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 transaction chain which results in the debiting of an account in one currency and the crediting of the equivalent amount into an account in another currency.
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Conditions to be met · Merchants must maintain 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 · (The To/quote/Beneficiary currency)must be part of currencies supported by Leatherback Payout
(This criteria can be checked using the Payout/Disbursement/SendR/Curriencies endpoint ) |
The following are the stages involved in the SendR process for Rachael to successfully transfer $1000:
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Step 1: Call /payout/Disbursement/SendR/currencies |
As a merchant, you will need to confirm the different Accounts you have with Leatherback you can transfer from and also currencies in which the Beneficiary can receive funds. This endpoint shows a Consolidation of currencies in which Beneficiaries can receive funds and also Currencies in which Merchant can transfer from.
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Referencing the illustration above, the list of Merchant account currencies returned by this endpoint must have GBP for Rachael’s transaction to even kick start. |
This endpoint helps to retrieve Payment methods and Metadata (requirements) required to transfer to a Beneficiary Account in a specific currencyTo consume this endpoint, Pass Beneficiary Currency Code
and Beneficiary Country code
. For example, If you want to retrieve payment method & metadata for an account in USD domiciled in the local country (United States), you pass Beneficiary Currency Code
= USD and Beneficiary Country code
=USA (This is a local Transaction), 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
(This is an International Transaction). There are different Payment method types and requirements as this is determined by the Beneficiary Account Currency. Examples of Payment Method types include; AbaRouting
, WireRouting, BicSwift
, SortCode,
etc. Each of these identified Payment methods has additional metadata (information) required to be provided for a successful transaction to take place.
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Step 3 : Call PublicpayoutRate |
This is used to retrieve the rate utilized during the conversion between two currency pairs. The Merchants simply pass the Base Account currency, Base Amount & Quote currency to the endpoint. The response shows the credit Amount equivalent to be credited to the destination Account (Beneficiary Account) and also the applied rate.
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Kindly ensure the rate is applied within the defined period. |
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Initiate Transaction Endpointpayout/Disbursement/SendR/initiate |
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 the Exchange Rate Endpoint, set reference Id
or we generate it for you, Pass the payment method type, Payment Method Value as required.
To get the Payment method type /Metadata for a specific currency as seen on the Request params, call thePayment Method Requirement endpointby passing the Beneficiary Currency Code
and Beneficiary Country code
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Step 4: Call /payout/Disbursement/SendR/transaction/{reference} |
You may use this endpoint to retrieve specific transaction details by Passing a Reference Id
from the Initiate Transaction Endpoint
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Step 5: Call /payout/Disbursement/SendR/transactiontransactions/ |
You may use this endpoint to retrieve all transaction details. This is paginated for proper representation.
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Webhook: Ensure your Webhook URL is configured on the Dev portal Dashboard (see guide here). This allows Leatherback to notify you about events that happen on your account, such as a successful payment or a failed transaction. |
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