Setting up Webhook Notifications
To receive events from the Finswich Platform
There are two types of webhooks that are used to communicate with the Finswich platform. The outgoing webhook is used to communicate with a merchant when their users want to send funds to another platform (Outgoing Transactions) while the incoming webhook is used when a user from another platform transacts with their own users (Incoming transactions).
An outgoing transaction is a kind of transaction in which the users on your platform intend to send money on your wallet to other wallets, banks in other countries.
BEFORE INTEGRATION - DO THIS
Before you begin any integration you need to have created an outgoing endpoint where all request between Finswich & your application will take place. See Below for Image reference
Setting the outgoing webhook URL
To perform an outgoing transaction on Finswich, there are 4 events that you has to take place.
1. Retrieve User Event - The Finswich platform will contact your application to get the user data and display it on the Wallet Checkout. This is important as it allows users to see their balance while they perform transactions on the checkout.
2. Transaction Initiate - Once the Wallet Checkout is opened, the transaction Initiate is trigger when the user want to perform a transaction and they need to authorize the transaction as shown below.
3. Send OTP - At the initiation of the transaction, an OTP request is sent to your application for you to generate an OTP for your user to that they can authorize the payment. Once the user submit the OTP, we will combine the data with the Complete Transaction Payload that will be sent to your application.
4. Complete Transactions - Finswich will send you the payload request with the OTP. You have the sole responsibility to verify the OTP before you issue an authorization for Finswich to honor the request.
a. User Category according to the policy you created on your Finswich dashboard will apply for every outgoing transaction. I.e If a user’s category can only send $100 per day, that limit will apply for everything such user can do on the Finswich Checkout.
b. If you do not create a user category or any policy in your dashboard, The Finswich default wallet policy and category will be imposed all your users.
c. Once the request is honored, we will place a debit to your wallet, it’s important that you debit your own users on their wallet on your application before you respond Finswich with a Success Status.
d. We advised that you create your user categories and policy before integration and according to the AML policy of your organization
An incoming transaction is a kind of transaction where users on your platform receives money between into wallet from other wallets, banks or other countries. This is what we refer to as an incoming transactions.
BEFORE INTEGRATION - DO THIS
Before you begin any integration you need to have created an incoming URL endpoint where all request between Finswich & your application will take place for interactions and notifications of incoming transactions. See Below for Image reference
Setting up the incoming webhook URL
1. Credit Transactions - Once you set up your incoming URL on the Finswich Dashboard, Once there is a credit to your Finswich wallet, the notifications will be posted to your URL.
2. Credit User - Once you receive this notification, you can use the data to update your user’s wallet balance on your application.
a. You are required to note the specific response format for the response.