Partner Beneficiary Management 2.0.0
API for our Partners to register and fetch beneficiaries of their customers for RMT transactions.
Overview
The Partner Beneficiary Management API is available to partner institutions to allow their users to register their RAKMoneyTransfer beneficiaries by passing details of the beneficiary, like beneficiary name, bank name, account id and routing details, as a pre-step to making payments. This helps the customer make payments quickly without having to pass on all the details of the beneficiary each time. Use this API to fetch the list of registered beneficiaries of the customer for making the payment.
Customers can add two types of beneficiaries
- Instant Account Transfer beneficiaries to supported corridors- (transfer_type as OutsideUAE)
- Instant Cash Transfer beneficiaries to supported corridors- (transfer_type as RAKMoneyCashPayout)
Pre - requisites
- Before allowing their customer to utilize this service, partners must ensure that the customer is fully on-boarded at our end.
- RAKMoneyTransfer Beneficiary Banks API can be invoked to search for a particular bank, in the scenario of Outside UAE account transfer beneficiary addition.
Next Steps
Select a beneficiary created using this API to make an instant payment using Partner RAKMoneyTransfer API.
Use cases
Beneficiary creation from Partner App
Let your customer search and select a beneficiary bank using RAKMoneyTransfer Beneficiary Banks API and instantly register a RAKMoneyTransfer beneficiary with us, using this API.
Beneficiary selection from Partner App
Allow your users to choose from their registered RAKMoneyTransfer beneficiaries to make instant transfers and view their transactions, without having to leave your App!