Overview

Purpose

B2B remittances via the ecommpay payment platform help merchants build strong financial relationships with their trade partners on the basis of the same platform the merchants use for processing payments of their customers. This solution eliminates the need to work with individual payment orders using additional services and banks and, as a whole, simplifies business and technical processes.

Working with remittance recipient accounts

Payments to corporate accounts require due diligence checks to ensure compliance with the current rules and regulations of different regulatory authorities. In the platform, this is achieved by creating recipient accounts that contain detailed information about the prospective recipients of such payments.

Each new recipient account with the information about the merchant's partner is sent for approval to ecommpay where payment details and other data are validated and verified. As a rule, the process of approval takes two business days.

Once the account has been approved, the merchant can create orders to pay this particular partner without the need to enter the information about the partner every single time.

In the platform, processing B2B payments involves creating recipient accounts that contain the information about the merchant's partners and sending these accounts for approval to ecommpay where payment details and other data are validated and verified. As a rule, the process of approval takes two business days. Once a certain account has been approved, the merchant can create orders to pay this particular partner without the need to enter the same information about the partner every single time.

Remittance recipient accounts can have the following statuses:

• Draft is assigned to saved drafts; the account can be edited.
• Created is assigned to created accounts that have been sent for approval; the account cannot be edited or deleted.
• Active is assigned to accounts that have been approved by ecommpay.
• Denied is assigned to accounts that have not been approved by ecommpay.
• Expired is assigned to expired accounts.

These statuses are used for working with recipient accounts both via Dashboard and the Gate API.

Making B2B payments to partners

In the payment platform, payments to corporate accounts are carried out using the remittance payment type that utilises one request to initiate a one-time transfer of funds from the merchant's account to the partner's account.

When the remittance order is created (both via Dashboard and the Gate API), a remittance request is sent to the platform. Once the platform receives the request, it creates a payout operation. In certain cases, the order may require additional approval by the ecommpay specialists, which can take two or more business days. The payment is assigned the awaiting approval status, and, if the status persists for more than 14 business days, the payment is declined.

The remittance payment can have the following statuses:

The payout operation can have the following statuses: