Payments Overview

Avenu currently offers payment capabilities in the form of ACH transfers. Version 1 of Avenu's API supports debit card funding of a customer's account and ACH origination. Debit funding is available to instantiate an account balance. There are also endpoints available to retrieve payment statuses and details, create a dispute, and administer customer payment adjustments.

Payments	Endpoints
Fund account via debit card	customer/v1/fund
Fund account via tokenized debit card	customer/v1/token/fund
Send payments, see payment details	customer/v1/payment
See payment status	customer/v1/payment/status
See recent payments	customer/v1/payments

Statuses

These are codes returned when requesting status updates or posting a payment.

Code	Description
PENDING	A pending settlement
FAILED	The payment failed
SETTLED	The payment has been settled
DECLINED	The payment has been declined
CANCELED	The payment has been canceled
AUTHORIZED	The debit card funding has been authorized
CAPTURED	The debit card funding has been captured. Funds are available for customer use.

Payment Types

The currently available payment types in Avenu's v1 API

Type	Description
AVENU	Payment between Avenu customers
ACH	Payment to/from an ACH account
RETURN	ACH payments that have been returned by the receiver
DEBIT_CARD_FUND	A debit card funding
TRANSFER_REFUND	A return from the client's account to a customer's account

ACH and Debit Settlement Timing

ACH funds are batch-settled according to NACHA timing at the end of each business day. The Avenu cut off time for payments is 5pm est - any new payments created after this point will be settled the following day. Avenu runs transmission jobs twice daily - once in the evening and once again in the morning to capture any transactions that missed the evening cutoff time, in order to increase the likeliehood that ACH transactions will settle within 24 hours. Payments created after 5pm est on Friday, over the weekend, or during a bank holiday will be added to the next banking business days' batch and settled the following business day.

Avenu runs a chronjob every 15 minutes on normal banking days to check for debit funding requests in CAPTURED state. Transactions in CAPTURED state will be marked as SETTLED, allowing the customer to use those funds at that time. The funding transaction will be settled on the bank side on the next business day. Transactions made over the weekend or on bank holidays will be settled on the next business day. E.g., a debit fund transaction created on Saturday will stay in PENDING status until the chronjob runs on the next business day at midnight. If that transaction moves to a CAPTURED state at that time, the funds will be made immediately available to the customer and will settled in the clients' bank account the next business day.