Schedule a Payment

The purpose of this feature is to create a scheduler that will take a scheduled payment and create an EFT payment to process.

When a customer initiates a payment, our system will ask them to provide a payment initiation date from which onwards payment processing will be scheduled for every given time or a single time.

For example, if a user wants to make a payment every month starting on December 15, then their transaction will be initiated on the 15th of December and the same payment date wil carry onwards to every subsequent month.

This means the scheduler will initiate a transaction every 15th of the month from the initiation date.

If the scheduled transaction is scheduled for the last day of the month with a monthly frequency (ex. February 28th), the system will automatically set the next payment to March 31st and so on.

Frequencies

There are two frequencies available in scheduled payments:

Single: Only one transaction will be executed.

Recurring: Multiple transactions will be executed over time depending on the type of frequency which are listed below.

Scheduled Transactions

Scheduled transactions have three different states:

In progress: This is the initial status of the scheduled payment and indicates that the scheduled transaction is running and waiting for the scheduled date to run.

Completed: This status indicates that the transaction is completed. This status does not reflect the status of the transactions that were executed inside this schedule.

Cancelled: This status indicates that the transaction is cancelled. This status is only requested by the user, the system will never mark any transaction in this state.

Payment Status

In addition to the main status for each scheduled transaction, we also have statuses for each payment. This addition is meant to have an organized structure and be more descriptive. Available payment statuses are listed below:

Upcoming: Payment waiting to be executed on the given date.

Completed: Payment successfully executed (Regardless of the transaction status).

Cancelled: Payment cancelled by the user.

To create a scheduled transaction please visit the following endpoints: eft/fund/schedule or eft/withdraw/schedule. Or visit our API Documentation.