GLOSSARY: Disbursed funds
What are disbursed funds?
‘Disbursed funds’ is referring to getting money from point A to point B, whether that point is an individual or an institution.
With regards to consumer finance, this involves the transfer of money from the lender or bank to the merchant. The money is expected to be delivered within a fixed timeframe. In a regular situation, this transfer of funds would occur via ACH at the end of the day, where all the money goes across from the lender to the merchant and requires reconciliation.
With Jifiti, funds are disbursed via a digital credit card transaction, meaning no ACH or reconciliation need occur.
See also last-mile disbursement
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