Initiate a payment

You can initiate payouts from various sections of the application.

Through the Beneficiaries page:

Or directly via the Payouts page:

For more information about the payouts workflow, you can visit the dedicated page.

Initiate a payout

Platform

1. In the dashboard, go to the "Payouts" page.
2. Click on "Send payout".
3. Choose the source wallet from which the funds will be debited.
4. Specify the payout amount.
5. Select the beneficiary who will receive the funds and be credited.
6. To confirm the creation of the payout, enter the 2FA code.

Congratulations! You've successfully initiated your first payout.

Please note that a payout can only be executed between a wallet and beneficiary with the same asset.

You can track your payout transactions on both the "Payouts" page and within the “Wallets" page. For more information about the steps of the payout (multi-signature, insufficient funds, etc.), visit the transaction statuses page.

API

To initiate a payout, you must provide the beneficiary's ID and the transaction amount within the request body.

The beneficiary must already be created

Here is an example of a payload to send a payout from a specified Fipto wallet to a beneficiary:

{
  "data": {
    "type": "payout",
    "attributes": {
      "beneficiary_id": "c4e83a6f-1818-4986-91e5-6b68d13bdfaa",
      "amount": "10,000",
    }
  }
}

When the payout is initiated successfully, the following JSON is returned:

{
  "meta": {
    "request_id": "d0d2b16d-99ec-4cf1-a280-65f7e5969eb6"
  },
  "data": {
    "type": "payout",
    "attributes": {
      "wallet": {
        "wallet_id": "3mDCm5mkDZP1LOtVjYkysA",
        "wallet_name": "Stablecoin USDC - Project A"
      },
      "beneficiary_id": "c4e83a6f-1818-4986-91e5-6b68d13bdfaa",
      "amount": "10000",
      "status": "awaiting co-signer",
      "valuations": [
        {
          "asset": "EUR",
          "value": "9457.09"
        },
        {
          "asset": "USD",
          "value": "10000.01"
        }
      ],
      "transaction_id": "0gaK3vGXSEfJ6CPpOm2V6E",
      "created_at": "2023-03-30T09:42:00+00:00",
      "created_by": {
        "user_id": "eef28adf-8fd3-4a04-9ef7-e6568c993ba6"
      },
      "asset_code": "USDC_POLYGON",
      "signature": {
        "quorum": 2,
        "mfa": [
          "totp"
        ],
        "signatories": []
      }
    },
    "id": "3GH3iTIiOESB6Uj46bzNff"
  }
}

The response includes details such as the payout's status, the valuation of the payout in both EUR and USD (only for digital assets), the creation date, and the signature status (if multi-signature has been configured).

The payout is processed by Fipto and sent to the selected beneficiary. You can monitor the progress of your payouts step by step by retrieving transaction details.