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SendR Payout

This is simply a cross currency payout where a Merchant pays a beneficiary account in a currency different from the Payout account. A cross-currency payout refers to the entire transactions chain which results in the debiting of an account in one currency and the crediting the equivalent amount into an account in another currency.

The following are the stages involved in the SendR process:

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The applied rate expires after 300secs. The rate is assigned a rate ID for subsequent reference. Click to see details on the Exchange Rate Endpoint

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Sample Illustration

• Rachael needs to send Joseph $1000 from her GBP Account

• Rachel only has a GBP balance in his Leatherback Payout Account. This means Rachael needs to know the amount in GBP for a $1000 transfer to Joseph

• Based on the above, source_currency/Base_currency is GBP, Quote_currency is USD, destination_amount is 1000 and credit_amount is unknown which is $1000 equivalent in GBP

• To get the Credit_amount, Rachael makes the below an API call See detailsto Exchange Rate Endpoint

Conditions to be met

• ·       Merchant Merchants must maintain an a Payout Account in the Base (From) currency with Leatherback i.e. Merchant must have Accounts maintained with Leatherback in the sender’s Currency before such process can be successful

• ·       To “To (Quote currency)must be part of currencies supported by Leatherback Payout (This can be checked using the endpoint Disbursement/Currencies/Beneficiaries : below)·       Merchant must have Accounts maintained with Leatherback in the sender’s endpoint

• ·      NB: Leatherback Payout must support transfers to Beneficiary’s Account Currency before such process can be successful

To initiate the Payout transaction, Gather the transaction details as shown on the Request payload and call Call Initiate Transaction Endpoint, Pass Rate Id from Response in endpoint 1the Exchange Rate Endpoint , set reference Id or we generate it for you., Pass Metadata

To get Metadata for a specific currency as seen on the Request params, call the Beneficiary Requirement endpoint by passing the Beneficiary Currency Code and Beneficiary Country code

This endpoint helps to retrieve Metadata specific to a currency. Pass Beneficiary Currency Code and Beneficiary Country code. Example If you want to retrieve meta data for an account in USD domiciled in the local country (United states), you pass Beneficiary Currency Code= USD and Beneficiary Country code=USA and for USD domiciliary Account opened outside the local country. E,g USD Accounts opened in Nigeria will have Beneficiary Currency Code= USD and Beneficiary Country code=NGA

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Example: If the endpoint in 4 returns (USD, NGN, GBP, CAD, EUR) and End point in step 5 returns (NGN, GHS, INR, USD), This means the Beneficiary can only receive funds in the currencies (NGN, GHS, INR, USD, JPY) Only

This shows the Currencies a Merchant can transfer to   (NGN,GHS, INR,USD),

Consolidation of distinct currencies in 4 & 5 (NGN, GHS, INR, USD, JPY, GBP, CAD, EUR). Call this endpoint to retrieve this unique set

Webhook: Ensure your Webhook URL is configured on the Dev portal Dashboard (see guide here).

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