Pleo

The legal and procedural framework that banks and electronic money institutions must operate under to detect and prevent money laundering and terrorist financing. AML compliance is a condition of holding a banking or e-money licence from the Central Bank of Ireland.

The process of matching employee or company card spend against receipts, bank statements, and accounting entries to confirm that all business expenditure is properly categorised, approved, and recorded before a VAT return or audit.

Identity and beneficial ownership checks that banks and e-money institutions must complete before onboarding a business. Irish SMEs encounter KYB when opening a Revolut Business or Wise account - CRO registration, directors, and UBO are verified.

A four-digit code assigned by Mastercard and Visa to every merchant based on the type of goods or services they sell. Spend management platforms use MCC codes to auto-categorise card transactions and enforce per-category budget controls before purchase.

Article 17 of Commission Delegated Regulation (EU) 2018/389 (the PSD2 SCA RTS) exempts dedicated corporate payment processes from per-transaction Strong Customer Authentication, where the payer is a business and not a consumer.

Software that ingests a photographed, emailed or scanned receipt and uses optical character recognition to extract structured fields - supplier, date, net, VAT rate, VAT amount, currency - so the receipt can be posted to accounting software without manual keying.

Vendors.ie term for the integrated four-layer workflow that moves an Irish SME from a business spend transaction to a Revenue-compliant VAT reclaim line without manual data entry: card or bank feed, receipt capture, VAT extraction, and accounting integration.

A card number, expiry date, and CVV issued digitally without a physical card. Spend management platforms issue virtual cards per employee or per vendor to enforce budget controls without waiting for a physical card.