Overview
The Payswiftly Payout API enables businesses to manage automated financial transactions by integrating key payout processes. Here’s a more detailed guide on how to utilize the API:
Authentication: Each request requires an API key for authorization. You will receive this from your account manager.
Create Receivers: Begin by using the Create New Receiver endpoint to create a new receiver profile. This requires the receiver's personal details, such as name, email, and phone number.
Add Bank Accounts: After creating a receiver, associate a receiving account with them using the the appropriate Add Receiver Account endpoint. You'll need the bank details like the account number and branch information.
Initiate Payouts: Once the receiver and their bank account are set up, initiate a payout using the Create a Payout Transaction endpoint. Specify the receiver's ID and the amount to transfer.
Track Transactions: To monitor the status of payouts, you can use the Get Payout endpoint to check if the payout was successful, pending, or failed.
Webhooks: To handle event-driven updates, such as successful payouts or errors, provide your systems webhook url to your Account Manager. Webhooks will notify your system when an event occurs, enabling real-time tracking.
Error Handling: Every API response includes status codes. The documentation lists possible errors, like invalid parameters or authentication failures, and provides guidance on troubleshooting.
Example Workflow:
Authenticate using your API key.
Create a receiver with their details.
Attach a receiver account to the receiver.
Execute the payout.
Monitor the payout status.
Use webhooks for real-time event notifications.
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