What are the methods available for receiving payments through Finmo?

Finmo supports various Payin types, representing the different ways a Payin can be created:

Direct Payin

A Direct Payin is initiated using Finmo’s Create Payin API by setting the payin_type parameter to direct_payin. In this method:

All necessary customer and transaction details needs to be provided at the time of the request

Upon successful creation, Finmo returns a unique pay_code that can be presented to the customer to complete the payment.

This method is suitable for backend-driven flows where the you already have the customer information.

Virtual Account Payin utilizes virtual accounts assigned to individual customers for payment collection. Key aspects of this method include:

A virtual account, which includes a unique customer identifier, is created at either at the organization or customer level.

The virtual account details are shared with the customer to facilitate the payment.

The customer transfers funds to the assigned virtual account.

Finmo receives the funds in the respective wallet linked to the virtual account and notifies the you of the transaction status.

Checkout Payin is designed to provide a customer-facing interface for completing payments. The flow is as follows:

A checkout link can be created from the dashboard using the Create Checkout option.

Once created, a checkout link is generated and which can be shared with the customer to complete the payment.

The customer can complete the transaction using the available payment methods.

Once Finmo receives the funds in the designated wallet, we can send transaction notifications status via a webhook or email.

Top-Up Payin involves pre-funding a master wallet through a virtual account. The process includes:

Virtual Accounts must be created under the Master Wallet.

Only then can the end customer transfer funds into the corresponding Virtual Account.

Once Finmo receives the funds, an automated notification regarding the transaction status will be sent.