Glossary
Crypto, XRPL, and XRPay terminology explained in plain English.
A
Account Reserve
A minimum balance of 10 XRP required for every active XRPL account. This is an XRPL protocol requirement to prevent network spam.
B
BigCommerce
An e-commerce platform that XRPay integrates with natively. When connected, XRPay appears as a payment option at BigCommerce checkout.
D
Destination Tag
A numeric identifier attached to XRPL transactions that helps the recipient distinguish between multiple customers or orders sharing the same wallet address.
DEX (Decentralized Exchange)
A built-in feature of the XRP Ledger that allows swapping between tokens (like XRP and RLUSD) without a centralized intermediary.
E
Escrow
An XRPL feature that locks funds until predefined conditions are met (time-based or cryptographic). Used conceptually in B2B marketplace order protection.
F
Fair Market Value (FMV)
The USD value of a cryptocurrency at the exact moment of a transaction. Required by the IRS for tax reporting. XRPay records FMV automatically for every payment.
Fiat
Government-issued currency like USD, EUR, or GBP. Not backed by a commodity — its value comes from government regulation and trust.
J
JSON-LD
A structured data format used by XRPay documentation pages to help search engines understand content (FAQs, how-to steps, product info) for rich snippet display in Google results.
K
Kiosk Mode
A fullscreen POS terminal mode designed for dedicated retail tablets or displays. Hides browser chrome and provides a touch-optimized interface.
N
Non-Custodial
A model where the platform does not hold or control your private keys. XRPay forwards payments automatically to your personal wallet — you maintain full sovereign control.
O
OAuth
An authentication protocol that allows XRPay to securely connect to third-party services (BigCommerce, Shopify, QuickBooks) without storing your passwords.
On-Ramp
A service that converts fiat currency (like USD) into cryptocurrency. XRPay integrates Transak as a fiat-to-crypto on-ramp accessible from the Wallets dashboard.
Operations Wallet
A platform-managed XRPL wallet that receives customer payments on your behalf. Funds are automatically forwarded to your personal payout wallet.
Owner Reserve
A small amount of XRP (currently 2 XRP per object) that must remain in your wallet when you add trustlines, offers, or other objects to the XRPL. It's refundable if the object is removed.
P
Payout Wallet
Your personal XRPL wallet address where XRPay automatically forwards settled funds. You maintain full control — XRPay never has access to your private key.
PIN (POS)
A unique 4-digit personal identification number assigned to each POS employee for shift authentication and transaction accountability.
Q
QR Code
A scannable code displayed at checkout that contains the XRPL payment details. Customers scan it with their wallet app to initiate payment.
R
RLUSD (Ripple USD)
A regulated US dollar-pegged stablecoin issued by Ripple Labs. Each token is backed 1:1 by USD reserves. Zero volatility — ideal for merchant payments.
S
Settlement
The process of a payment being finalized and funds becoming available. On the XRPL, settlement takes 3–5 seconds — compared to 2+ business days for credit cards.
Shopify
An e-commerce platform that XRPay integrates with. Connect your Shopify store from the XRPay Channels page to accept crypto at checkout.
Stablecoin
A cryptocurrency designed to maintain a stable value, typically pegged to a fiat currency like USD. RLUSD is the stablecoin used on XRPay.
Sweep
The automatic forwarding of funds from your XRPay account to your personal payout wallet after a payment is confirmed.
T
Transak
A regulated fiat on-ramp integrated into XRPay's Wallets dashboard. Allows merchants to buy RLUSD, XRP, or USDC with credit card, debit card, or bank transfer.
Trustline
A one-time XRPL configuration that tells the ledger your wallet can hold a specific issued token (like RLUSD). Requires a 2 XRP owner reserve.
W
Webhook
An automated HTTP callback that sends real-time event notifications between systems. XRPay uses webhooks to sync order status with BigCommerce, Shopify, and Shippo.
X
Xaman (XUMM)
The most popular XRPL wallet app. Customers use Xaman to scan QR codes and sign XRPay payments. XRPay also has an xApp marketplace inside Xaman.
XRP
The native cryptocurrency of the XRP Ledger. Used for transaction fees, liquidity bridging, and direct payments. Price varies with the crypto market.
XRPL (XRP Ledger)
The decentralized blockchain that processes all XRPay transactions. It's a public, open-source ledger with 3–5 second settlement times and near-zero fees.