Validation of an external bank Payee is optional and not required before attempting to use the Payee in a payment transaction. Validating a UK personal Payee bank account before attempting a transaction can result in a lower number of failed transactions and...
Validation of a direct debit Funding Source is optional and not required before attempting to use the Funding Source in a payment transaction. This optional feature is presently only available to validate a UK person, not companies or non UK bank accounts. Validating...
Entities that are created for an account We will require you to create a profile – see here for more information We will verify (or force verify) that profile after you have provided information – see here for more information We will assign a "wallet" to this...
What is a Payee? When a profile is created and verified, a payee of type wallet is also created for each currency. For a profile to make a payment to another profile you'll need to specify the funding source ID of the payer and the payee ID of the recipient. There...
Background to Funding Source “Funding source” is the money origin during transfer. It should be taken as a certain abstraction, which was created to have a consistent format for transferring money: it does not matter whether the origin is a wallet or Direct Debit,...
How are wallets created? Each profile has a set of wallets, one for each currency (GBP and EUR). Wallets are created after the profile is verified. The balance (pence/cents) is returned in the data. You cannot create, update or delete wallets, only get the balance,...
Why do we verify profiles? According to the requirements of the regulators (UK Electronic Money Regulations 2011, European Union (Payment Service) Regulations 2018), we are obliged to verify profiles before they can make payments. Some of the data required for...
What is a profile? A profile represents a person or company that wants to create payments, for example a landlord or a tenant. Payments, scheduled payments, wallets, funding sources, payees and web hooks belong to a profile. The profile ID is used in the URL when...