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Transaction Request Creation

Clients can integrate with Create payment V2 API for the purpose of creation and submission of their payment requests in realtime. The payment API accepts the information around:

  1. Funds Management: Which currency wallets are involved in the payout
  2. Remitter and Beneficiary information: Identification and banking related information
  3. Payout Method: The financial instrument via which the disbursement will be made to the end remitter
  4. Transaction fee: The system accepts configuration for 2 types of transaction fee. Kindly refer to the Transaction Fee Management section for further information

Funds Management at per transaction level​

Clients can specify the wallets wherefrom the liquidity should be used for the given payout instruction and the disbursement currency for the given payout.

Wallet definition logic:​

  1. Source of funds - As part of the payment request, clients are to specify the currency wallet wherefrom the liquidity is to be consumed. In case the required liquidity is not present in the defined wallet then the transaction will be held in “Awaiting_Funds” status. To define the source of funds wallet, source_account field is used.
  2. Destination Currency - Clients are to mention the currency denomination in which the Beneficiary will receive the funds (with an exception of Card payouts to China). The same may be mentioned via:
  • Wallet ID of the currency wallet whose currency denomination matches with the destination currency denomination - We are to use destination_account for the same.
  • Mentioning the disbursement currency itself - We are to use destination_currency for the same.

Example:

  1. For an INR payout using USD funds, the source wallet should be a USD wallet while the destination account/currency should be a INR wallet/currency
  2. For an INR payout using INR funds, the source wallet should be an INR wallet itself

Disbursement amount definition logic:​

Clients have the flexibility to define the disbursement amount in either of the following ways:

  1. Funding currency denomination
  2. Disbursement currency denomination

Funding Currency Denomination:​

  1. Clients may use “source_amount” to define the funds to be disbursed in the funding currency.
  2. The funds mentioned will be converted to disbursement currency funds (at market rate or locked rate - refer to Fx - Per Transaction Currency Conversion) and the corresponding debits and credits will be done to the source and destination currency wallets
  3. The funds credited to the destination wallet will be used/debited for the processing of the transaction
  4. The Fx margin fee is borne by the Beneficiary in this case

Example: For a $10 USD remittance to India (USD to INR payout), the amount mentioned in source_amount is 10.

Disbursement Currency Denomination:​

  1. Clients may use “destination_amount” to define the funds to be disbursed in the disbursement currency.
  2. In order to debit the funds from the funding/source wallet, the defined amount will be converted to funding currency amount (at market rate or locked rate - refer to Fx - Per Transaction Currency Conversion) and the corresponding debits and credits will be done to the source and destination currency wallets
  3. The funds credited to the destination wallet will be used/debited for the processing of the transaction
  4. The Fx margin fee is borne by the Client/Remitter in this case

Example: For Rs 750 INR remittance to India (USD to INR payout), the amount mentioned in destination_amount is 750.