What are the different payment flows?

The applicable payment flow scheme depends on your activity type.

We strongly suggest you integrate our solutions in your Enterprise sandbox environment based on the below payment schemes, as your production environment will be set up using the corresponding/applicable payment schemes.

For all the following payment schemes, the key is :

Understanding payment flows

👉   Marketplace

👉   Donors and money pots

👉   Crowdlending

👉   Crowdfactoring/Invoice Trading

👉   E-commerce

Marketplace

A virtual marketplace is a type of e-commerce website where products or services are provided by multiple third-party sellers.

You need to create a client technical account (External ID = MKP/) in your sandbox environment. This technical account will receive all incoming payments from your end-users before you can dispatch them - P2P - to the payment account of the concerned merchants.

The most common steps for this type of activity are:

1. Create a payment account for each merchant
2. Get the end-user incoming payment on the technical account
3. Transfer - P2P - the funds received on the technical account onto the client payment account of each concerned merchant
4. Transfer collected funds from the client payment account of the merchant onto the bank account of the merchant

Donors and money pots

A money collection platform allows anyone to create a virtual money pot and invite donors to help finance projects.

The most common steps for this type of activity are:

1. Create a payment account for the money pot as well as for each donor
2. Get the incoming payment on the payment account of the donor
3. Transfer - P2P - the funds received on the donor payment account onto the money pot payment account
4. Transfer collected funds from the money pot payment account onto the bank account of the money pot beneficiary

Crowdlending 

Crowdlending, also known as peer-to-peer lending (P2P), is the act of lending money to people or companies through online platforms that directly match lenders with borrowers.

The most common steps for this type of activity are:

1. Create a payment account for the project/borrower as well as for each investor/lender
2. Get the incoming payment on the payment account of the investor/lender
3. Transfer - P2P - the funds received on the investor/lender payment account onto the project/borrower payment account
4. Transfer collected funds from the project/borrower payment account onto the project/borrower bank account

The repayment (when applicable) works as follow:

1. The project/borrower credits their payment account usually by bank transfer or Sepa Direct Debit
2. The repayment is transferred - P2P - from the project/borrower payment account onto the payment account of each concerned lender/investor
3. The repayment is transferred from the payment account of the lender/investor onto the bank account of the lender/investor

Crowdfactoring/Invoice Trading

Crowdfactoring is the act of selling debts to a crowd of agents in exchange for cash flow.

You need to create a client technical account (External ID = FCT) in your sandbox environment. This technical account will receive all invoice repayments from debtors.

The most common steps for this type of activity are:

1. Create a payment account for the creditor as well as for each investor
2. Get the incoming payment on the payment account of the investor
3. Transfer - P2P - the funds received on the investor payment account onto the creditor payment account
4. Transfer collected funds from the creditor payment account onto the bank account of the creditor

The repayment of invoices from debtors works as follow:

1. The debtor credits the factoring technical account through a bank transfer, using the "ENVIRONMENTNAME-FACTORING COMMENT" description
2. Using the above comment (a unique invoice identifier per transaction provided to you by the debtor), the repayment is transferred - P2P - from the factoring technical account onto the payment account of the concerned investor
3. The repayment is transferred from the investor payment account onto the investor bank account

E-commerce

E-commerce refers to the buying and selling of goods or services online.

You need to create a client technical account (External ID = ECM) in your Enterprise sandbox environment. 

The most common steps for this type of activity are: 

1. Get the incoming funds on the technical account 
2. Transfer collected funds from your merchant payment account onto your bank account