Velo Payments APIs

Terms and Definitions

Throughout this document and the Velo platform the following terms are used:

• Payor. An entity (typically a corporation) which wishes to pay funds to one or more payees via a payout.
• Payee. The recipient of funds paid out by a payor.
• Payment. A single transfer of funds from a payor to a payee.
• Payout. A batch of Payments, typically used by a payor to logically group payments (e.g. by business day). Technically there need be no relationship between the payments in a payout - a single payout can contain payments to multiple payees and/or multiple payments to a single payee.
• Sandbox. An integration environment provided by Velo Payments which offers a similar API experience to the production environment, but all funding and payment events are simulated, along with many other services such as OFAC sanctions list checking.

Overview

The Velo Payments API allows a payor to perform a number of operations. The following is a list of the main capabilities in a natural order of execution: