Overview
The Payment API lets you use an Axiym account to make cross-border payments to beneficiaries. When currencies differ, Axiym converts the funds and delivers the payment in the specified destination currency.
Each payment is represented by an instruction to pay one beneficiary. You can track the payment through validation, approval, settlement, and execution.
What every payment needs
A funded Axiym account
The account holds the balance used to fund payments and determines the funding currency. It must be active, enabled for payouts, and sufficiently funded.
Complete payment details
The funding account, amount, recipient, and destination, plus sender details where applicable and any purpose or supporting documents required by the corridor. A reference is optional.
Confirmed commercial terms
Axiym calculates the amounts, exchange rate, and fee when the payment is created. Review and confirm the returned payment before those terms expire.
How a payout works
- Start with a funded Axiym account that is enabled for payouts.
- Provide the funding account, recipient and destination, and exactly one of
sourceAmountordestinationAmount. Include sender details when paying on behalf of another party, and purpose and supporting documents when required by the corridor. A reference is optional. - Create the payout. Axiym checks availability, limits, and required data; applies saved value translations when a map is used; and calculates the commercial terms.
- Review the returned payment, including its prepared details, amounts, exchange rate, fee, and expiry time. No funds are reserved at this point.
- Confirm the payment before its terms expire. Confirmation reserves the total payable and starts processing.
- Axiym reviews, settles, and executes the payment for delivery to the beneficiary.
- Track the payment's status and reconcile the resulting account movement.
The payment parties
The sender is the
party making the payment. This can be your organization or a customer you are
paying on behalf of. When paying for yourself, omit sender; Axiym uses the
account holder's onboarded profile.
The recipient, also called the beneficiary, is the party receiving the payment.
The information required about each party depends on the payment’s destination and applicable requirements. This may include business identification, address, ownership information, and the recipient’s bank account details.
Where to go next
- Read Payout lifecycle for the processing stages and failure boundaries.
- Read Payment details for the information included in a payment and how requirements vary by destination.
- Follow Make your first payout when you are ready to integrate.