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  1. Apache Fineract
  2. FINERACT-706

Payments switch integration

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    Details

    • Type: New Feature
    • Status: Closed
    • Priority: Major
    • Resolution: Fixed
    • Affects Version/s: 1.3.0
    • Fix Version/s: 1.4.0
    • Component/s: Accounting
    • Labels:

      Description

      This is a ticket to cover the new requirements from integration with a payment switching solution, using best practices in a push-payment real-time environment.  https://lists.apache.org/thread.html/fa8f745cd7228a8f8418561ddadc715a3388d01656bcbc28680f86f2@%3Cdev.fineract.apache.org%3E 

      Basically, there are a few minor changes are needed to fineract1.x to support integration with a payments hub. The payments hub will handle most of the functionality, so the changes to fineract1.x are to be minimal. 

      A new package will be created with new API endpoints. 

      The functional requirements will include: 

      • Get a quote 
      • Hold funds 
      • Send funds (confirmed ) 

      Assuming customers are authenticated and using a front end solution, in the payments flow, end users (payors) get a "Request for Payment" (RfP) from a Payee and after getting a quote for the cost of that payment, they do a Payment Initiation.  When they initiate the payment their  checking/savings account shows an entry which is debit-amount-on-hold. 

      There is a further requirement around lookup values - where a new "secondary ID" is needed in the account table.  That secondary ID is used for the routing address of the payee. 

       To further explain the intent, imagine a payments switch between two instances of fineract, the switch or "interoperable service for transfers" (IST) talks over APIs to a thin "Payments Hub" on the fineract infrastructure.  

       

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            • Assignee:
              Unassigned
              Reporter:
              jamespdailey James Dailey
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