The Payments Object

Payments on Fiat Republic can be both internal and external. Internal payments are created between 2 Fiat Accounts while external payments are created from a Fiat or Virtual Account to a Payee.

Payments Object

Attribute

Description

Format/Enum

id string

Unique identifier of the payment.

e.g. pmt_nx83lr41ov7dy5va2g

fromId
string

Identifier of the source entity of the payment, which will usually belong to a Fiat Account, Virtual Account or Payer.

e.g. fac_94olbe12noe18k23yp

toId
string

Identifier of the destination entity of the payment, which will usually belong to a Fiat Account, Virtual Account or Payee.

e.g. pye_klegpmn06ep7ry2bvo

direction
string

Direction of the payment.

PAYIN, PAYOUT, TRANSFER

reference
string

Reference received or sent with the Payment.

Payment reference must consist of at least 6 alphanumeric characters that are not all the same. Can contain special characters include space, hyphen(-), full stop (.), ampersand(&), and forward slash (/), which are uncounted. Total of all characters must be less than:

  • SEPA EUR - 140 chars
  • FPS, CHAPS, SEPA GBP - 17 chars (ONLY: a-zA-Z)
  • Eagle Net - 255 chars

effectiveReference
string

Displays the effective reference applied when payment was sent.

  • for SWIFT USD - UUID format
  • for other schemes same as initial reference value

amount
string

Amount of the payment in 2 decimal places.

e.g. 121.21

currency
string

Currency of the payment.

Three-letter ISO 4217 code e.g. GBP, EUR , USD

paymentScheme
string

The payment scheme used for the payment.

FPS, CHAPS, SCT, EAGLE_NET_TRANSFER, BACS, SWIFT,DE, NPP

status
string

Status of the payment.

CREATED, PROCESSING, AWAITING_APPROVAL, COMPLETED, RETURNED, COMPLIANCE_REVIEW, FAILED, REJECTED

paymentReturnId
string

Unique identifier of the return associated with the payment (if the payment was returned).

e.g. rtn_j82rl497g47g5ykvzn

memberReview
string

Decision taken by a Member on a Payment (Payin) if it went through the Member Review flow.

APPROVE, REJECT, REJECT_AND_RETURN

createdAt
integer

Epoch timestamp at which the object was created.

e.g. 1637593856104

updatedAt
integer

Epoch timestamp at which the object was last updated.

e.g. 1637593856104

metadata
string

Additional data in JSON key:value format.

See Metadata for more information.

When you create an external payment from a Fiat or Virtual Account to a Payee, the amount will be reserved until the Payment is completed. Upon completion, the reserved amount will be debited and a transaction will be posted on the relevant Fiat Account.

Payment Schemes

You can find full list of available payment schemes here Currencies and Schemes

Payment Statuses

Payment Status

Description

CREATED

The payment has been created and will be submitted to the banking provider subject to compliance checks.

PROCESSING

The payment has been submitted to the banking provider for execution.

COMPLIANCE_REVIEW

The payment has been created but some automated compliance checks are not yet complete. Our compliance team may reach out to you for additional information on such payments.

For incoming payments, this provides visibility of funds having been received but not yet credited on the relevant Fiat Account.

AWAITING_APPROVAL

The payment has been created successfully and is subject to the process of 4 eyes check
[Available from mid-April 2024]

COMPLETED

The payment has been successfully processed by the banking provider. At this point, the payment has been instructed to the scheme and does not necessarily mean that it has been received by the Payee. Processing times vary depending on scheme.

RETURNED

Payouts that were returned by the Payee's bank and we were able to successfully identify and reconcile the payment as a return.

If a previously Completed payment is Returned, a separate credit transaction of type RETURN will be created on the relevant account.

REJECTED

The payment was rejected by Fiat Republic for compliance reasons.

FAILED

There was an issue with the Payment and it was failed either by Fiat Republic or by the banking provider. This can be for reasons such as incorrect Payee bank details, Payee's bank account being closed etc.

MEMBER_REVIEW

Due to falling outside of my risk tolerance, the payment is currently awaiting review before it can be completed and a transaction is created on the Fiat Account.