A payout API is a programming interface that enables businesses to automate and manage payments to their recipients, such as employees, vendors, freelancers, or customers. These APIs are commonly used in financial technology, payroll systems, e-commerce, and marketplace platforms.
Here’s an overview of what a payout API typically includes:
Key Features:
- Batch Payments
Send multiple payouts in a single request, often used for payroll or mass payouts. - Currency Support
Handle multiple currencies for international payouts. - Payment Methods
Support for bank transfers, digital wallets, checks, or even crypto payments. - Recipient Management
Store and manage recipient details securely, such as bank account or wallet information. - Status Tracking
Track payment statuses (e.g., pending, completed, failed) and receive notifications for changes. - Security
Use encryption, tokenization, and secure authentication methods like OAuth or API keys. - Compliance
Ensure adherence to regulations like AML (Anti-Money Laundering) and KYC (Know Your Customer).
Typical Endpoints:
- Authentication
Authenticate your application using API keys or OAuth tokens.- POST /auth/token
- Initiate Payout
Start a payout to a recipient.- POST /payouts
{ "recipient_id": "12345", "amount": 1000, "currency": "INR", "method": "bank_transfer" }
- POST /payouts
- Retrieve Payout Details
Get details of a specific payout.- GET /payouts/{payout_id}
- List Payouts
View all payouts within a specified date range or status.- GET /payouts
- Update Payout
Modify or cancel an existing payout (if not already processed).- PUT /payouts/{payout_id}
- Recipient Management
Add or update recipient details.- POST /recipients
- PUT /recipients/{recipient_id}
- Webhook Notifications
Set up webhooks for updates on payout status.- POST /webhooks
If you’re building or integrating a payout API, let me know if you’d like a sample implementation or more detailed guidance!
