A payout is a payment from a TrueLayer merchant account to a customer, using the Payments API v3. There are two types of payout:
- A payment from a merchant account to the same payment details previously used to make a payment to the merchant account. This is also known as a closed-loop payout.
- A payment from a merchant account to an external account or business account, with no need for the account to have previously made a payment to the merchant account. This is also known as an open-loop payout.
A refund is a payment or payments made back to a user account that previously paid into your merchant account. The refund payment/s cannot exceed the total of the initial payment the user made.
Use the Payments API v3 for payouts and refunds
For more about our legacy Payouts API, see our legacy docs.
When you make a payout or refund with the
/v3/refunds endpoint, it generates an
id. You can use the ID to check the status of your payout or refund. Unlike a single payment or mandate, this ID is not required to authenticate the payment.
In order to create a closed-loop payout, open-loop payout, or refund, you need to provide the details below:
Set up refunds in Console
You can also make refunds directly from the payments view in Console, if you have the right permissions within your application to do so. This allows you to refund payments without needing to integrate with the Payments endpoint.
After you create a payout or refund you can check its status to find out if it was successful or identify why it failed.
We support payouts within the UK and EU. For more information about the providers we support by country, see our page on supported countries. Additionally, if they fail, payouts within the EU are retried by default.
Updated 17 days ago