Direct 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 capabilities that are available through its APIs so that you can go live instantly with minimal tech effort.

It is recommended that the platform Add a Beneficiary before initiating payouts. This is in line with RBI guidelines.

The platform can Add a Beneficiary so that transfers to the same customer can be done repeatedly without hassles by passing only the beneficiary code details instead of passing the entire beneficiary details.

Decentro also recommends the platform Validate bank accounts before transacting to ensure the recipient is as per records.

Beneficiary

Decentro recommends adding beneficiaries to avoid the hassle of passing entire beneficiary details at the time of an outgoing transaction. Decentro provides the below capabilities pertaining to beneficiary management.

• Add Beneficiary: this allows the platform to add a beneficiary against any virtual account. The platform can whitelist the type of transfers this beneficiary can receive funds (IMPS/UPI/NEFT/RTGS)
• Update Beneficiary: this allows the platform to modify an existing beneficiary against any virtual account. The platform can whitelist the type of transfers this beneficiary can receive funds (IMPS/UPI/NEFT/RTGS).
• Disable Beneficiary: this allows the platform to disable an existing beneficiary against any virtual account. This action will result in Decentro rejecting any transaction to the beneficiary

Note: Decentro supports adding multiple beneficiaries against a single virtual account.

Add Beneficiaries

This API can be used to add registered beneficiaries against each virtual account to add, update, or delete them.

Link to Manage Beneficiaries

Manage Beneficiaries

Add / Update / Disable any beneficiary for sending money from the virtual account (on top of the underlying physical bank account).

Link to Manage Beneficiaries

Once a beneficiary is added, the platform can use the beneficiary code to keep doing the payouts as required.

Settlements

Settlement is a bank account that will be mapped against a virtual account to which Decentro will auto-settle funds from its account if not settled by the platform on a pre-agreed basis. Please connect with us at [email protected] to have the settlement logic configured.

With this API, you can Add settlement accounts for sending money from the virtual accounts.

The settlement account needs to be an actual bank account and cannot be a virtual account or another nodal account.

Unlike payouts, Settlement is managed by Decentro completely.

Link to Settlement Account

Validate Bank Account (Penny Less / Penny Drop)

This API allows you to automatically validate a bank account by doing a penny drop (small deposit) transaction. It is a sync API, and Decentro returns the response of the account immediately.

Decentro provides the service of validating bank accounts without doing a penny drop (Penny Less). With the combination of a penny less and penny drops, the hybrid mode will provide better coverage for validating bank accounts and reduce the use of penny drops.

Decentro recommends using this API before initiating a payout to a beneficiary to ensure the account is valid and belongs to the concerned individual/entity.

Link to Validate Bank Account

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Simulation Data

Validate bank account scenarios can be simulated basis the test data here.

Note: Decentro provides a sandbox for testing all the scenarios.

Initiate Payout

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

Decentro provides the below type of transfers.

• Virtual account to Virtual account within our outside Decentro's ecosystem
• Virtual account to actual bank account
• Virtual account to UPI handle (individual or business)

Decentro supports the below modes of transfers.

• NEFT
• RTGS
• IMPS
• UPI

IMPS and UPI are instant settlements to the beneficiary account. NEFT typically takes 2 hours for settlement while RTGS takes 3 hours for settlement.

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Note:

Decentro will be removing special characters from payee_name automatically.

Link to Initiate Payout

Transaction Limits

Please note the below transaction limits as prescribed by RBI.

Get Transaction Status

This API can be used by you to check the outgoing transactions that were initiated by your customers.

Two main parameters are required -

• reference_id ((mandatory if decentro_txn_id is not present) The request ID passed by you for this transaction when initiating it earlier.)
• decentro_txn_id ((mandatory if reference_id is not present) The decentro transaction id that we responded with while providing the initiate payment response.)

Link to Get Transaction Status

This feature is also available on Decentro's dashboard at a transaction level under the 'Payouts' tab for any transaction that is in the 'Pending' state. If a platform wishes to not integrate this API, they can check the status using the dashboard directly.

Callbacks

Decentro typically triggers callbacks for payouts as well.