Glossary

System — the Invoicebox service: it accepts payments from companies and sole traders and prepares the closing documents
API — the programmatic interface for working with the System
Merchant — a website, a retail or service business or any other point of sale, as well as suppliers of goods and services, that accepts payment through Invoicebox
Merchant counterparty — the individual or organisation that owns the Merchant
Merchant office — the merchant's personal account, where you can create Orders, review Transactions and issue Refunds for payments made through Invoicebox
Merchant employee — a representative of the Merchant counterparty with access to one or several Merchants in the office
Contract — an agreement concluded from a given date and for a given period that defines the financial and other relations between counterparties in Invoicebox
Order — an order created by the Merchant and passed to Invoicebox through the API or the merchant office
Basket — the set of goods and services in an Order with their quantity, price and tax
Customer — the individual or organisation named in the Order
Invoice — a bill issued for payment in Invoicebox; it may cover one or several Orders
Payer — the individual or organisation the Invoice was issued to
Transaction — a record of an incoming payment or transfer from the actual Payer towards the Invoice
Promised payment — an instrument for companies and sole traders that confirms an order straight away while the invoice is paid by bank transfer later
Guarantee fund — an instrument that lets companies and sole traders confirm an order instantly using money transferred to a dedicated balance in advance
Overdraft — an extension of the Guarantee fund that allows confirming an order for more than the balance currently holds
Shipment — the fact that the Merchant (or the consignor) delivered the goods or performed the service under an Order
Payment page — the Invoicebox interface where the Payer forms the Invoice and chooses how to pay

See also: B2B payment instruments — how the five instruments differ and which one suits your case.