Faster Payments
Learn how to send funds from your Acquired managed account.
The Acquired.com Faster Payments solution allows you to send funds instantly to a customer's bank account. We offer a real-time service via API to let you know the outcome of sending funds immediately.
Create a payee
A payee is the beneficiary or recipient that receives the funds of your payout transaction. This API endpoint is used to create a payee resource and store the payee's bank details (sort code, account number, account name) for executing the payment.
All payee's must be stored against an existing customer_id
, if the customer doesn't already exist you will need to create one first. (View our API reference customer documentation here). Pass the customer_id
within your POST request.
When you submit a request to create a payee, you will be returned a payee_id
in the response. This payee_id
can then be passed in the pay-out request.
See the below request example:
POST /customers/{customer_id}/payees
{
"sort_code": "010203",
"account_number": "12345678",
"account_name": "MR E JOHNSON"
}
Example of a successful response:
{
"status": "success",
"payee_id": "4ebc5489-7b9f-4324-983e-07d4b2b00035"
}
Example of a 400 error response:
{
"status": "error",
"error_type": "validation",
"title": "Your request parameters did not pass our validation.",
"instance": "/v1/customers/payee",
"invalid_parameters": [
{
"parameter": "sort_code",
"reason": "sort_code format is invalid, should be ^[0-9]{1,6}$"
}
]
}
Process a payout
After you have successfully created a payee, you can then submit a request into the /pay-out
endpoint to process a payout to the customer's bank account.
This enables you to process a faster payment from your Acquired managed account to a customer account.
Note
We will also be adding the ability to create a payee and process a payout within one request, more information on this coming soon!
See the below request example:
POST /pay-out
{
"transaction": {
"order_id": "1f1f2a61-5b68-4725-a0ce-9560514ec00b",
"amount": 15.02,
"currency": "gbp"
},
"payment": {
"payee_id": "4ebc5489-7b9f-4324-983e-07d4b2b00035",
"reference": "Custom Ref 001"
}
}
In your response you will receive the current status of pending
and also a transaction_id
that can be used to track that specific transaction.
Note
It is important to note, in the API response the status returned will always be
pending
, we will then sendstatus_update
webhook notifications to your application every time there is a new status as it transitions through its lifecycle.
Example successful response:
{
"status": "pending",
"transaction_id": "bd3fbbcd-411e-4760-8a9f-7af420d26314"
}
Example of a 400 error response:
{
"status": "error",
"error_type": "validation",
"title": "Your request parameters did not pass our validation.",
"instance": "/pay-out",
"invalid_parameters": [
{
"parameter": "payee_id",
"reason": "Unable to locate this payee, please check your request and try again."
}
]
}
Webhook notifications
Acquired.com will send status_update
webhook notifications to the webhook_url
passed in your payout request or configured in the Hub. This will contain detail of the current status of the payout as it transitions through the transaction lifecycle.
View our webhook documentation here.
Updated about 1 year ago