Bank transfer compliance
Introduction
This feature is targeted for merchants aggregators.
It allows the aggregator’s merchants to refill their wallet using bank transfers.
The aggregator will be notified upon HUB2 acknowledgement and will be able to notify back their merchants.
Life cycle
This is how the process looks like.
Compliance
Declare merchants business
First of all, before anything else, the aggregator must declare information about his merchants.
Multiple endpoints are available to manage the aggregated merchants.
Please check these endpoints in the API reference.
In order to keep track of a full history, please keep in mind that deleted data are kept in HUB2 database for compliance reasons. That also the case when editing a merchant information, previous data are kept.
Declare transaction
Whenever a merchant will send a bank transfer to HUB2 with the reference, the aggregator must also call HUB2 API to declare information about this transaction.
Please check these endpoints in the API reference.
- The transaction field
merchantName
is here to know for which merchant this transaction is accountable - The field
reference
is the one typed in the bank transfer
This is not a synchronous process, the aggregator can call the HUB2 API before of after the bank transfer occurs, it does not matter here.
Internal process
Whenever a bank transfer gets on the HUB2 accounts, cash management and control teams will perform checks:
- Using the reference in the bank transfer, they will seek the declared transaction associated with this reference
- Once found, they will perform checks on the information such as amount and currency
- Once validated, they will perform a deposit on the aggregator’s account on HUB2 platform
From there, the aggregator can be notified using the webhook event transaction.deposit
which will contains the reference.