Scheduled Payments

Further reading on how to create scheduled payments with Yapily.

Introduction

Scheduled payments are payments which the user can configure from an Institution to pay an entity at a future date. It is possible to create either domestic or international scheduled payments provided that the Institution supports either of the following features in the feature array:

  • CREATE_DOMESTIC_SCHEDULED_PAYMENT
  • CREATE_INTERNATIONAL_SCHEDULED_PAYMENT

Note: Open Banking only provides the means to send the payment initiation request to the Institution so it is not possible to modify or cancel a scheduled through Open Banking, nor is it mandatory for banks to provide confirmation of the whether the payment was successfully credited to the creditor's account.

Domestic Scheduled Payments

A scheduled payment can be created by specifying all the mandatory properties of a Single Payment along with the following properties in the PaymentRequest:

  • paymentDateTime (mandatory) - Specify the date of the future-dated payment

International Scheduled Payments

While rarely supported by every Institution, if the CREATE_INTERNATIONAL_SCHEDULED_PAYMENT feature is available, it is possible to make international scheduled payments.

In addition to the properties required for a Domestic Scheduled Payment, you must specify the additional properties required for an International Payment.