Glossary

Key terms used throughout the VRP Billing platform.

Term	Definition
Variable Recurring Payment (VRP)	A payment initiated by a merchant under an agreed mandate with dynamic amounts and schedules.
Mandate	Customer authorisation that defines limits and scope for VRP collections.
Strong Customer Authentication (SCA)	Regulatory requirement for verifying the customer's identity when creating mandates.
Capture	The process of submitting a payment instruction to the customer's bank.
Settlement	When funds clear through banking networks and are ready for payout.
Idempotency Key	A unique identifier for retrying API requests safely without duplicating operations.
Event	A webhook notification representing a state change in the system.
Payout	The transfer of collected funds to the merchant's bank account.
Metadata	Custom key-value pairs stored on mandates, payments, or refunds for merchant use.
Cursor	Opaque value returned in list responses, used for pagination.

Refer to the relevant guides for deeper explanations of how each concept applies within the API.