Key Players & Definitions
3.0.08.21
Key Player Definitions
The below terms will be used throughout our documentation to explain features and parameters of our solutions.
Customer - The term customer will be used throughout the documentation to refer to any of the below customer subtypes, regardless of program configuration. We will specify the customer subtype if the section is applicable to only that subtype.
Customer Subtypes
Third Party - has a direct relationship with Evolve and manages the relationship between Platform(s) and Evolve. In some use cases, Evolve can play the role of Third Party.
- Aggregator - onboards Fintechs to Evolve, oversees and manages the Fintechs' programs supported by Evolve solutions
- ISO (Independent Sales Organization) - brings Merchants to Evolve to utilize Evolve’s Acquiring, ACH and/or Primary Banking solutions
- TPPP (Third Party Payment Processor) - manages and processes the transactional data of the Merchants they bring to Evolve to use Evolve’s solutions
- TPS (Third Party Sender) - sends the transactional data of the Merchants they bring to Evolve to use Evolve’s solutions
Platform - a company onboarded by Third Party and powered by Evolve Solutions to solve unique financial use cases
- Standard Fintech - A Financial Technology company that challenges traditional financial methods and services by solving financial use cases for End User via mobile or web application. Their relationship with Evolve is managed by a Third Party (often an Aggregator).
- Standard Merchant - A company that sells goods or services by collecting customer transaction data via Point of Sale (POS) or eCommerce. A Standard Merchant has access to Evolve’s Acquiring and ACH solutions and does not have a direct relationship with Evolve.
- Business Merchant - A merchant that has direct relationship with Evolve via an Evolve Primary Banking account. A Business Merchant does not have access to the Evolve Acquiring solutions.
- Premium Merchant - Operates the same as a Standard Merchant, but also has a direct relationship with Evolve via an Evolve Primary Banking account. A Premium Merchant has access to Evolve’s Acquiring, ACH and Primary Banking solutions.
Direct Fintech - Operates the same as a Standard Fintech, but has a direct relationship with Evolve. In these situations, Evolve plays the role of the Third Party.
End User - Either consumers or businesses that have a relationship with Evolve through a Fintech. An End User typically authorizes Evolve to open accounts through a Fintech’s on-boarding process by signing various Evolve agreements.
- Consumer End User - An individual that uses Evolve solutions to solve personal financial use cases
- Business End User - A business or company that uses Evolve solutions to solve professional financial use cases
Updated 8 months ago