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Formally challenging a payment you did not authorise or did not receive. It is the process that leads to a chargeback, and it exists only on card rails.
The same process under the same name. Worth remembering that a payment sent on a blockchain has nothing resembling it.
Malaysia's instant transfer and QR scheme, reaching bank accounts and e-wallets through one code.
Sending tiny amounts to many wallets, either to track how the funds move afterwards or to set up an address poisoning attempt.
When a terminal abroad offers to charge you in your home currency instead of the local one. It sounds helpful and it is almost always the worse rate, because the merchant's provider sets it and keeps the margin.
Identical, and just as costly. The rule of thumb is unchanged: always choose the local currency.
Regulated digital money issued against funds you hand over and redeemable one for one. It is the legal category most payment app balances actually sit in.
Already the banking answer, and the closest existing thing to a fiat-backed stablecoin. What differs is who supervises the issuer and where the reserves sit.
Whether a product is open to you, usually decided by where you legally reside rather than where you happen to be standing.
Account opening criteria. Residency, age and a completed identity check.
In Kite: The Kite card is available to residents of Malaysia, the Philippines, Singapore, Thailand, Vietnam, Japan, South Korea, Taiwan and Australia, aged 18 and up, with KYC complete.
The blockchain most stablecoins and crypto applications were built on. It can run programs rather than only record payments, which is why nearly everything beyond simple transfers started here.
Shared infrastructure a whole industry builds on, closer to a payment network with a programming language attached than to any one company's system.
In Kite: One of the networks you can top up from, with either USDC or USDT.
A company that matches buyers and sellers and holds your funds while you trade. Convenient, and it means someone else is holding your money.
A broker with a client money account. Your positions are real, the custody is theirs.
The global body that sets anti-money-laundering standards. It does not regulate you directly, but nearly every national rule you meet began as an FATF recommendation.
The standards body behind the rules your bank enforces. Invisible to customers, decisive for everyone else.
The point past which a payment cannot be reversed. Blockchains reach it in seconds to minutes, and after that no one, including the network, can undo it.
Irrevocability. A cleared cheque, past the point where it can bounce.
The percentage added on top of the real exchange rate when you spend in a currency your account does not hold. It is charged on the whole amount, so it scales with your holiday.
The foreign transaction fee on a bank card, typically stated as one number that quietly bundles the network's cross-border charge and the bank's own margin.
In Kite: US dollar spends carry no added fee. Everything else is a flat 1.8%.
What the network charges to include your transaction in a block. It goes to whoever is running the infrastructure rather than to the app you are using, and the price climbs whenever the chain is busy.
The interchange and network fee inside a card payment, or the SWIFT charge on a wire. Always there, usually invisible, occasionally enormous.
In Kite: Gas fees are on us. You do not hold a separate token to pay them.
The rate you are charged for each unit of computation. Bid higher and you get processed sooner, which is why fees spike when everyone wants in at once.
Paying for a priority wire instead of standard clearing, or courier express instead of next week.
A transfer where somebody other than you pays the network fee, so you never have to hold a separate token just to move your own money.
The merchant absorbing the card fee. The cost is real, it is simply not on your side of the counter.
In Kite: Gas fees are on us, so you never buy a second token to move your balance.
The Philippines' largest mobile wallet, used for everything from paying at a sari-sari store to receiving money from family abroad. Its QR sits on counters nationwide.
A mobile money account that became the default way a country holds and spends small balances.
A service refusing to work in certain countries, because of sanctions, licensing, or a plain commercial decision. It can apply to signing up, to spending, or to one individual merchant.
The same blocks banks apply, for the same regulatory reasons.
A token that turns holding into voting power over how a protocol is run, from fee levels to upgrades.
A small physical device that keeps your keys offline and signs transactions without exposing them. Suited to savings you rarely touch, not to buying coffee.
A safety deposit box. Excellent for the deeds to your house, inconvenient for bus fare.
A fixed-length fingerprint of some data. Change one character of the input and the output changes completely, which is how a chain of blocks can prove nothing has been quietly edited.
The check digit on an account number, doing the same job at an enormously larger scale.
A wallet on an internet-connected device. Convenient, and the right tool for money you actually spend, which is why the sensible pattern is a small hot balance and a cold store for the rest.
The cash in your pocket versus the money in your account. Nobody carries their savings in their wallet.
The standard format for an international bank account number, used across Europe and much of the world. Long, and deliberately built to fail loudly if you mistype it.
The banking equivalent of a wallet address, with one advantage worth envying: an IBAN carries a built-in check that catches most typos before the money leaves.
The shortfall a liquidity provider ends up with compared to simply holding the two tokens, caused by the pool rebalancing as prices move. The name is optimistic.
The opportunity cost of being contractually held to a fixed asset ratio while the market moves away from it.
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