Send money from account to Mastercard and Visa cards.
Verestro’s payout solution enables users to accomplish transfer form account to Mastercard and VISA cards issued globally in real time. The solution supports around 155 currencies and it’s fully secure thanks to partnership with Certified payment institution and PCI DSS certificate. Payouts can be integrated with various acquirers, banks, money transfer operators and others.
How to connect with us?
Verestro provides access to the solution in through ready Money Transfers API. Thanks to that Partner can easily add a new feature to the existing solution.
Verestro provides Money Transfers API which is implemented according to the REST model. This API offers methods that allow not only to transfer money, but also to calculate commissions, collect available currencies for a given balance or authenticate the user and his card. Verestro team actively supports Customer with integration.
Payouts enable users to initiate transfers from account to Mastercard and VISA cards issued globally in real time. Verestro in partnership with Fenige (Certified Payment Institution) can enable it without difficult projects of Mastercard and/or VISA. Partner benefits from increase of revenues from transactions. There is no additional financial risk for partner.
- API ready to implement into existing platform of customer,
- Readiness: Live,
- Implementation time: 1-2 months.
This section provides general information about the solution, terminology description and a high-level description of the business and technical of the Payouts solution.
Institution uses Verestro Platform. This institution decides which product should be used and how transaction should be processed. Basically, Customer can be called Verestro Client.
Card belongs to the user. User can have many cards. Card is identified via internal id given after storing card on Verestro Wallet Server. Whole PAN is stored on Wallet Server which has PCI DSS certificate.
Partner’s user which triggers transaction to the Receiver (check User description).
Entity which gets funds sent by Sender.
PCI DSS (Payment Card Industry Data Security Standard) is a security standard used in environments where the data of payment cardholders is processed. The standard covers meticulous data processing control and protection of users against violations.
Verestro Payouts solution was created to make it easier for customers to transfer money from account to Mastercard and VISA cards.
Big picture of how Payouts solution works.
- Partner integrates with API provided by Verestro and presents new type of transfers in internet or mobile app.
- Partner signs contract with Fenige (financial institution) and user approves T&C of Fenige during transaction sending.
- Partner gets fees from user (Sender) and/or from Fenige for money transfers.
- Money transfers work globally.
Example of use cases
- End user sends money from Cryptowallet to Mastercard or VISA card.
- End user can send money from micro-loan to card.
- End user can initiate money transfer from wallet account to Mastercard and/or VISA card.
This are only view examples of use cases, payouts solution can be used by the partner in any way.
Payouts use cases
- User downloads partner’s application or open website
- User logs in using biometrical or pin authentication.
- User goes to money transfer section and chooses transfer from bank account to card.
- User enters amount, currency, receiver’s name and surname, and card number (16 digits).
- User confirms data and send money.
- User gets notification that money transfer was performed and can check details of transfer in payment history.
Click here to view documentation: https://documentation.fenige.pl