Create Payment API
As previously explained, the Create Payment API allows the transfer of funds between wallets and to bank accounts. This API can be utilised in various contexts. The table below provides an overview of the usage and application of each “Type” in relation to each wallet:
| Create Payment API “Type” | Description | From Wallet | To Wallet | Notes |
|---|---|---|---|---|
| TRANSFER | Split funds to Partners’ wallet | Platform Wallet ID | Partner Waller ID | “TRANSFER” type can only be used to send funds from Platform to Partner wallet |
| PAYOUT | Send funds to Partners Bank account | Partner Waller ID | - | When paying out to partners’ bank account, there’s no need to provide a destination as the system already holds that information. |
| PAYOUT | Send funds to Platform IBAN account (within Fondy) | Platform Wallet ID | - | When paying out to platforms’ bank account, there’s no need to provide a destination as the system holds the information about the Fondy IBAN account where the funds should go. |
| REVERSAL | Send funds back to Platform wallet account | Partner Waller ID | - | In case a reversal is needed, the funds will go from Partners’ wallet back to Platform wallet. Reversal’s will always revert the funds back to platform wallet – no need to provide the destination wallet information. |
Updated about 2 months ago
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