Any financial transaction has the following flow:
For an existing customer, an inquiry can be made to check if a customer with a mobile number exists or not on the platform. If the customer does not exist then the customer needs to be created
A customer is created with a mobile number and name. The mobile number needs to be verified via OTP
FETCHING LIST OF RECIPIENTS
For an existing customer, the list of recipients can be fetched for a customer
For transferring money to a bank account, a recipient (bank account) needs to be added to a customer profile. The bank account number can be verified by returning the name of the beneficiary bank account. This functionality also needs to be developed for an existing customer who wants to add a new bank account
A transaction can be initiated into a bank account via IMPS/NEFT for a customer.
For a cash to digital transaction, if the transaction fails then the customer can take refund via OTP
For a transaction which is in pending state, an inquiry can be made on the system to check the current status of the transaction using Eko transaction id or client's unique reference id.
Check out the flows for a remittance transaction below:
The following excel sheet lists all the APIs that need to be covered for money transfer transaction. The filled excel sheet will be required by Eko team to approve the flows.
The flow can be referred here as well: http://blog.eko.co.in/enable-remittance-services-using-eko-apis/
Updated about 1 year ago