Partners can access three different actions when it comes to payments: Collect, Send, & Receive. The action you require will depend on the context around which the payment is being made.
Collect will enable a partner to pull funds from a users account with a financial institution they have connected. This covers debit scenarios such as subscriptions, donations, roundups, and micro-investments.
Send will enable a partner to disburse funds directly to a users account with a financial institution they have connected. It is useful for partners who want to cash out their users for things such as investment payouts and cash backs.
Receive will enable a partner to accept funds that have been pushed from a users account with a financial institution to their Basiq partner application. This achieves the same goal as
Collect, however it is initiated by the payer (user) instead of the payee (partner application). For example an in-app one off purchase.
Updated about 2 months ago