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 |
|---|---|---|
| idstring | Unique identifier of the payment. | e.g. pmt_nx83lr41ov7dy5va2g |
| fromIdstring | Identifier of the source entity of the payment, which will usually belong to a Fiat Account or Payer. | e.g. fac_94olbe12noe18k23yp |
| toIdstring | Identifier of the destination entity of the payment, which will usually belong to a Fiat Account, Virtual Account or Payee. | e.g. pye_klegpmn06ep7ry2bvo |
| directionstring | Direction of the payment. | PAYIN, PAYOUT, TRANSFER |
| referencestring | 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:
|
| effectiveReferencestring | Displays the effective reference applied when payment was sent. |
|
| amountstring | Amount of the payment in 2 decimal places. | e.g. 121.21 |
| currencystring | Currency of the payment. | Three-letter e.g. |
| paymentSchemestring | The payment scheme used for the payment. | FPS, CHAPS, SCT, SIC_ACH, SIC_RTGS EAGLE_NET_TRANSFER, BACS, SWIFT,DE, NPP, ACH, ACH_SAME_DAY, WIRE |
| statusstring | Status of the payment. | CREATED, PROCESSING, AWAITING_APPROVAL, COMPLETED, RETURNED, COMPLIANCE_REVIEW, FAILED, REJECTED |
| paymentReturnIdstring | Unique identifier of the return associated with the payment (if the payment was returned). | e.g. rtn_j82rl497g47g5ykvzn |
| memberReviewstring | Decision taken by a Member on a Payment (Payin) if it went through the Member Review flow. | APPROVE, REJECT, REJECT_AND_RETURN |
| createdAtinteger | Epoch timestamp at which the object was created. | e.g. 1637593856104 |
| updatedAtinteger | Epoch timestamp at which the object was last updated. | e.g. 1637593856104 |
| metadatastring | Additional data in JSON key:value format. | See for more information. |
| payeeVerificationIdstring | Unique identifier of the Payee Verification | e.g. pvn_vkoep8y1d57rmnba1g |
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 |
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. |