Glossary of Nium terms

This is a compilation of brief explanations of Nium terms used throughout the Nium One platform.

Allowlist: An allowlist is a list of email addresses or domains that you want to receive emails from.
Chargeback: A chargeback—also called a reversal—is the return of credit-card or direct-debit funds used to make a purchase to the buyer.
Customer: The entity onboarded to Nium through a client and whom Nium has verified their identity and assigned them a wallet.
  An individual customer is the end-users who holds the balance.
  A corporate customer is the business entity that holds the balance.
Direct debit: A way to pay someone by allowing Nium to take money directly from a customer's bank account.
Denylist: A denylist is a list of email addresses or domains that you don't want to receive emails from.
Multi-currency wallet (MCW): The storage mechanism for all the configured currencies.
Pay In: The Nium product that puts money in an account as a result of making a deposit.
Pay Out: The Nium product that lets you make payments to more than 190 markets all over the world.
Fund: To make provision of monetary resources for discharging the interest or principal of. To provide funds for something. The act of a Nium customer using a direct debit or funding transaction to pull money from the end customer’s bank account and adding it to the end customer’s Nium wallet.
Virtual account number (VAN): An account number linked to a central account.
Wallet: The storage mechanism to keep balances in multiple currencies. A Nium application for organizing cards and bank accounts. Don't precede with the.
Withdrawal: The client initiates a payout request where Nium debits the customer's Nium wallet and credits it to their own bank account.



We're constantly improving and updating our products. Due to older code that is still being migrated, you may see an outdated term that hasn't been updated yet.