BatchPayment

A BatchPayment is an object representing the transfer of funds from a third-party, usually business-owned, SourceAccount to many PortfolioLoans and/or Servicer accounts on behalf of many Borrowers.

Creating `BatchPayments`

Use the Create BatchPayments endpoint to create all BatchPayment records. When creating, you'll send a BatchPaymentPayload object, so be sure to check the guide to better understand how to successfully detail your batch and all associated payments.

❗️
Don't confuse Payments, PaymentSeries, and BatchPayments!
Our API supports making different kinds of payments on behalf of one or more Borrowers from their own bank accounts and from third-party-owned bank accounts.
The best way to determine if you should be creating a Payment, PaymentSeries, or BatchPayment is based on how many Borrowers you wish to make a payment for, and who owns the funding SourceAccount.

Do I need a `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
`created_at`	`string`	`date-time`	An ISO `DateTime` string indicating when this `BatchPayment` was created.
`errors`	`array`	`string`	A list of errors, if any, associated with this `BatchPayment`.
`id`	`string`	`uuid`	The UUID that identifies a `BatchPayment`.
`number_of_payments`	`number`	`integer`	The number of `payments` associated with this `BatchPayment`. Will equal the number of `BatchPaymentItem` objects in the `payments` array.
`payments`	`array`	`BatchPaymentItem`	A list of payments associated with this batch. NOTE: Only present when the batch is valid and being fetched individually.
`raw_params`	`object`	`BatchPaymentPayload`	The original request parameters. Only present when the original `BatchPaymentPayload` was invalid.
`reference_id`	`string`		The `reference_id` value provided on batch creation in the `BatchPaymentPayload`.
`source_account`	`object`	`SourceAccount`	The `SourceAccount` used for this `BatchPayment`.
`status`	`string`	`pending` `unreconciled` `complete`	The current status of this `BatchPayment`.
`total_amount`	`string`	`decimal`	The total amount of the `BatchPayment`.

Example

{
  "created_at": "2022-01-31T19:58:22.894258Z",
  "errors": null,
  "id": "24b31b5c-4357-4245-a36e-b52217f6cbab",
  "number_of_payments": 4,
  "payments": [
    {
      "allocation": {
        "id": "35baee60-ad52-4715-b521-6096b1d391fe",
        "type": "loan"
      },
      "amount": "1.00",
      "borrower_id": "b72c6b71-5eaa-42e8-bd1b-7b0f12caea4c",
      "id": "3a5a83bd-ae47-4ed6-8cf9-946d0856bd7f",
      "reference_id": null,
      "status": "pending"
    },
    {
      "allocation": {
        "id": "952bd015-8f28-4bb0-95b3-45bc3a7b8448",
        "type": "loan"
      },
      "amount": "1.00",
      "borrower_id": "b72c6b71-5eaa-42e8-bd1b-7b0f12caea4c",
      "id": "51f483b1-1b32-4c80-9a18-37c90b050f62",
      "reference_id": null,
      "status": "pending"
    },
    {
      "allocation": {
        "id": "75715081-e513-4008-ad68-fa195c9de9f9",
        "type": "loan"
      },
      "amount": "1.00",
      "borrower_id": "b72c6b71-5eaa-42e8-bd1b-7b0f12caea4c",
      "id": "fd3acad2-5e34-4718-bbe6-212a55cb4cbf",
      "reference_id": null,
      "status": "pending"
    },
    {
      "allocation": {
        "id": "af86266e-820d-4bc9-9a6e-b8a1ef9f2ad5",
        "type": "loan"
      },
      "amount": "1.00",
      "borrower_id": "b72c6b71-5eaa-42e8-bd1b-7b0f12caea4c",
      "id": "63e9e51f-e51a-4801-b1e5-d9a6b9129c22",
      "reference_id": null,
      "status": "pending"
    }
  ],
  "reference_id": null,
  "source_account": {
    "account_number_last_4": "2374",
    "id": "976833b7-ea14-4b07-ba4c-cf5a24477b6d",
    "name_on_account": "Your Business, Inc.",
    "payments_supported": true,
    "routing_number": "123456789",
    "type": "checking"
  },
  "status": "pending",
  "total_amount": "4.00"
}

Creating BatchPayments

❗️Don't confuse Payments, PaymentSeries, and BatchPayments!

Do I need a Payment, a PaymentSeries, or a BatchPayment?

Schema Definition

Example

Creating `BatchPayments`

❗️
Don't confuse `Payments`, `PaymentSeries`, and `BatchPayments`!

Do I need a `Payment`, a `PaymentSeries`, or a `BatchPayment`?