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Overview

Grand Central payment connectors enable financial institutions to integrate with various third-party payment processors, offering a standardized interface for initiating and managing payments. Banks and financial institutions can use payment connectors to deliver consistent payment experiences across digital channels and integrate payment capabilities into internal applications. Payment connectors provide a comprehensive suite of features for payment processing across multiple providers and networks, supporting both domestic and international payment schemes.

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Available Payment Connectors

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Alacriti

Real-time payment processing and settlement for US payment schemes including:
  • Fedwire
  • FedNow instant credit transfers
  • RTP instant credit transfers
  • ACH payments (with multiple SEC codes: PPD, CCD, CCD Child support, CCD Tax payment, CTX)

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Oracle FLEXCUBE OBPM

Payment processing for UK payment schemes including:
  • Faster Payments
  • Internal transfers (Book Transfers)
  • CHAPS payments
  • International payments

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Key Features

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Initiate Payments

  • One-time payments: Single transfer execution
  • Recurring payments: Automated scheduled payments
  • Account-to-Account (A2A) transfers: Direct account transfers
  • Batch payments: Multiple payment instructions in one action
  • Business-to-Business (B2B) transfers: Corporate payment processing
  • Consumer payments: C2B and B2C payment support
  • Payroll and reimbursements: Employee payment processing

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Payment Management

  • Real-time status updates: Synchronous APIs and asynchronous webhook notifications
  • Payment cancellation: Cancel scheduled payments before processing
  • Payment modification: Update payment instructions for pending payments (Fedwire)
  • Date validation: Validate execution dates against bank holiday calendars (UK)
  • Recipient validation: Validate account details with prenote transactions (ACH)

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Enhanced Capabilities

  • Bank detail retrieval: Display detailed bank information (bank name, address) in ISO20022 format
  • Fee estimation: Real-time fee estimates for cross-border and expedited payments
  • Direct debit management: Create, retrieve, and cancel direct debit mandates
  • Batch processing: Handle multiple payment entries with individual status tracking

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Payment Schemes Supported

United States:
  • Fedwire (one-time, recurring, cancellation, modification)
  • FedNow instant credit transfers
  • RTP instant credit transfers
  • ACH batch payments (Standard, Same Day, International)
  • Wire transfers
United Kingdom:
  • Faster Payments (FPS)
  • Book Transfers (Internal payments)
  • CHAPS payments
  • International payments

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Integration Benefits

  • Unified API: Consistent interface across all payment connectors using Grand Central Unified API Specification
  • Real-time processing: Immediate payment initiation and status updates
  • Comprehensive error handling: Detailed error codes and responses for troubleshooting
  • Audit logging: Complete transaction history and status tracking
  • Event-driven architecture: Asynchronous updates via SyncHub for payment status changes
  • Compliance ready: Support for regulatory requirements and standards
  • Scalable solution: Handle high-volume payment processing with minimal effort
  • BIAN compliance: Standardized business interactions based on BIAN framework