This endpoint is to initiate a payment to collect funds from the debtor's account or to retry if the previous payment collection request was rejected due to valid business reasons.
This API should be invoked strictly as per the terms and conditions established in the agreement to avoid payment claims. Even the retries should be attempted as per the agreement terms and conditions.
Payment initiation request statuses -
- PENDING_PAYMENT_INITIATION - when the payment initiation request has been accepted for processing
- PAYMENT_INITIATED - when the payment initiation request is being processed
- PAYMENT_INITIATION_COMPLETED - when the payment initiation request is cleared and settled successfully. Funds can be expected in the user's wallet soon
- PAYMENT_INITIATION_REJECTED - when the payment initiation request is rejected for processing due to validation, funds not available in the debtor's account or any other
business reason. A retry can be performed in such scenarios
If the payment collection request has been rejected due to valid business reasons (example - insufficient funds), a retry can be attempted for the same.
Payment_request_uuid generated will be the same for the payment collection request and all subsequent retry attempts, however, instruction_id differs for each.
Note - If Payment initiated on the agreement validity end date fails, it will not be possible to retry or initiate again on the following date as the agreement will be marked as CANCELLED automatically after the agreement validity_end_date. Hence, it is recommended to initiate the last payment few days before the agreement validity end date to cater for retries needed if any.