Payment Channels

🏦 Payment Channels

Payment Channels act as intermediaries facilitating transactions between entities, such as Payers and Payees. They represent the medium through which funds are transferred, like bank accounts. Each Payment Channel is linked to specific entities, ensuring accurate tracking and management of transactions.

🔗 Relationship with Entities

Payment Channels are directly associated with entities within the system. This linkage allows for:

Transaction Routing: Determining the path funds take between entities
Risk Detection: By having visibility into the origin of deposits (e.g., when an End User deposits from multiple different accounts), you can define rules that flag such behavior for investigation as a potential risk

📘 Field Descriptions

Field	Type	Description
`type`	`string`	General type of payment channel (e.g., `BANK_ACCOUNT`).
`id`	`string`	Unique identifier for the payment channel in Fiat Republic's system.
`externalId`	`string`	Member's identifier for the payment channel (e.g., virtual account ID).
`externalStatus`	`string`	Status of the payment channel in the Member's system (e.g., `ACTIVE`).
`externalUpdatedAt`	`integer` (timestamp)	Timestamp of last update in the Member’s system (in milliseconds).
`externalCreatedAt`	`integer` (timestamp)	Timestamp of creation in the Member’s system (in milliseconds).
`channelType`	`string`	Specific type of the channel (usually same as `type`, e.g., `BANK_ACCOUNT`).
`createdAt`	`integer` (timestamp)	Timestamp of when the channel was created in Fiat Republic (in milliseconds).
`updatedAt`	`integer` (timestamp)	Timestamp of the last update in Fiat Republic (in milliseconds).
`metadata`	`object / null`	Optional metadata for custom use (currently `null` in examples).
`bankAccount`	object
`bankAccount.bankName`	`string`	Name of the bank providing the account.
`bankAccount.accountHolderName`	`string`	Name of the account holder.
`bankAccount.country`	`string`	Country of the bank (ISO 3166-1 alpha-2 code).
`bankAccount.iban`	`string`	International Bank Account Number (IBAN).
`bankAccount.bic`	`string`	Bank Identifier Code (BIC/SWIFT).
`bankAccount.accountNumber`	`string / null`	Local account number, if available.
`bankAccount.routingCodes`	`array`	List of routing codes associated with the account.
`bankAccount.routingCodes.value`	`string`	Value of the routing code (e.g., `8900`).
`bankAccount.routingCodes.type`	`string`	Type of routing code (e.g., `NCC`).