You may find useful read a brief description of our core terms and words.
For take full advantage of our API is important to become intimate with the terminology:
- Company: This is what we call our superior entity for grouping a set of resources. Companies represent an organization that may have one or more Merchants, i.e. it may have multiple businesses. You will need a pair of credentials to interact with our API and perform transactions in your company.
Company with only one associated Merchant
Company with several associated traders
- Merchant: you can think in these as the stores of your business, merchants represent a business that will generate statement and invoices, have a payment gateway and receive payments from the customers.
Merchant associated with the Company
To exemplify the concept of company and merchant, the following scenarios are presented:
- Company dedicated to the health area, this company groups different organizations classified by medical specialty (Dentist, Health Care, Pediatrics), each specialty represents a merchant because each one of them has its own patients and therefore they bill in an ailments way to the rest of the specialties.
Company dedicated to the health area with three associated merchant
- We present a company formed by two retail clothing stores that are geographically located in different states, the first merchant is located in New York and the second one is located in Miami, both retail stores have sales that must be associated to the company.
Retail clothing company with two branches geographically located in different states.
- Customer: a person or entity associated with the method of payment method used in the transaction.
- Transaction: Represents the payments attempted by the customer; to execute it is necessary to indicate a payment method and a payment gateway; the transaction can be successful or unsuccessful, both statuses are recorded in our platform.
- Payment method: Are the resources that a customer can create to pay. Currently the customers can create two types of payment methods: Debit/Credit Cards or Bank accounts.
Payment methods offered by Matic
- Matic Portal: is the name of the portal that will be used by the company's owners to configure the gateways, generate their credentials, execute payments and view transactions.
- Credentials: this mean Auth Basic credentials, basically compound of an API Key and Secret Key.
- Public Key: this credential is needed to be able to use the SDK
- Payment Gateway: this is a gateway used by the merchant to receive the digital transactions. The admins needs to set up a gateway to each merchant to be able to receive payments. The available gateways are Authorize.Net, NMI or USAePAY for Debit/Credit cards and Channel Payments for ACH.