Payouts

Platforms can power domestic and cross-border payouts in 15+ countries on their respective local payment rails and SWIFT

Sending a payout is a two step process where the platforms are first required to create a beneficiary and once the beneficiary is created and activated by Decentro, they can utilise Send Payout API to start initiating transfers.

To get the status of the payout at any instant, platforms can utilise Get Transaction Status API. Alternatively, Decentro also alerts platforms by triggering the payout status web hook to the platform's specified end points whenever the status of the payout changes.

Create Beneficiary

A beneficiary can be created either via Decentro's dashboard or directly via utilising Create Beneficiary API. During beneficiary creation, the platforms are supposed to pass the following information:

1. Virtual Account URN from which the platform intend to initiate payout to this beneficiary
2. Entity Type: COMPANY or PERSONAL
3. Name of the beneficiary: If PERSONAL then share first and last name of the beneficiary and if the entity type is COMPANY then share the company name
4. Beneficiary's address
   1. City name
   2. Country code
   3. Post code
   4. State
   5. Street address
5. Beneficiary bank account details
   1. Beneficiary’s account currency
   2. Name on the account of the beneficiary
   3. Account number
   4. Bank country code
   5. Bank name
   6. account_routing_type1 (optional)
   7. account_routing_value1 (optional)
   8. Swift code
6. Payment methods

Send Payout

A payout can be initiated to an existing beneficiary either via the dashboard or directly via the create payout API. The platforms should pass the following information in the send payout API:

1. Beneficiary code: Generated in the Create Beneficiary API
2. Currency account unique reference number: Generated in the Create Virtual Account API
3. Payment amount
4. Payment method
5. Narration

Getting Transaction Status

Once the payout has been initiated, platforms will receive timely alerts by Decentro's payout status web hook. Platforms can also utilise Get Transaction Status API to fetch the real time status of the payout by just passing the payment unique reference generated in Send Payout API

There can be following 4 statuses for a payout:

1. Pending: When the payout is created the default status is always PENDING
2. Dispatched: When the payout has cleared the internal review and has been discharged from Decentro's end to the beneficiary, platforms will get DISPATCHED status
3. Success: When the funds has been successfully credited to the beneficiary's account, the platforms will get SUCCESS
4. Failure: Platforms can get FAILURE in two cases:
   1. Before DISPATCHED: If the payout could not clear the internal review process, it will automatically be suspended by Decentro and platforms will receive FAILURE
   2. After DISPATCHED: If the payout successfully cleared the internal review process but can't reach the beneficiary's bank due to any unanticipated scenarios, platforms will receive FAILURE

Payout Status Web Hook

Platforms are required to share their webhook endpoints with Decentro. Decentro then configures these endpoints and utilizes them to send alerts regarding payout statuses via the Payout Status Web Hook

Decentro will alert the platforms whenever the payout status changes. As mentioned above, there can be 4 payout statuses platforms can expect to receive 4 web hook events for each of the status.