Payout lifecycle

A payment starts with the payment details. When you create the payout, Axiym validates the instruction and returns the payment with its commercial terms. You review and confirm it for processing. The payment then proceeds through compliance review, settlement, and delivery to the beneficiary.

1. Prepare payment data

Prepare the details of the payment: who is paying, who receives the funds, the destination, the amount to send or receive, and the supporting information. The payment is funded from an active Axiym account enabled for payouts.

See Payment details for the information included in a payment.

2. Create the payout

Creating the payout submits the complete payment details. Axiym checks that the selected corridor is available and that the amount is within its limits, then validates the data.

Axiym calculates the amounts, exchange rate, fee, and expiry time and returns them with the payment in PENDING_CONFIRMATION. No funds are reserved at this stage. See Commercial terms.

Passing data validation does not constitute payment approval.

3. Review and confirmation

Review the prepared payment details before confirming the payout. Confirmation authorizes Axiym to process that instruction: it checks the available balance, reserves sourceAmount, and starts compliance review. Confirmation is not compliance approval or proof of payment.

For the API steps, see Create and confirm a payout.

4. Compliance review and approval

Axiym reviews the payment instruction against compliance requirements and transaction controls to determine whether the payment can proceed.

The reserved funds remain unavailable for other payments during review.

If the payment is rejected, it does not proceed to settlement or delivery, and the reserved funds are released.

5. Settlement

After approval, Axiym settles the payment by debiting the reserved amount from the funding account. This covers the payment amount and applicable fees.

Settlement records the account debit; it does not yet confirm that the beneficiary has received the payment.

6. Execution

Axiym submits the approved payment through the local banking route for delivery to the beneficiary. Updates from that route determine the payment's progress and final outcome.

A payment can complete successfully, fail, or be returned. A returned payment is not treated as successful completion.

7. Tracking and reconciliation

Axiym provides status updates and the final outcome. Track the payment until its outcome is known, then reconcile the payment and any resulting account movements against the funding account statement.

The operational stages above do not each have a separate API status. Use the returned payout status to track progress:

For implementation guidance, see Track a payout and Reconcile payouts.

When a payment cannot proceed

Changes and expiry

Review the payment details before confirmation. A material correction requires a new payout with valid commercial terms. An unconfirmed payout expires automatically if it is not confirmed in time.

For preparing payment data before submitting a payout request, see Prepare payment data.