Fund Transfer

The Fund Transfer API enables ERP platforms to initiate single or bulk payouts to vendor bank accounts via Open.

Workflow:

1. Initiate Transfer: ERP calls the Fund Transfer (Single / Bulk) API with the merchant’s username (email ID/mobile number), vendor bank account details, and name.

2. Transfer Mode:

   • Single payout: Supported for all linked bank accounts.
   • Bulk payout: Supported only for linked ICICI, Yes Bank, and AXIS accounts.

3. Session Validation: Open validates the merchant username and returns a redirect URL with a one-time session token. ERP must redirect the user to this URL.

4. User Interaction:

   • User will get re-directed to a 2FA OTP verification screen to approve the vendor payout.

5. Completion: Upon successful fund transfer, the user is redirected back to the ERP-provided URL.

6. Status Tracking: ERP can check transfer status using the Get Fund Transfer Status API by providing batch_id or open_txn_id (and optionally account_ref_id). open_txn_id is also returned in the Fund Transfer API response and webhooks.

7. Webhook Notification: Open triggers a webhook to the ERP’s configured URL with the event fund_transfer and the corresponding transfer status.

8. Bank-Specific Statuses: Each bank may return different statuses for fund transfers; refer to Open documentation for detailed bank-wise statuses.

Fund Transfer Flow

• Fund Transfer Initiation

• OTP Confirmation

• Transfer Confirmation