Payouts

Decentro provides the capability to pay to bank accounts of customers, individuals, or businesses using any of the supporting modes of transfers through its dashboard or suite of APIs. Decentro's dashboard provides all the available capabilities through its APIs so that you can go live instantly with minimal tech effort.

Overview

Decentro powers payouts across multiple modes (IMPS, UPI, RTGS, NEFT) to bank accounts or UPI IDs (VPAs) either on its own account or the platform's account.

Payouts Usecases

Typical usecases powered by Decentro include but are not restricted to.

• Vendor payouts: instantly pay towards receipt of goods or services to your vendors or distributors.
• Payroll & Reimbursements: pay salaries, ad-hoc expenses, or employee reimbursements to employees or agents.
• Disbursements: disburse loans or credit lines to merchants or consumers' bank accounts through your own or lender's account.

Payouts Flow

Decentro recommends using a single virtual account and using beneficiaries. Below is the process flow for payouts.

• Validate bank account using our Penny drop service instantly to know who the account belongs to and if its a valid bank account.
• Validate the UPI ID using our Validate VPA service service instantly to know who the VPA belongs to and if it's a valid VPA.
• Load funds into the allocated virtual account (wallet) from a white-listed bank account.
• Add beneficiaries against the created virtual account before initiating a payout.
• Payout to your beneficiaries using any of the supported modes using our Payout services.
• Decentro triggers account balance) callback against the Virtual account into which the funds are credited and debited
• Decentro triggers transaction callback against the Virtual account into which the funds are credited
• Check the status of the payout by hitting the transaction status API as an alternative to callbacks

Loading of Funds

Decentro mandates a platform to load funds to a wallet as a virtual account on its account or the platform's account before doing a payout. This is to ensure that the platform has sufficient funds to undertake payouts. A platform can load funds as outlined here.

Beneficiary Management

Decentro recommends adding beneficiaries for repeated beneficiaries to avoid the hassle of passing entire beneficiary details at the time of an outgoing transaction. Decentro provides the below capabilities on beneficiary management as documented Manage Beneficiary

Initiate Payout

This capability allows you to facilitate money transfers to/from your customers' linked virtual bank accounts from within your application.

Get Transaction Status

This API can be used by the platform to check the status of the outgoing transactions initiated which is covered in detail here. Get Transaction Status must be used on scenarios where Transaction Status Callback is not triggered by Decentro to your systems.

Callbacks

There are two types of callbacks to be used for payouts.

• Transaction Status Callback: This callback will be used by the platform to check the status of the payout transaction. This callback is triggered when the payout transaction reaches its final status.
• Account Balance Callback: This callback will be used by the platform to check the balance of your virtual account whenever there is a funds movement from the virtual account.