Collect request

This page gives you an overview of Decentro's collections capabilities using the collect flow.

Overview

This collection of APIs enables you to collect money via UPI (Unified Payments Interface) from your customers or enable your partner businesses/SMEs to do the same from a specific UPI handle (VPA).

Flow

Collection requests powered by Decentro allow platforms to request money to specific UPI IDs through their app or website. Decentro powers 2 types of flows.

  • Collection Request: This flow requires the payer to go to the UPI app where the VPA is registered and approve the transaction using the MPIN. It doesn't check the bank account linked to the UPI ID and will go through regardless of the bank account linked.
  • Collect Request with TPV: this flow requires the payer to go to the UPI app where the VPA is registered and approve the transaction using the MPIN. This flow checks the bank account linked to the UPI ID and will be processed if the account linked matches the bank account passed by the platform as part of the request.

Usecases

Decentro's payment link can be used to cater to multiple use-cases.

  • Repayments: collect one-time repayments or downpayments from borrowers on your app which can be settled to the lender's account directly.
  • Investments: collect one-time from your customers which can be settled to a clearing house or AMC for investment use-cases like Mutual funds, etc.
  • Deposits: collect one-time from your customers which can be settled to a bank partner for topping up fixed or recurring deposits.
  • E-commerce: collect from your customers for shopping online on your app and settle to your account or the seller if required.
  • Investments: collect from investors from specific validated bank accounts linked to the UPI handles or refund the funds to the source.

Pre-requisites

  • Create a virtual account for a customer/partner/vendor with Decentro through APIs or from Decentro's dashboard.
  • Configure a Master virtual account for yourself. Please mail us at [email protected] for Decentro to configure this at its end.
  • Configure callbacks for balance if you wish to see your ledger balance. Please mail us at [email protected] with the callback endpoints.
  • Configure callbacks for transaction for transaction-level updates. Please email us at [email protected] with the callback endpoints.

Flow

Below is the flow if the platform leverages Decentro's collection request capability.

  • The platform creates a collect request by passing the relevant payee account number and VPA using the Issue Collect Request API.
  • The payer receives a notification from the relevant UPI app or SMS indicating that the platform requests a payment.
  • The payer opens the UPI app where the VPA is registered and authorizes the transaction by entering a valid MPIN.
  • The platform receives a transaction status callback from Decentro to a pre-configured endpoint.
  • The platform receives an account balance callback from Decentro with the updated balance for successful transactions only against the passed ledger account number (payee account number).
  • The platform can also check the request status using the reference ID generated from the collection request using the Check Payment Status API.
  • The platform can also request a transaction refund by using the Issue UPI Refund API, which will refund the original amount to the payer's account.

The platform can undertake the above activities on Decentro's dashboard, view the status of a request, and download the reports.

Decentro settles the funds collected on behalf of the platform to the registered bank account according to the agreed-upon timelines, which are shared at the time of onboarding.

Link to the Issue Collect Request

If you have any queries, please refer to the Collections FAQs page.