Payout Overview

Single and Bulk Payout Implementation with Recurring Flow Updates

This document provides an overview of our single and bulk payout functionalities, including the recurring flow for updating their statuses.

Our system supports two payout options:

Single Payout: Send funds electronically to one recipient at a time.
Bulk Payout: Send funds electronically to multiple recipients in a single API call.

Initiate Payout: A request is sent via the API endpoint specifying recipient details (bank account information, amount, currency), and an optional reference ID.
Process Payout: The system validates the request and initiates the transfer of funds to the recipient's account.
Response: The API responds with a success/failure message and details about the transaction.
Recurring Flow Update: The system periodically checks the status of the payout with the payment processor and updates the payout record accordingly. This update is reflected in the API response for future inquiries about the specific payout.

Prepare Recipient List: A list containing recipient details for each payout (bank account information, amount, currency) is prepared.
Submit Bulk Payout: The recipient list and any additional information (total payout amount, currency) are sent via the dedicated bulk payout API endpoint.
Process Individual Payouts: The system validates the request, initiates individual transfers for each recipient, and provides individual status updates for each payout within the response. (success, failure, pending)
Recurring Flow Update: Similar to single payouts, the system periodically checks the status of each payout in the bulk with the payment processor and updates the individual payout records accordingly. These updates are reflected in future API responses about the specific bulk payout.

Real-time Status: Ensures you have the most up-to-date information on the completion status of each payout (single or bulk).
Error Handling: Allows for identification of failed payouts and facilitates potential retries or manual intervention.
Improved Reporting: Enables accurate reporting on payout success rates and overall payout activity.

The API documentation provides detailed information on:

Specific API endpoints for single and bulk payouts.
Data format requirements for recipient information and payout details.
Response structure including information on success/failure messages and status updates.

Please refer to the API documentation for comprehensive instructions and code samples for integrating single and bulk payouts into your application.