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Payouts

What is it?​

Sending money to someone involves creating a payout transaction linked to their Fund account. A Fund account is associated with a Contact, which represents the person or entity receiving the payment. To initiate a payout, you'll need to provide the payout amount, the Contact's information, and the reason for the payment. Eligibility to make payouts is granted after completing the signup process, account activation, and KYC verification.

How do you do it?​

After the onboarding process carried out by Plural, the merchants can be enabled on payouts via IMPS, NEFT, RTGS and UPI.

Steps to be followed are:

  1. Merchant must first have a YBL current account:

    1. Yes - Bank must be requested to enable API banking for the account and credentials shared with merchant
    2. No:
      1. Merchant needs to open a YBL current account
      2. Once account is opened, API banking must be enabled and credentials shared

  2. Once merchant has a YBL account, he signs up on Plural Console to initiate a SalesForce driven onboarding process:

    1. Sign up start from here: https://pluralqaweb.pinepg.in/signup
    2. Our team contacts the merchant and collects the KYC documents for the SalesForce lead that is generated
    3. Lead is approved in SalesForce - Plural MID is generated here

  3. Merchant is onboarded to Edge via MCUI to generate the Edge MID

  4. Our team then approves the merchant from the Admin dashboard to start using Payouts:

    1. For UPI payouts, the merchant also needs to get the UPI details from the Bank and MID for the same
    2. Once bank shares these with the merchant, they need to be input into the system via the Add UPI account section in

  5. We share the JWT credentials the merchant needs to use to authenticate the merchant for Payouts APIs from the Plural Console in the customisation tab from Admin Settings page

Merchant Onboarding for UPI payouts via YBL​

  1. Once a merchant is onboarded to Plural for Payouts over Connected banking, they must be configured separately for UPI payouts
  2. For this, the merchant first needs an approved UPI handle tied to the current account used
    1. Our team will forward the necessary form to the merchant that they need to fill and send to YBL to get these details
    2. Merchant will fill the details in the form and share it to YBL
    3. YBL will revert with the UPI handle and all following details to the merchant, and they will forward some information that our teams will add to the account

Merchant Flow​

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Payout Failure​

Currently we offer Payouts over Connected Banking Solution in partnership with YBL.

This means that payouts are executed directly from a current account that the merchant owns.

In case of Payouts that fail with the following codes:

  1. FAILED
  2. 500/TIMEOUT
  3. PENDING past Bank SLA for transaction

Workflow​

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Lifecycle of Payout​

REJECTED- If payout has been rejected (Note it is in Checker's bucket).

SCHEDULED - If payout is scheduled for a later date and time.

PENDING - If there is insufficient account balance. Note : A scheduled payout can arrive at this status when the scheduled date and time is arrived at but there is insufficient account balance.

CANCELED - When a payout in PENDING or SCHEDULED status has been Canceled.

CREATED - When there is sufficient balance in the account and a transaction is created by making a Bank API call Note : This status continues to stay when bank has not acknowledged the call made for processing a transaction.

PROCESSING - When Bank API has been called and acknowledged.

SUCCESS -When bank responds with success of the transaction.

FAILED - When bank responds with failure of the transaction.