Collections

Overview

Decentro's collections stack works closely with its Virtual Accounts stack and helps you power numerous use-cases using the below modes.

Decentro provides the capability to collect funds through multiple modes on UPI and Virtual Accounts for individuals and entities to load funds.

Usecases

Decentro's payment link can be used to cater to multiple use-cases.

Repayments: collect one-time repayments or downpayments from borrowers on your app which can be settled to the lender's account directly.
Investments: collect one-time from your customers which can be settled to a clearing house or AMC for investment use-cases like Mutual funds, etc.
Deposits: collect one-time from your customers which can be settled to a bank partner for topping up fixed deposits or even recurring deposits.
E-commerce: collect from your customers for shopping online on your app and settle to your account or the seller as well if required.
Offline spends: collect from your customers offline at the point of sale through dynamic or static QR like in-store transactions, fuel spends, cash on delivery, etc.

Collection Flows

Decentro supports multiple types of collection flows using UPI.

Payment Link: This is a flow where the customer or the platform generates a fixed or variable amount UPI link that can be paid through any of the PSP apps on the customer's mobile through a generic UPI payment link or UPI deep links for PSP apps.
Dynamic QR Code: This is a flow where the platform can create a dynamic UPI collection QR code, and the payer can pay from any UPI app they choose. This flow is recommended for flows on laptop/desktop or for offline flows like merchant transactions, etc
Static QR Code: This is a flow where the platform can create a UPI collection QR code, and the payer can pay from any UPI app they choose. This flow is recommended for flows on laptop/desktop or for offline flows like merchant transactions, etc
Collect Request: This is a flow where the platform can collect funds from a payer through a specific UPI ID of their choice. This flow is recommended for flows on a laptop/desktop or where the payer isn't necessarily on a mobile app.
Virtual Accounts: This is a flow where the platform can collect funds from a payer through multiple modes into a virtual account. This flow is recommended for flows where the platform wants to support multiple collection modes and don't have visibility if the payer will use UPI, IMPS or other modes like NEFT or RTGS.

Some points to note from an experience perspective.

If you are looking to provide complete flexibility to customers in terms of payment experience without taking the customer outside the app, a payment link is recommended.
If you are asking the customer for a specific UPI handle (VPA) from which payment is to be done, then a collection request is recommended.
If you are comfortable with the customer going outside your platform to approve the request and you want to track transactions against a specific customer, a virtual account based collection is recommended.

Pre-requisites

Create a virtual account for a customer/partner/vendor with Decentro.
Configure a Master virtual account for yourself. Please drop a mail to us at [email protected] for us to configure this for you.
Configure callbacks for balance. Please drop a mail to us at [email protected] with the callback endpoints.
Configure callbacks for transaction. Please drop a mail to us at [email protected] with the callback endpoints.
Fetch the balance of the virtual account for reconciliation before doing a payout or after collecting funds
Fetch the statement to reconcile the transactions done against the virtual account

Collections Flow

Decentro recommends creating a virtual account for a customer. Below is the process flow for collections (UPI or loading into Virtual accounts using IMPS/NEFT/RTGS).

Validate a UPI handle to check if the customer's VPA is valid if you are looking to do a collect request.
Initiate a UPI collection request against a specific virtual account to collect funds into the virtual account.
Initiate a UPI payment link against a specific virtual account to collect funds into the virtual account using UPI deep links or thorugh QR or a shortended link.
Decentro triggers account balance) callback against the Virtual account into which the funds are credited against a pre-configured enpoint if subscribed to by the platform.
Decentro triggers transaction callback against the Virtual account into which the funds are credited against a pre-configured enpoint if subscribed to by the platform.
Check the status of the collection by hitting the payment status API as an alternative to callbacks. Its recommended that

Below is a graphical representation of Decentro's UPI collections flow.

Integration

Decentro provides testing data that can be used on the staging (sandbox) environment by the platform to handle all scenarios before going live. The same is documented across all of the collection capabilities here.

Decentro uses response keys which are used to propagate various scenarios across API or transactional scenarios. This can be used by the platform to handle experience and flows accordingly. The response keys for all the collection capabilities of Decentro can be found here.

If you have any queries pertaining to the collections module, please check out our FAQs.