This executes payout transactions across different currency pairs.
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Prerequisite
Before calling this endpoint, you must have:
- A valid rateId: Generated within the last 300 seconds from the Rate endpoint.
- Payment Metadata: The specific requirements (e.g.,
beneficiaryAccountNumber,SortCode) for the beneficiary currency.- Supporting Documents: If the
requireFileUploadflag was true in the requirements check, ensure the document has been uploaded and you have the SupportingDocumentReference.
Understanding the Reference Prefix
To prevent duplicate references across different merchants, Leatherback automatically appends a prefix derived from your business entity name to your provided reference.
- Your Input: SWIFTTEST
- System Output: ays-SWIFTTEST (where ays is the merchant-specific prefix)
INR (India) Transfer Purpose Codes
When initiating a payout to India (INR), regulatory authorities require a specific Purpose Code to be included in your request. This code categorizes the nature of the remittance for compliance and monitoring by the central bank.
Include the relevant code (e.g., PC15) within the transferPurpose field inside the metaData object of your request.
| Code | Purpose Category | Detailed Description |
|---|---|---|
| PC01 | Non-resident Credit | Credit to Non-resident (External) Rupee accounts maintained by Non-resident Indians. |
| PC02 | Family Maintenance | Payments to families of Non-resident Indians (NRIs). |
| PC03 | Investments (Insurance/MF) | Payments to Insurance companies, Mutual Funds, and Postmasters for premium investments. |
| PC04 | Banking Investments | Payments to bankers for investments in shares and debentures. |
| PC05 | Real Estate | Acquisition of residential flats in India (Housing Societies/Govt. Housing Schemes). |
| PC06 | Education | Tuition, boarding, and examination fees for schools and colleges. |
| PC07 | Medical | Payments to medical institutions and hospitals for medical treatment of NRIs or dependents. |
| PC08 | Hospitality | Payments to hotels for stays by NRIs or nationals of Gulf countries. |
| PC09 | Travel | Payments to travel agents for booking of passages of NRIs and families. |
| PC10 | Trade (Under 15L) | Trade transactions up to Rs. 15 lakhs per transaction. |
| PC11 | Utilities | Payments for water, electricity, telephone, internet, and television. |
| PC12 | Taxes | Tax payments within India. |
| PC13 | Loan Repayment (EMI) | EMI payments to Banks and NBFCs for repayment of loans. |
| PC14 | Relief Fund | Remittances directly credited to the Prime Minister's National Relief Fund. |
| PC15 | Salary | Monthly salary or wage payments to employees. |
| PC16 | Trade (Alternate) | Alternate code for trade transactions up to Rs. 15 lakhs per transaction. |
Transaction Limits
Codes PC10 and PC16 are restricted to transactions up to Rs. 15 lakhs. For business-to-business trade payments exceeding this amount, additional supporting documentation (such as an invoice) may be required.