Platform terms apply across the Highnote platform. They include consumer, industry, and Highnote-exclusive terms. 

Automated Clearing House (ACH)

"ACH" refers to the network used for electronic funds transfer (EFT) in the United States. ACH transfers can represent either "funds in" or "funds out" transfers, and the type of ACH transfer designates who initiates the transfer.  

Highnote supports two types of ACH transfers: 

• Originated ACH: Transfer that is initiated within the Highnote platform by an account holder or card program.
  • Push (Credit): An external bank initiates an ACH instruction on their platform to push funds from the external bank to a Highnote financial account.
  • Pull (Debit): An external bank initiates an ACH instruction on their platform to pull funds from a Highnote financial account.
• Non-originated ACH: Transfer that is initiated by a third-party entity outside of Highnote, such as a financial institution or payment processor.
  • Push (Credit): Highnote originates an ACH instruction to push funds from a Highnote financial account to an external bank account.
  • Pull (Debit): Highnote originates an ACH instruction to pull funds from an external bank account into a Highnote financial account.

Address Verification Service (AVS)

"AVS" refers to the Address Verification Service used to verify a cardholder's address, including ZIP code, street address, city, or state. 

Bank Identification Number (BIN)

"BIN" refers to the first four or six digits of a card that represent the identification number of the issuing or acquiring bank. 

Chargeback

“Chargeback” refers to a transaction reversal initiated by the cardholder’s bank on behalf of the cardholder. Chargebacks occur when a cardholder disputes a transaction on their account due to unauthorized charges, non-receipt of goods or services, or dissatisfaction with the purchased products/services.

Dispute

"Dispute" refers to a cardholder's action against a posted transaction when they did not receive the goods and services they paid for or there was unauthorized activity on their account. Disputes are initiated by the cardholder and investigated by Highnote. 

Electronic funds transfer

“Electronic funds transfer,” or EFT, refers to the electronic exchange of money between different accounts, financial institutions, or entities.

External bank account

“External bank account” refers to an account at an external financial institution outside of the Highnote platform.

Highnote supports the following external bank account statuses:

• Non-verified: Non-verified external bank accounts can only transfer money from a Highnote financial account.
• Verified: Verified indicates the external bank account has been verified through Plaid or Finicity. Verified external bank accounts can transfer money from a Highnote financial account.

Financial account

“Financial account” refers to an account defined as representing funds available for use by or owned by a Highnote account holder.

Ledger

"Ledger" refers to a financial account’s record of financial account activity. A financial account can have several different ledgers, depending on the card product type. 

Ledger entry

"Ledger entry" is a record made from a financial event using the double-entry system. A ledger entry results in a change in account balance and has an associated balance for each ledger entry.

Notification event

"Notification event" refers to predefined events that trigger specific actions within integrated systems, facilitating data exchange between the Highnote platform and external systems. 

Notification target

"Notification target" refers to a specific destination or endpoint where notifications, alerts, or messages are sent and delivered via webhook. 

Program management

"Program management" refers to the Highnote service that includes management, operations, and risk monitoring for a card program. Highnote establishes relationships with sponsor banks, payment networks, and distributors as a program manager. 

Reconciliation

"Reconciliation"is an accounting process. It compares two sets of financial records to ensure they are accurate and in agreement.

Report

"Report" refers to a data collection from the Highnote platform.

Highnote supports the following types of reports:

• Card interchange activity report
• Card transaction activity report
• Ledger entry report
• Experian credit report
• Fleet enhanced data summary report

Summary metrics

"Summary metrics" refers to aggregated data points that provide an overview of a card product's performance and usage. The Highnote dashboard displays summary metrics and users can retrieve them via API.

Tokenization

"Tokenization" refers to the processing of protecting sensitive data by replacing it with secure data called a token. An example of tokenization is replacing a cardholder's personal account number (PAN) with a secure, encrypted value. This maintains security and compliance.