Definitions of key terms and concepts used across Straddle, including ACH, paykeys, customers, charges, payouts, funding events, and identity verification.
This glossary is comprehensive and very detailed, and is designed to serve as a valuable reference during your implementation of Straddle’s services. Don’t go crazy memorizing all of these, but do refer back to them as needed.
A business entity that has entered into a contractual relationship with Straddle to use its services directly. Accounts can access the Straddle API Sandbox upon creation and need to complete an onboarding process for production access.
Transactions that move money directly from one bank account to another. Straddle orchestrates A2A money movement via multiple payment rails so you don’t have to worry.
A set of protocols and tools for building software applications, specifically referring to Straddle’s API. The Straddle API allows developers to integrate payment and identity verification features into their applications.
A feature in Straddle’s platform that verifies the available balance in a customer’s account before initiating a charge. This helps prevent failed payments due to insufficient funds.
The process of confirming that a bank account is valid and belongs to the stated owner. Straddle offers multiple methods for bank account verification, including API-based verification and open banking connections.
Straddle’s comprehensive suite of account connectivity endpoints that facilitate secure connections between users and their financial accounts. Bridge includes:
A JWT (JSON Web Token) used in the Straddle Bridge widget for secure account connectivity. Create one with POST /v1/bridge/sessions; the client_secret in the response is the token.
A drop-in user interface component provided by Straddle for easy integration of bank account connectivity features. The Bridge Widget is a hosted UI component that you can embed on your website to allow customers to connect their bank accounts to your platform.
A set of information about an account on the Straddle platform, including details such as legal name, business name, website, description, tax ID, address, and industry information.
A specific feature or permission granted to an account on the Straddle platform. Capabilities include payment_types, customer_types, and consent_types.
An individual or business involved in a payment transaction with your business. All customers are automatically screened for fraud and watchlist compliance when they are created. The customer object is used to:
The classification of a customer as either an individual or a business. This determines the type of information required for verification and the available features.
A product offering by Straddle that enables deeply integrated payment infrastructure for platforms, marketplaces, and other PSP/PayFac providers. Embed simplifies the process of integrating bank payments and managing complex money movement scenarios within an app or service.
Represents the movement of money between Straddle and an Account. Funding events are automatically generated as part of a payment and cannot be created directly via the API.
Straddle’s core concept of connecting verified customer identities directly to payment methods. Paykeys are a new kind of payment token that contain both a customer’s identity and payment information.
Straddle’s process of verifying the identity and suitability of customers. This process helps prevent fraud and ensures compliance with regulatory requirements.
A bank account that has been connected to a Straddle Account. Funding events, like deposits and withdrawals, are transfers from Straddle to the linked bank account.
User-defined key-value pairs that can be attached to various objects in the Straddle system. Metadata is useful for storing additional information about an object in a structured format.
A centralized entity in Straddle that allows management of multiple accounts. Organizations provide features such as centralized dashboard, streamlined account onboarding and user management, and consolidated reporting.
A secure token that links a verified customer identity to a specific payment method. Paykeys are a core component of Straddle’s identity-linked payment system.
A transaction between a Customer and a business (Account) using Straddle’s payment services. Straddle supports two types of payments: charge and payout.
A testing environment that mimics the live Straddle platform, allowing developers to test API integrations without affecting real accounts or transactions. The Sandbox is available to all Straddle accounts via the url https://sandbox.straddle.com.
A unique identifier for a Straddle account. This is the primary identifier for an account in the Straddle system. This value can be used by Platforms to originate API requests to Straddle on behalf of an Account by including the header X-Straddle-Account-Id.
An all-in-one identity verification system that provides a risk score for physical addresses, email risk, phone risk, and more. Identity uses a combination of machine learning, big data, and predictive analytics to accurately verify identities and prevent fraud.
Custom models trained with consortium data to detect fake and randomized synthetic patterns. Produces real-time, actionable risk scores and reason codes, with 90% auto-capture in the riskiest 3% of users.
