Rapyd Bytes: Payout Workflow

In this video, you’ll learn how to create a payout as you walk through the payout workflow that aligns with your sender’s and beneficiary’s workflow steps.

00:03
hello and welcome to Rapid bites today we’re going to go over payout workflow rapid is an API first company and here in Rapid bytes we’ll show you how to work with our API to accept hold and disperse funds anywhere using local payment and payout methods be sure to check out our developer community in the link below you can ask anything fintech and connect with other rapid and fintech Developers uh thanks for watching I’m just here on the rapid disperse platform page which is um the platform for any payouts and you

00:43
can kind of go through here and discover uh the different features of payouts and being able to to fund your wallet to make a payout just want to note uh if you are looking uh to just make a transfer within the rapid ecosystem that you can do that between uh wallet so a wallet to wallet transfer that’s under the wallet platform that’s actually uh free that’s actually uh you know because it’s all within the rapid ecosystem this will be following the workflow to make a payout to from a rapid wallet to

01:21
a bank account and so you can do either a individual or a company who owns a wallet pay another individual or company and so I’m gonna go over we’re gonna cover uh um payout to a bank account and just look at a couple examples of some with it in the API with information all there but then also maybe some that has tokenization for the beneficiary and for the sender and then I am going to create a um uh a payout and look at the web hook and so here is actually the API reference where it has different requests bodies

02:13
and examples that you can look out more than a bank account but also here is an example of beneficiary token as well as the sender token here I’m just going to open this up for later and so let me head over to postman in which we will be testing in if you don’t have Postman yet there’s a video you can follow and just download everything just input your API Keys here and so the first API call in which I will be doing just going to jump back here here is a very very high level overview of including kind of the user

02:52
uh requesting um or the customer requesting you know payroll requesting a payout and then you the client uh kind of requesting rapid information but we’re gonna go through the specific steps uh here and so the first thing you’d want to do is list countries um and so you’re gonna list countries you know this is the user’s step of identifying or kind of designating noting where they’re from let’s say you know it’s from either Mexico uh or the US you know they’ll choose their specific

03:38
uh there’s a lot of countries that have USD so uh there we go and so you know they’ll choose their country uh you know this uh responds with the specific currency for that country to country code three letter currency in which are used a lot for different payment methods and so the second thing would be list payout methods list payout method type so you know we’re making a payout to the US and there are different banks so let’s look up the bank so General Bank we could do that and here we do see some information

04:25
payout currencies sender currencies there is a lot here but we’re going to look at the full list of required fields so here is a list here [Music] um uh let’s put in U.S general Bank and this will actually be us USD and so we have different beneficiary required fields we see payment type which is you know the payment method type address City country basic information you know all the way down to account number uh you know bank account um

05:28
and so these are all uh true so when as is required it’s true uh you would include that and so let me head to now create payout and so we are going through each call with the response and the flow US general Bank and so here we have uh basically the beneficiary information uh bank account um here and then the routing and then um we do have basically the sender information right here so that will be included they’re also in the US here’s the payout amount let’s make that 2050 all right that looks like it’s good to

06:20
go with all of the information here and it’s a success so we have the payout ID here let’s check out the status is always so status is created so we have that created it’s going through and the step will be the funds will be transferred to the provided count details of the beneficiary so let’s see what we can do to retrieve so retrieve payout we’re going to retrieve payout and this is going to pull up the information you know it’s created uh the first this is a success um and the payment is

07:11
uh going through and let’s say if I wanted to complete the payout how much was it 2050 and here that is a success that is basically you know completing the user’s end of uh making that payment and now we look at the status it says completed so now that beneficiary will have received um that those funds now if we wanted to follow again list countries list payout uh method types um uh another step we could add would be and this would probably be first would um beneficiary you know we could retrieve the beneficiary here

08:11
um just buy some of this information and then grab that let me save that and then also retrieve the sender or we could create a sender there’s one for us and let’s create that Center and so we have that and now let’s create a payout and as we’re going through kind of those same steps and just adding these two here’s a beneficiary ID sender beneficiary so the beneficiary was because we retrieved it was someone who’s already created we’re just uh
09:15
capturing that information merchant ID both are individuals and so we are doing just the same payment method U.S General Bank and looks like that went through and this was uh 1100 again the status is created we can retrieve that payout and that this is just to view it we don’t need to include that step it’s um you know assuming as the user would kind of sign in and go to you know pending uh payout reference in this but then they could complete this payout so let me do 1100.

10:03
and so we’re going to send that and now it looks like it was completed and so we can um retrieve this again let me just back up and again this was uh completed here and if we retrieve the other one that is going to say uh completed as well and so those are the steps for uh just following uh to create a payout just making sure you are you know listing the countries listing payout methods uh and the method types and then capturing the required fields to be able to make a payout um you can create a payout through you

10:50
know having all that information within the request or you can be able to um uh tokenize the sender or the beneficiary to be able to to create that payout as here so uh again thanks for watching if you have any questions comment below or you can make a comment or post at community.rapid.net thanks for watching have a great day