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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 Merchant’s Payout account. A cross-currency payout refers to the entire transactions chain which can also be seen as an entire transaction chain that results in the debiting of an account in one currency and the crediting of the equivalent amount into an account in another currency.

The following are the stages involved in the SendR process:

This is used to retrieve rate utilized during conversion btw 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) and also the applied rate.  

The applied rate expires after 300secs. Kindly ensure the rate is applied within the defined period. The rate is assigned a rate ID for subsequent reference.

For example; Example

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Sample Illustration

• Rachael (Merchant) needs to send Joseph (Beneficiary) $1000 equivalent from her GBP Account

• Rachel only has a GBP balance in his her Leatherback Payout Account. This means Rachael needs to know the amount in GBP for a $1000 $ 1,000 transfer to Joseph

• Based on the above, source source_currency/(Base_currency) is GBP, Quote Quote_currency is currency is USD, destination destination_amount is amount is 1000 and credit_amount is amount is unknown which is $1000 equivalent in GBP

• To get the Credit_amount, Rachael makes an API call to the Exchange Rate Endpointto get the below API call See detailsequivalent credit amount and follow other processes as detailed below.

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The following are the stages involved in the SendR process for Rachael to successfully transfer $1000:

To initiate the Payout transaction, Gather the transaction details as shown on the Request payload, Pass Rate Id from Response in endpoint 1, set reference Id or we generate it for you.

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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.

Click here to view the endpoint

This endpoint helps to retrieve Metadata specific to a currency. Pass Beneficiary Currency Code and Beneficiary Country code. Example Payment methods and Metadata (requirements) required to transfer to a Beneficiary Account in a specific currency. To consume this endpoint, Pass BeneficiaryCurrencyCode, and BeneficiaryBankCountrycode, Amount, and CurrencyCode(Sender). For example, If you want to retrieve meta data payment method & metadata for an account in USD domiciled in the local country (United statesStates), you pass Beneficiary Currency Code BeneficiaryCurrencyCode= USD and Beneficiary Country code BeneficiaryBankCountrycode=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 BeneficiaryCurrencyCode= USD and Beneficiary Country codeBeneficiaryBankCountryCode=NGA

This allows a merchant to determine the different Payout Accounts currency he has with Leatherback that he can transfer from.

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 is an International Transaction).

There are different Payment method types and requirements (and these attributes are 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. See other Payment Methods/requirementsfor other currencies we currently offer service for.

Additional supporting documents are required for upload when the Amount passed in the Payment Method endpoint is greater than the Threshold limit defined for the customer. Supported file upload formats are PNG, JPG, JPEG, and PDF. A unique reference is returned after a successful upload.

Click here to view the endpoint

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This retrieves the rate utilized during the conversion between two currency pairs. The Merchants pass the Base Account currency, Base Amount (Optional) and 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.  

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

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

To initiate the Payout transaction, Gather the transaction details as shown on the Request payload and

Call Initiate Transaction Endpoint, Pass RateId from Response in the Exchange Rate Endpoint, set referenceId or we generate it for you, Pass the PaymentMethodType, PaymentMethodValue 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 BeneficiaryCurrencyCode and BeneficiaryBank CountryCode, Amount, and lastly, pass the SupportingDocumentReference gotten from /payout/Disbursement/SendR/upload-supporting-doc

You may use this endpoint to retrieve specific transaction details by Passing a ReferenceId from the Initiate Transaction Endpoint

You may use this endpoint to retrieve all transaction details. This is paginated for proper representation.