Future-dated Payments

Future dating is the scheduling of a banking transaction to occur at a later date. An authorized future-dated payment (FDP) is an agreement stipulating that funds will not be transferred and made available to the recipient until a specified point in the future.

Individual consumers and companies use future dating to control cash flow by scheduling payments to occur when sufficient funds are present in the paying account. Future dating a payment involves giving the user's bank instructions to send the payment on a specific date in the future, either the next day or beyond. In most cases, one-time future-dated and future recurring transfers scheduled for a weekend or a non-business day are processed on the next business day. All other future-dated transfers are processed at the end of the business day requested. The cut-off time and delivery date of external transfers are subject to each bank's account terms and conditions for the type of account specified.

Important reminder: Don't forget that, before initiating a request to a Token-connected bank, you'll first need to get the list of banks in the desired country that support the features you need to access. A GET /banks call filters the list of Token-connected banks based on your selection criteria with respect to bank location and bank-supported features. See Bank Selection using GET /banks for more on filtering and selecting Token-connected banks.

Bank-initiated FDP (1-step)

Putting the full sequence into perspective, the diagram pictured next (hover to enlarge) shows the communication flow for a bank-initiated future-dated payment.

TPP-initiated FDP (2-step)

The sequence diagram pictured next shows the communication flow for a TPP-initiated future-dated payment.

Heads-up: For payment requests subject to mandatoryFields, see the discussion on mapping mandatory fields in bank selection for the correct field mapping, paying special attention to the differences in authenticating credentials in the respective request flows; i.e., using the Token webapp versus not using the Token webapp.

If the mandatory user credentials you provide are invalid, the status returned will be unauthenticated, and you will need to repeat the redirect to the bank for consent to have your user try again. Conversely, when the status returned is authenticated, it means the bank has accepted the consent and no redirect is required.

Guidance for making the appropriate POST and GET calls, as well as handling Token's responses to these requests is covered next.

Base URLs

See Base URLs.

Headers

See Common Request Headers.

Making the Token Request

To initiate a payment request with the bank, you'll need to be able to identify yourself as the calling TPP using your Member ID and your Alias, defined as follows:

  • Member ID – unique value generated by the Developer Dashboard when you signed up.
  • Alias – unique email or domain you proveided when you signed up.

A transfer request must include both parameters.

You can obtain the values from the dashboard by following these steps:

  1. If the dashboard isn't already open in a browser tab, sign in.
  2. Click Member Information in the navigation panel on the left.
  3. Click the "eye" icon to the right of each value to reveal it.
  4. Copy the value you need.

Once the PSUClosedPayment Services User – an individual person or legal business entity making use of an Open Banking service as a payee, payer or both. gives consent for you to initiate PIS on the PSU's behalf, here's the call for POSTing /token-requests with a requestPayload:

{

    "requestPayload": {

        "refId": "xyz",

        "to": {

            "id": "m:nP4w3u5y8ddrxDJkjimgSX9e4fZ:5zKtXEAq"// required TPP member ID; mandatory

                "realmId": "value available from dashboard",

            }

        },

        },

        "callbackState": "%257B%2522", // added to callack URL with hash of CSRF token specified by Token

        "transferBody": {

            "currency": "EUR",

            "lifetimeAmount": "10",

            "transferInstructions": {

                "transferDestinations": {

                     "fasterPayments": {

                         "accountNumber": "70000005",

                         "sortCode": "700001"

                     }

                }

               "executionDate": "2021-10-14T07:22Z"

            }

        },

        "description": "test",

        "redirectUrl": "https://sample-merchant-domain.com/transfer"

    }

}

The most important request fields and their corresponding descriptions are listed in the following table.

Key Fields in the Transfer Token Request for SIP
Field Description/Subfields Required/Optional
refId  TPP-generated reference identifier for the token; not to be confused with requestId. RefId is typically used by the TPP to reconcile transactions against payments received. RefId maps to tppRefId in the bank's consentRequest. It is needed to match/verify the originating token request with the bank's consent request.

Warning: If the description in subsequent token lookups/changes/updates (retrieve, redeem, or cancel) doesn't match the description in the originating token request, an exception will be thrown.

Required
to Identifies the member initiating the request Required
id Member ID of the TPP, a constant value in all requests; see Member Information in Understanding Dashboard Settings. Required
alias A human-readable proxy for your member identifier that contains your realmId or alias type (DOMAIN, EMAIL, other) and a value string.

A realmId identifies a member created under the realm of a specific bank.

See Member Information in Understanding Dashboard Settings to find your member id and alias.

Optional; soon to be deprecated
transferBody Specifies the critical details of the transfer: currency, lifetimeAmount, and transferDestinations(beneficiary account information). Required
currency Currency for the transaction Required
lifetimeAmount Amount of the payment/transfer valued in currency.

Precision: Recommended precision is rounding to 4 decimal places (HALF-EVENClosedRound-half-even algorithm, often referred to as Banker's Rounding because it is commonly used in financial calculations. Half-way values are rounded toward the nearest even number. Thus, 3.5 will round up to 4 and 4.5 will round down to 4.), although the TPP can set it's own desired precision. However, be aware that certain banks may handle rounding differently — some with greater precision (i.e., more decimal places), others with reduced rounding precision (fewer decimal places). The Token Platform strictly serves as the pipeline between the TPP and the bank, imposing no precision restrictions.

Required
instructions Specifies beneficiary account information and any additional transfer instructions. Required
transferDestinations These are the beneficiary account details that determine if the request is for a domestic, SEPAClosedSingle Euro Payments Area – a payments system created by the European Union (EU) which harmonizes the way cashless payments transact between euro countries. European consumers, businesses, and government agents who make payments by direct debit, instant credit transfer, and through credit transfers use the SEPA architecture. The single euro payment area is approved and regulated by the European Commission. SEPA currently includes 36 members. It encompasses the 28 EU member states along with Iceland, Norway, Liechtenstein, Switzerland, Andorra, Vatican City, Monaco and San Marino. The single euro payment area remains an ongoing, collaborative process between these parties. SEPA is in the process of harmonizing rules regarding mobile and online payments., or cross-border payment. Generally, the beneficiary is the TPP. See Whitelisting Beneficiary Accounts for guidance on adding, modifying, and deleting accounts.

Each whitelisted destination/beneficiary account is specified according to the payment system used. See Initiating Payments for the list of supported payment systems and the respective account information fields required.

Required by some banks, optional for others, the type of destination account (business or personal) is specified under transferDestinations in customerData.type as UNKNOWN, BUSINESS or PERSONAL. When not specified, the default destination account type is BUSINESS.

A creditor name (customerData.legalNames) for the destination account is a required subfield parameter: transferInstructions.transferDestinations.customerData.legalNames

source Identifies the bank account from which the amount is being debited; set using the AccountIdentifier object, See Source Account Validation for important rules about populating the source object.
executionDate Date in the future on which transaction will be made.
 
callbackState Developer-specified string allowing state to be persisted between the request and callback phases of the flow; used for the signature in a GET /token-requests/{tokenRequestId}/token-request-result call, in which the signing payload for the signature is a combination of state and tokenId and validates the tokenId against the callbackstate originally sent by the TPP in the request.

Note: The value of callbackState is added to the redirect URL and appended to the hash of the CSRF token specified by Token; e.g.:

https://{callback-url}?signature=%7B%22memberId%22%3A%22m%3A3rKtsoKaE1QUti3KCWPrcSQYvJj9%
3A5zKtXEAq%22%2C%22keyId%22%3A%22lgf2Mn0G4kkcXd5m%22%2C%22signature%22%3A%22Md-2D
G0X9PpuOxea0iK33cAZ2Ffk6E5I1mAcJS6YywU80Q0yYBOlwvGy37dmovmH_OC7Jl8c-fxQ5gP2RWTaDw%22%7D&
state=%257B%2522csrfTokenHash%2522%253A%2522pod1e6xornyoesn2sp%2522%257D&
tokenId=ta%3AHWowFawmAwiuPKNdM7xjpiQktPppgK2JatsWPZAyTHcq%3A5zKtXEAq

Optional
description Description of the payment with the following qualifiers:
  • must comply with the constraint imposed by the bank (see Bank-dependent Field Formatting)
  • length must be no greater than 255 characters
  • description in a subsequent call must match description in originating request
  • description omitted in originating request must also be omitted in subsequent calls
  • description omitted in subsequent call will be replaced with refId

This description field maps to description in the bank's consentRequest presented to the user.

Warning: If description in a subsequent token request for lookups/changes/updates (retrieve, redeem, or cancel) doesn't match the description in the originating token request, an exception will be thrown.

Optional, with the caveats described in the previous column
redirectUrl Defines the bank's callback URL where your server initiates token redemption. Required
remittanceReference Augmenting refId and description, this is TPP-defined additional information pertinent to TPP's payments policies; for instance, could contain a full or partial credit card number when payment is being initiated for a credit card payment. Securely hashed to safeguard its transmission throughout the communication flow, this field should be considered by TPPs wishing to augment their transaction reference data for tracking and audit control. Optional
requestOptions
  • Bank ID where payment is to be initiated
  • Receipt Requested – to specify that an email
      receipt is to be sent to the PSU by Token
Optional
source Account number from which the amount is being debited; set using the AccountIdentifier object, which allows four types of account identifiers:

Although setting source with the BankAccount object has been deprecated, it is still supported

  • Required for one-step payment
  • Optional for two-step payment
traceID TPP-provided unique value captured by Token and sent across to the bank to be stored with the request throughout its lifecycle as an audit-trail aid. Optional
*Inclusion of some elements may be optional or bank-dependent

 

Heads up: Cited in the table within transferInstructions and nested in source is the accountIdentifier object (required):

"source": {

    "accountIdentifier": {

        "gb_domestic": {

            "account_number": "70000005",

            "sort_code": "700001"

         }

    }

}

Remember, whatever you specify as the source and transferDestinations in the request will be reflected in the response.

Payee Information

Submission and return of payee information is not supported by all banks. When supported, and based on the standard adopted by the bank, creditor account (payee) information (legal name and/or address) is included in customerData within providerTransactionDetails for single transactions. When included in the request, payee/creditor account information is available in the response, regardless of the API standard adopted by the bank; typically, however, the following guidelines apply:

If you are initiating a payment to Barclays Bank UK, the creditor name can be no more than 18 characters. If this limit is exceeded, the bank will reject the payment.

Otherwise, when providing creditor name and address for CMA9 international payments, bear in mind that certain banks, such as HSBC, require creditor information to process international payments, despite its designation as "optional" in the OBIE specification. To be safe with respect to CMA9 international payments, provide this information in the customerData fields of the transferDestination object. The OBIEClosedOpen Banking Implementation Entity – organization created by the CMA (Competition and Markets Authority) to deiver APIs, data structures and security architectures that enable developers to harness technology, making it easy and safe for account holder's to share their financial information held by the banks with third parties. information maps to its Token counterpart as follows:

Token OBIE
flats SubDepartment
house_name Department
house_number BuildingNumber
street StreetName
post_code PostCode
city TownName
district CountrySubDivision
country Country

These creditor post address fields can be found in Token's protobuffer technical reference.

 

Making a Gateway Request "on behalf of" – Using the actingAs Property

Resellers and TPPs contractually granted permission by Token can create a token on behalf of another party by configuring the actingAs object in the requestPayload. Here's an example:

actingAs: {

    "displayName": "Rudolfo's Pizzeria",

    "logoUrl": "https://cdn-somewhere-on-the-web.com",

    "refId": "Merchant-No. TX14JG6890", // unique reference for internal tracking and reporting; e.g., a merchant-id

    "secondaryName": "rudys-restaurants.it" }

Each identifier is defined in the following table:

Properties of the actingAs Field
Field Description Required/ Optional
displayName Name of recipient shown to user Required*
logoUrl URL pointing to recipient's logo Optional
secondaryName Domain or email address of recipient shown to user along with displayName Optional
refId TPP's discretionary reference identification of the recipient, opaque to Token; can be used by a "gateway" business member to (uniquely) define a merchant that is acting through it.The uniqueness of refId should be handled by the gateway member; typically a reseller requiring separate reports for each participating merchant it is representing. Optional
* Required when specifying ActingAs, although ActingAs is otherwise optional.

A "gateway" is a business member empowered to act on behalf of a merchant that is not registered as a member in the Token system. The gateway member must have ACT_ON_BEHALF_OF permission from Token and populate the actingAs field in the token request accordingly to indicate the merchant on whose behalf it is acting.

Processing the Response

Here's an example of the response you'll receive:

"tokenRequest": {

    "id": "rq:3g5RVV7Z4oU9P5rtzX2YhnssuPC5:5zKtXEAq", // request-id; add to BASE_URL for consent

    "requestPayload": {

        "to": {

            "alias": {

                "type": "EMAIL",

                "value": noverify@token.io"

            }

            "id": "m:nP4w3u5y8ddrxDJkjimgSX9e4fZ:5zKtXEAq"// TPP member ID

        },

         "transferBody": {

            "currency": "EUR",

            "lifetimeAmount": "10",

            "transferInstructions": {

                "transferDestinations": {

                     "fasterPayments": {

                         "accountNumber": "70000005",

                         "sortCode": "700001"

                     }

                }

                "executionDate": "2021-10-14T07:22Z"

            }

        },

        "description": "test",

        "redirectUrl": "https://sample-merchant-domain.com"/transfer

    }

}

Create the redirect URL by appending the request id in the response (shown above in red) to the redirect base URL, then send it to the user to provide explicit consent to bank.

https://{{BASE_URL}}/app/request-token/{{Insert request-id here}}

// example = https://web-app.sandbox.token.io/app/request-token/rq:3RKfCA7KQEEZERLoFsAt3MoAnoP5:5zKtXEAq

Tip: You can specify a particular language by passing its language code (lang=country-code) as a query parameter, appended to the URL above, which the user can override in the webapp according to personal preference. Here's an example for passing the desired ISO 639-1ClosedCodes for the representation of names of languages—Part 1: Alpha-2 code, is the first part of the ISO 639 series of international standards for language codes. Part 1 covers the registration of two-letter codes. There are 184 two-letter codes registered as of December 2018. The registered codes cover the world's major languages. See https://www.iso.org/iso-639-language-codes.html language code for German (de):

https://web-app.token.io/app/request-token/rq:o9adbFqJXcaDGNDaykPvpSZFZDW:5zKtXEAq?lang=de

TPPs using Token's licence only: This webapp URLClosedUniform Resource Locator (aka web address) – specifies a location on a computer network and a mechanism for retrieving it. redirects the PSU to the Token Web App, which displays a payment confirmation page (pictured, hover to enlarge):

Note: If you did not capture the source account number from the PSU in your UI after user bank selection (see Filtering Banks), the user is presented with an input field (shown in the payment confirmation page above) in which to enter the source account number (IBANClosedInternational Bank Account Number – a number attached to all bank accounts in the EU countries, plus Norway, Switzerland, Liechtenstein and Hungary. The IBAN is made up of a code identifying the country to which the account belongs, the account holder's bank, and the account number itself.).

Upon user consent, Token will redirect the user back to the TPP with either a tokenId or a transferId as a query parameter, depending on the bank's support for two- or one-step payments, respectively.

"redirectUrl": "https://sample-merchant-domain.com"/pis?tokenId=sample_token_id

"redirectUrl": "https://sample-merchant-domain.com"/pis?transferId=sample_transfer_id

Using the tokenId sent by the bank (also known as the consent-id on the bank side), which confirms PSU consent, you can now initiate payment.

For bank-initiated (1-step) payments, the callback will contain a transferId and a transferStatus (see Payment Status: Value and Meaning for the list of possible status codes), which you can then display to the customer/user. Use the transferId, as necessary, to check for status updates with a GET /transfers/{transferId} call, presuming you didn't subscribe to a webhook in the original token request.

For TPP-initiated (2-step) payments, you'll You'll need to redeem the transfer token with a POST /transfers request containing the Token-provided tokenId. Here's an example:

{

 "payload": {

     "refId": "{{your reference identifier}}", // optional

     "tokenId": "{{TOKEN_ID}}", // tokenId in redirectUrl

     "amount": {

         "value": "10",

         "currency": "EUR"

     }

 }

}

The most important request fields and their corresponding descriptions are listed in the following table.

Field Description/Subfields Required/Optional
payload refId  TPP-generated reference identifier for the token; not to be confused with requestId. RefId is typically used by the TPP to reconcile transactions against payments received. RefId maps to tppRefId in the bank's consentRequest. It is needed to match/verify the originating token request with the bank's consent request.

Warning: If the description in subsequent token lookups/changes/updates (retrieve, redeem, or cancel) doesn't match the description in the originating token request, an exception will be thrown.

Required
tokenId Bank-generated identifier returned in the response to the original payment request Required
amount value Amount of the payment/transfer valued in currency.

Precision: Recommended precision is rounding to 4 decimal places (HALF-EVENClosedRound-half-even algorithm, often referred to as Banker's Rounding because it is commonly used in financial calculations. Half-way values are rounded toward the nearest even number. Thus, 3.5 will round up to 4 and 4.5 will round down to 4.), although the TPP can set it's own desired precision. However, be aware that certain banks may handle rounding differently — some with greater precision (i.e., more decimal places), others with reduced rounding precision (fewer decimal places). The Token Platform strictly serves as the pipeline between the TPP and the bank, imposing no precision restrictions.

Required
currency ISO 4217 currency code for the transaction Required
payloadSignature memberId Member ID of the TPP, a constant value in all requests; see Member Information in Understanding Dashboard Settings. Required*
keyId Your certificate's public key identifier Required*
signature Cryptographic signature guaranteeing the authenticity of the payload. Required*
* Not required if you are using an API key

You'll receive the transferStatus in a callback, which you can then display to the customer/user. See Payment Status: Value an Meaning for the list of possible status codes.

With the exception of GET /banks, all POST and GET calls must pass in an appropriate authorisation header containing your authentication key (see Common Request Headers).

To get information about a specific token, use a GET /tokens/{tokenId} call. To subsequently retrieve information about a specific payment, use a GET /transfers/{transferId} call.

Please refer to the API's Swagger Object and Field Definitions and Swagger Specification for additional details on all of the above.