Payments

Payments represent the movement of funds between accounts within our platform or to external destinations. The Payments API provides a comprehensive suite of tools to manage the entire payment lifecycle—from initial cost estimation to post-transaction documentation.

The Payments API Collection provides a set of endpoints required to manage all things related to payments

With this collection, you perform a collection of activities grouped into:

Payment Initiation
Quotes and Exchanges
Payment Operations
Payment Documentation

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Prerequisites

An account on the Lync Dashboard

Completed and Approved Compliance

Created and Secured App Keys

Core Concepts

Payments are central to financial operations, with each payment instance:

Defined Source & Destination: Clearly specified origin and target accounts/beneficiaries for the funds
State Management: Systematic progression through multiple processing states (PENDING → PROCESSING → COMPLETED, etc.)
Comprehensive Metadata: Detailed tracking of amounts, fees, exchange rates, timestamps, and related information
Documentation: Associated receipts and records for compliance and reconciliation purposes

Payment Types

Type	Description
Transfers	Direct movement of funds between accounts in the same currency
Exchanges	Currency conversion operations between accounts with different currencies
Deposits	Incoming funds from external sources
FxSettlement	Special type for tracking bulk settlement payment fulfilment (i.e single payment from Lync to Institution as part of batch Fx Settlement)

Payment States

State	Description	Next Possible States	User Actions Available
PENDING	Payment validated and queued for processing	PROCESSING, CANCELLED	Cancel
PROCESSING	Payment is actively being processed by the system	COMPLETED, FAILED	Limited cancellation (may incur fees)
COMPLETED	Payment successfully processed and funds delivered	None (terminal state)	None
FAILED	Payment could not be completed	None (terminal state)	Create new payment
CANCELLED	Payment cancelled by user or system	None (terminal state)	Create new payment
REVERSED	The payment was completed but subsequently reversed	None (terminal state)	Create new payment

Payment Lifecycle

Eligibility Check - Verify the feasibility of a proposed payment
Quote Generation - Calculate estimated costs, fees, and exchange rates
Payment Creation - Initiate the actual payment transaction
Processing - System handling of the payment execution
Settlement - [Optional] Final allocation of funds to destination accounts (batched sub-account exchanges flow)
Documentation - Generation of receipts and supporting documents

Available API Operations

Pre-Transaction Operations

Payment Quotes: Obtain accurate cost estimates before committing to a transaction
- Transfer cost estimation
- Exchange rate and fee calculations
Eligibility Checks: Validate that a proposed transfer can be processed and any additional information that may be required such as purpose_codes

Transaction Operations

Create Payments: Initiate various types of fund movements
- Outbound transfers to external beneficiaries
- Currency exchanges between accounts
Payment Management:
- List and filter payments based on multiple criteria such as dates, status, references, account_ids, etc
- Retrieve detailed information about specific payments
- Track payment status through processing stages

Post-Transaction Operations

Documentation Access: Retrieve official records related to completed payments if available such as SWIFT UETRs, IMAD-OMADs, etc
Receipt Generation: Download payment confirmations for accounting and record-keeping
Transaction History: Access comprehensive payment audit trails such as before and after balances after each payment as well as related Fx Payment Settlement if applicable

Integration Benefits

The Payments API is designed for seamless integration into your financial workflows, enabling:

Automated payment processing
Programmatic transaction monitoring
Systematic record-keeping and reconciliation
Comprehensive audit capabilities

By leveraging these APIs, you can create robust payment experiences while maintaining full visibility into the transaction lifecycle.