UK Payments (Faster Payments, BACS and CHAPS)

Overview

Payments are at the heart of the Modulr platform and therefore using this functionality is probably high on your list of what you want to do with the platform. Before getting into the payment use case itself, lets take a look at payments in the Modulr context, to make sure you are familiar with the concepts behind our payment technology.

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Our sandbox is an emulation of our live service

It is important to note that while in the Sandbox environment you are testing out an emulation of our live platform and no real payments or money is involved.

The next section deals with requesting payments out via the api or a 'PAYOUT', which are always sent via Faster Payments. You can also request transfers between your accounts using this method, which doesn't use an external payment scheme. You may also see reference in areas of the documentation to a PAYIN which is a payment-in received on a Modulr account and can be received by Faster Payments, BACS Credits or CHAPS.

Later sections deal with other payment methods and currencies, including Direct Debit Collections, SEPA Euro Credit Transfers and Virtual Card Payments.


What’s Next

First stop: Sending a payment outbound