Beneficiary Addition [Axis Bank]

The Beneficiary Addition API allows ERP systems to add beneficiaries for fund transfers. Note that adding a beneficiary is mandatory for AXIS Bank accounts, while it is Not Required for other banks.

Workflow:

1. Initiate Beneficiary Addition:

   • ERP calls the Add New Beneficiary API with the merchant’s username (email ID or mobile number) and the beneficiary’s bank account/vendor details.
   • Open validates the username and returns a redirect URL with a one-time session token.

2. User Authentication:

   • ERP redirects the user to the provided URL.
   • The user completes the 2FA OTP verification sent by the bank to add the beneficiary.

3. Activation Period (for AXIS Bank only):

   • AXIS Bank beneficiaries have a 30-minute cooling period before they can receive fund transfers.

4. Completion & Status:

   • After the process, the user is redirected back to the ERP’s redirect URL.
   • ERP can check the status of a single beneficiary using the Bene Status API with the bene_ref_id provided during the addition request.
   • Multiple beneficiaries’ statuses can be retrieved in a single API call by passing multiple bene_ref_ids in the request body.

5. Webhook Notification:

   • Open triggers a webhook to the ERP’s configured endpoint with the event type beneficiary_addition and the beneficiary status once the addition is successful.

Beneficiary Addition Flow

• OTP Validation

• Beneficiary Addition Confirmation