provider is an entity that carries out regulated payment services.


Payment Service User. Any user who can make a payment through your customer interface is a PSU. In our documentation, PSU refers to your user.


redirect authorisation flow

An authorisation flow which requires you to redirect your user to their bank's website or app to authorise a payment.


When we talk about a remitter, we mean the bank account making the payment. This account most commonly is your user's bank account.

return URI

The return_uri that you send to us when initiating a payment with the redirect authorisation flow. Used to redirect the user back to your application or website after they have authorised a payment with their bank.



Sandbox is a testing environment isolated from the live environment.


A set of permissions the user grants to the client to access data on their behalf.



When we talk about the user in our documentation, we are referring to your customers. See PSU.



Abbreviation of variable recurring payment.

VRP commercial

Variable recurring payments (VRPs) made between consumers and businesses which are governed by contracts outside of the VRP sweeping scope.

VRP sweeping

A type of variable recurring payment (VRP) which is enabled by a legal provision called sweeping, which enables some third-party providers to make payments between accounts owned by the same user.

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