FAQs - Global Payments

This section outlines some of the most important FAQs pertaining to payments module. If you have any other queries, please reach out to us at [email protected].

1. How do a platform get access to Decentro's Payments product?

To access Decentro's Payments product, platforms must open a connected account, a two-step process. Firstly, platforms submit their business's KYC details to Decentro for review, creating the connected account. Decentro then conducts a thorough review and activates the connected account upon satisfactory KYC verification.

2. How can a platform accept money using Decentro's Payments product?

Platforms can start accepting money using Decentro's virtual account based collections. The flow comprises of following two steps -

Platform creates a virtual account in the currency it wants to collect money using create virtual account API. Upon successful execution of create virtual account API, platforms will receive account details in the response that they can share with their payers
Platform's payer uses the account details to initiate the transfer. Once the transfer is successful, platforms are alerted by the Deposit Web Hook. This web hook contains all the transaction related details.

3. What are the supported payment methods for virtual account based collections?

The supported payment method for virtual account based collections is bank transfer either on LOCAL wallet based payment rails or on SWIFT network.

4. What is the unique identifier or parameter that platforms can utilize to associate a settlement with its corresponding webhook?

Decentro includes the payment_unique_reference_number in both the Request Settlement API and the Settlement Status Update webhook. Platforms can leverage this parameter to effectively tag and correlate the webhook with the specific payout transaction.

6. The payment amount in payout response payload and web hook payload, is it including commissions or not?

This depends upon the billing method that platform has agreed with Decentro:

Pay as you go - The payment amount includes commissions
Postpaid - The payment amount does not includes commissions

7. What is the average TAT for Settlement API

The average TAT for our settlement API is 1.6 seconds.