Beneficiary Management

Beneficiary is a prerequisite for payments. The system requires creating a unique beneficiaryId for each beneficiary.

Account Query

Before initiating payments, you can query account information through the following APIs:

APIDescription
Query Account CurrenciesTransfer APIQuery the list of currencies supported by the merchant
Query Account BalanceTransfer APIQuery available balance, frozen balance, etc. for each currency
Query Payment MethodsTransfer APIQuery supported payment methods for the target country
Query Exchange RateTransfer APIQuery real-time exchange rates

Create Beneficiary

Creating a beneficiary is a preparatory step before initiating payments. By pre-creating beneficiaries, you ensure that each beneficiary's account information is verified and archived, improving payment accuracy and compliance.

Use Cases:

ScenarioDescriptionBenefit
Frequent Beneficiary ListPre-establish payment accounts for suppliers, employees, partnersReduce repetitive data entry
High-frequency PaymentsBusiness pays to the same account multiple timesImprove efficiency
Batch SettlementExternal payments, refunds, settlements, and other high-frequency scenariosBatch processing

Process Flow:

Step 1: Collect Basic Information

Determine the following basic information:

Step 2: Query Required Fields

Different countries, currencies, and payment methods require different fields. Query first to confirm.

API: Query Beneficiary Required FieldsTransfer API

Query based on the following parameters: country, currency, entity type, payment method. The system returns a complete list of required fields to ensure beneficiary information is complete and compliant.

Step 3: Submit Create Request

API: Add BeneficiaryTransfer API

  1. Submit beneficiary information
  2. System performs validation
  3. Returns beneficiaryId after validation passes
  • Ensure all required fields are filled
  • Bank account information must be accurate
  • Beneficiary information must comply with local regulatory requirements

Step 4: Use beneficiaryId to Initiate Payment

  1. Save the beneficiaryId
  2. Reference this ID when initiating payment (Initiate Payment APITransfer API)
  3. No need to re-enter beneficiary information

Query Beneficiary

Query beneficiaries to view and manage created beneficiary information.

Single Query:

API: Query Beneficiary DetailsTransfer API

Query by beneficiaryId, returns complete beneficiary details (basic info, account info, review status, creation/update time).

Use cases: Verify information before payment, check review status.

Batch Query:

API: Query Beneficiary ListTransfer API

Supports filtering by country, currency, status, etc., with pagination support.

Use cases: System synchronization, reconciliation, status monitoring. Recommended batch query limit is 100 records per page; use pagination to retrieve all data.

Manage Beneficiary

APIDescription
Edit BeneficiaryTransfer APIUpdate beneficiary information
Delete BeneficiaryTransfer APIDelete beneficiary

Edit Restrictions: The following fields cannot be modified after creation. To change, delete and recreate:

  • Account location (country/region)
  • Currency
  • Entity type (Individual/Business)

FAQ

Q: How soon can I use a beneficiary after creation? Immediately available for payments after successful creation.

Q: Can I use the same beneficiary multiple times? Yes, once created, it can be reused unlimited times.

Q: Do I need to create different beneficiaries for different currencies? Yes, the same beneficiary with different currencies requires different beneficiaryIds.

Q: Do I need to create different beneficiaries for different payment methods? Yes, the same beneficiary with different payment methods requires different beneficiaryIds.

Cash Pickup

Recipients can collect cash at designated locations, covering unbanked populations

Initiate Payment

ONERWAY payment flow consists of four phases - initialization and pre-setup, initiate payment, get transaction result, and transaction completion handling