Step 1: Receive Inbound Credit Transfer Authorisation
Overview
When Electrum receives an inbound payment request to one of your account holders, various checks are performed. These checks can be grouped under three categories:
- Industry rules
- Account validation
- Proxy resolution and enrichment (PayShap only)
Electrum will perform all required industry rule checks. These include checking against amount limits and time- or date-specific restrictions.
If you are using Electrum for account mirroring, then Electrum will also validate the account details of the beneficiary.
If you are using Electrum for PayShap proxy management, then Electrum will match the incoming proxy to its corresponding account and enrich the payment request message with this information.
If you are not using Electrum for PayShap proxy management, then the inbound credit transfer request will be preceded by a set of requests to your own proxy management system.
Once these checks have been completed, Electrum will deliver an authorisation request to you. This will allow you to confirm that the beneficiary account can receive the funds.
Implementing the API
Receive Request
Electrum sends an inboundCreditTransferAuthorisation request to your /transactions/inbound/credit-transfer-authorisation endpoint. The request will conform to the following schema:
Holds a point-to-point unique message identification string as well as a message's creation date time.
The date and time at which the message was created, in senders local timezone or UTC. The date must be formatted as defined by date-time in RFC3339
A reference used to unambiguously identify the message between the sending and receiving party. Take note that this uniquely identifies a single message in a potentially multi-message exchange to complete a payment.
A list of key-value pairs to support adding any supplementary/additional data to an Electrum Regulated Payments API message.
Holds a series of identifiers to identify the transaction or an individual message that is part of a transaction.
Unique identification, as assigned by the initiating party, to unambiguously identify the transaction. This identification is passed on, unchanged, throughout the entire end-to-end chain. Note: this is distinct from the UETR.
Unique identification, as assigned by an instructing party for an instructed party, to unambiguously identify the instruction. The instruction identification is a point to point reference that can be used between the instructing party and the instructed party to refer to the individual instruction. It can be included in several messages related to the instruction.
Unique identification, as assigned by the first instructing agent, to unambiguously identify the transaction that is passed on, unchanged, throughout the entire interbank chain. Usage: The transaction identification can be used for reconciliation, tracking or to link tasks relating to the transaction on the interbank level. Usage: The instructing agent has to make sure that the transaction identification is unique for a pre-agreed period.
Universally unique identifier to provide an end-to-end reference of a payment transaction. This identifier remains the same for all messages related to the same transaction.
A valid, active currency code as defined in ISO 4217 indicating the currency of the amount.
The payment amount in the denomination of the indicated currency, in the format '<major units>.<minor units> with the number of minor units (fractional digits) compliant with the number of decimal places published in ISO 4217.
| Currency Code | Example | Valid | Notes |
|---|---|---|---|
| USD | 10.0 | ✓ | Represents 10 USD and no cents. |
| USD | 10.00 | ✓ | |
| USD | 10.001 | ✗ | US dollar does not support three decimal places. |
| JPY | 10.0 | ✓ | Represents 10 Japanese Yen. |
| JPY | 10.1 | ✗ | Japanese Yen does not support decimal places. |
This model is the basic representation of a Party. It is expanded on depending on whether the party is a person or an organisation.
A code to identify a country, a dependency, or another area of particular geopolitical interest, on the basis of country names obtained from the United Nations (ISO 3166, Alpha-2 code).
The identification of a party, either a person or an organisation.
The name by which this party is commonly known in day to day use. For example, a shortening of their legal name or a nickname that they commonly use. This is "non-official". However, it is acceptable for this field to be set to the same as legalName.
The legal name by which this party is known (the "FICA" name). This is the full name of the party as found on country-issued documentation (national identity, company registration documentation etc).
Representation of an account for payment purposes. Note that at least one of identification or proxy is expected to be present.
Identification of the currency in which the account is held.
Name of the account, as assigned by the account servicing institution, in agreement with the account owner in order to provide an additional means of identification of the account.
A code allocated to a financial or non-financial institution by the ISO 9362 Registration Authority as described in ISO 9362 Banking - Banking telecommunication messages - Business identifier code (BIC)
An organisation identified by a code allocated to a party as described in ISO 17442 Financial Services - Legal Entity Identifier (LEI).
Name by which an institution is known and which is usually used to identify that institution
A unique identifier assigned to a company or organisation by a duly appointed authority within a country.
Deprecated. Please use the preferred clearingSystemMemberId.memberId instead. Identification of a member of a clearing system.
This model is the basic representation of a Party. It is expanded on depending on whether the party is a person or an organisation.
A code to identify a country, a dependency, or another area of particular geopolitical interest, on the basis of country names obtained from the United Nations (ISO 3166, Alpha-2 code).
The identification of a party, either a person or an organisation.
The name by which this party is commonly known in day to day use. For example, a shortening of their legal name or a nickname that they commonly use. This is "non-official". However, it is acceptable for this field to be set to the same as legalName.
The legal name by which this party is known (the "FICA" name). This is the full name of the party as found on country-issued documentation (national identity, company registration documentation etc).
Representation of an account for payment purposes. Note that at least one of identification or proxy is expected to be present.
A code allocated to a financial or non-financial institution by the ISO 9362 Registration Authority as described in ISO 9362 Banking - Banking telecommunication messages - Business identifier code (BIC)
An organisation identified by a code allocated to a party as described in ISO 17442 Financial Services - Legal Entity Identifier (LEI).
Name by which an institution is known and which is usually used to identify that institution
A unique identifier assigned to a company or organisation by a duly appointed authority within a country.
Deprecated. Please use the preferred clearingSystemMemberId.memberId instead. Identification of a member of a clearing system.
Further information related to the processing of the payment instruction, provided by the initiating party, and intended for the creditor agent.
Agents between the debtor's agent and the creditor's agent. Usage: If more than one intermediary agent is present, then IntermediaryAgent1 identifies the agent between the DebtorAgent and the IntermediaryAgent2
Designates which scheme a customer credit transfer is associated with and describes scheme-specific information for the credit transfer.
Information necessary for FI to FI customer credit transfers, specifically for CBPR+
DEBT(BorneByDebtor): All transaction charges are to be borne by the debtorCRED(BorneByCreditor): All transaction charges are to be borne by the creditorSHAR(Shared): In a credit transfer context, means that transaction charges on the sender side are to be borne by the debtor, transaction charges on the receiver side are to be borne by the creditor. In a direct debit context, means that transaction charges on the sender side are to be borne by the creditor, transaction charges on the receiver side are to be borne by the debtor.SLEV(FollowingServiceLevel): Charges are to be applied following the rules agreed in the service level and/or scheme
Factor used to convert an amount from one currency into another. This reflects the price at which one currency was bought with another currency.
Agent(s) between the debtor's agent and the instructing agent.
Specifies the underlying reason for the payment transaction
Date on which the amount of money ceases to be available to the agent that owes it and when the amount of money becomes available to the agent to which it is due.
Respond With Success
If you receive the request successfully and are able to submit it for asynchronous processing, then respond with an HTTP 202 status.
Respond With An Error
If you experience an error while handling the request and are unable to submit it for asynchronous processing, then respond with an appropriate error response. Electrum will respond to the scheme that the payment has been declined. No further action from you is required for this transaction.
Timeout
If Electrum does not receive either an acknowledgement or an error response from you within the appropriate time limit then Electrum will respond to the scheme that the payment was unsuccessful. No further action is required from you.