| BECS | Bulk Electronic Clearing System |
| CI | Connected Institution |
| FI | Financial Institution |
| NPPA | New Payments Platform Australia |
| NPP | New Payments Platform |
| AP+ | Australian Payment Plus |
| BBAN | Basic Bank Account Number |
| BI | Basic Infrastructure |
| OFI | Other Financial Institution |
| Payer | Party that is sending funds |
| Payee | Party that is receiving funds |
| Creditor | Party to whom money is owing |
| Debtor | Party that owes money |
| Initiator | Merchant or third party processor (TTP), if applicable |
| Mandate | Informal name for a PayTo Agreement |
| Alias Resolution | Process to validate the name associated with a PayID before using it in an account identifier |
| PayTo Agreement | A secure agreement between a debtor and creditor to facilitate payments |
| PayTo Payment | A payment initiated based on a PayTo Agreement |
| PayID | A unique identifier for a bank account, such as an email or phone number |