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Grand Central Payments 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 Payments to deliver consistent payment experiences across digital channels and integrate payment capabilities into internal applications. Payments provide a comprehensive suite of features for payment processing across multiple providers and networks, supporting both domestic and international payment schemes.

Core functionalities

Payment connectors support the following capabilities:

Payment initiation

Initiate and submit payments with consistent, unified APIs that streamline channel integrations.

Payment status update

Retrieve detailed, up-to-date statuses for transactions and batches throughout their processing journey.

Payment management

Control and manage payment batches, lifecycle actions, and operational workflows from one place

Ancillary payment features

Extend payment capabilities with fees, bank details, holiday calendars, and FX rate retrieval services.

Use case coverage

Payment initiation

The following table summarizes payment initiation features and capabilities.
FeatureKey capabilities
Single paymentEnables the submission of an individual payment request with all required customer, account, and remittance details. It ensures the payment is validated and routed to the appropriate processor for seamless execution.
Batch paymentEnables the submission of grouped payment instructions through a single file or API request, supporting all prominent batch-based schemes. The batch is validated, processed collectively, and routed to the payment processor while preserving transaction-level details and controls.

Payment status update

The following table summarizes payment status update features and capabilities.
FeatureKey capabilities
Single payment status updateProvides the current processing state of an individual payment, from initiation through completion or failure. This includes acknowledgements, validations, exceptions, and final settlement outcomes for standalone payments.
Batch status updateReturns the high-level status of an entire payment batch as it moves through validation, processing, and completion stages. It offers visibility into batch-level acknowledgements, acceptance, rejections, and overall processing outcomes.
Payment status update within a batchDelivers transaction-level status for a specific payment inside a submitted batch, enabling granular visibility into individual outcomes. This helps identify which payments succeeded, failed, or require remediation within the larger batch.

Payment management

The following table summarizes payment management features and capabilities.
FeatureKey capabilities
Edit payment detailsModify Payment allows updating permissible fields of a payment instruction before it is processed. This includes correcting account details, adjusting amounts, or updating remittance information while ensuring compliance with scheme-specific rules and validations
Pre-submission validationValidate Payment Before Submit performs a pre-processing check on the payment payload to ensure accuracy, completeness, and format compliance. It helps detect invalid account data, routing errors, or rule violations before the payment is officially initiated.
Payment cancellationCancel Individual Payment enables the withdrawal of a specific payment instruction prior to execution. This provides operational control for reversing erroneous requests or halting payments based on updated customer or business requirements.
Batch cancellationCancel Overall Batch allows terminating an entire batch of payments before processing begins. It ensures that none of the contained transactions are executed when a file is incorrect, duplicated, or no longer required.

Ancillary payment features

The following table summarizes ancillary payment features and capabilities.
FeatureKey capabilities
Bank holiday calendarProvides access to scheme-specific and country-specific bank holiday schedules that impact payment processing and settlement timelines. This helps determine cut-off times, expected delays, and accurate settlement dates for both single and batch payments.
Retrieve payment feesRetrieves applicable fees for a given payment or batch based on processor rules, payment type, amount, and service level. This enables upfront cost visibility for users and helps systems present accurate pricing before submission.
Retrieve bank detailsReturns institution-level details such as routing numbers, bank names, branch information, and eligibility for specific payment schemes. It helps validate payment instructions and ensures accurate routing before processing.
Exchange ratesProvides real-time or near-real-time foreign exchange rates for supported currency pairs. This enables accurate calculations for cross-border payments, conversions, and fee estimations involving multiple currencies.

🌐 Available payments connectors

Grand Central offers the following payment connectors for integration: