Payments

Overview

Payments are at the heart of the Modulr platform.

The following pages provide detail on the following payment concepts:

Concept	Outline
Outbound Payment	Funds sent out of a Modulr account to another account held at Modulr or elsewhere.
Inbound Payments	Funds received into a Modulr account from another account held at Modulr or elsewhere.
Payment Types	The various ways in which payment are categorised.
Payment Statuses	The various states a payment can be in whilst being processed.
Payment Approvals	Approving payments before they are processed.
Future Dated Payments	Delaying the sending of outbound payments to some date in the future.
Waiting for Funds	Waiting for the source account to have sufficient funds before a payment is processed.
Payment Rules	Transferring funds to alterative accounts upon receipt of inbound payments.

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Payments in the Sandbox Environment
The sandbox environment is for testing purposes and is therefor isolated from the live environment. When making outbound payments or receiving inbound payments, no real money is involved.