Payment
Payitoff API: Payment Schema
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A Payment is an object that describes a single transfer of funds to a Servicer from a Borrower-owned SourceAccount on a specific date.
You can create, edit, list, and cancel a Payment.
Creating and Editing a Payment
PaymentUse the Create Payment endpoint to create all Payment records. When creating, you'll send a PaymentPayload object as your request body, so be sure to check the guide to better understand how to successfully define your Payment.
Use the Edit Payment endpoint to edit existing Payment records. Just as when creating, you'll provide a PaymentPayload as your request body.
Don't confuse
Payments,PaymentSeries, andBatchPayments!Our API supports making different kinds of payments on behalf of one or more
Borrowersfrom their own bank accounts and from third-party-owned bank accounts.The best way to determine if you should be creating a
Payment,PaymentSeries, orBatchPaymentis based on how manyBorrowersyou wish to make a payment for, and who owns the fundingSourceAccount.
Do I need a Payment, a PaymentSeries, or a BatchPayment?
Payment, a PaymentSeries, or a BatchPayment?| Scenario | SourceAccount Owner | Solution |
|---|---|---|
I want to make a payment for one Borrower | The Borrower owns the SourceAccount from which funds will be transferred. | Payment |
I want to make a payment for one Borrower on a regularly recurring schedule every month. | The Borrower owns the SourceAccount from which funds will be transferred. | PaymentSeries |
I want to make a payment for one Borrower | My business or another third-party owns the SourceAccount from which funds will be transferred. | BatchPayment |
I want to make a payment for many Borrowers | My business or another third-party owns the SourceAccount from which funds will be transferred. | BatchPayment |
I want to make a payment for many Borrowers | One of the Borrowers owns the SourceAccount from which funds will be transferred to pay for all the Borrowers. | Not Allowed |
Schema Definition
| Property | Type | Format | Description |
|---|---|---|---|
amount | string | decimal | The total amount that will be paid on the scheduled_date. |
borrower_id | string | uuid | A UUID that identifies the Borrower on behalf of whom this Payment is made. |
id | string | uuid | A UUID that identifies this Payment. |
scheduled_date | string | date | Date on which the payment will occur. |
servicer_id | string | uuid | A UUID that identifies the Servicer who will receive the payment. |
source_account_id | string | uuid | A UUID that identifies the Borrower-owned SourceAccount from which funds will be transferred. |
status | string | pendingcancelledcomplete | The status of the Payment. |
Example
{
"amount": "255.75",
"borrower_id": "b191438a-5d9e-4135-a509-99f63115e63b",
"id": "35a0279c-6b9f-4e0c-b0b2-2c5038cd536d",
"scheduled_date": "2021-08-20",
"source_account_id": "141da7f0-17a0-4a6e-99e2-f9bcae4d99a3",
"status": "pending"
}
Updated 9 months ago