Use Case
Noxxo offers JSON REST APIs that support various payout methods, allowing you to build a fully controlled user journey. This guide explains how to implement bank wire payouts with streamlined KYC and fast settlement to end-user accounts.
Fetch real-time exchange rates and fees for each transaction. This lets you show users exactly how much stablecoin they need to pay and how much local currency they will receive. No user information is needed at this stage.
Add Bank Account
Mandatory step prior to confirming a payout request, but may be called at any point (not only while onboarding a new user). You can add multiple accounts for each user, even in different countries. The system checks for duplicate bank details using the BIC/SWIFT code and account number. Make sure the bank account holder’s name matches the user’s KYC/KYB information, or the payout may fail.
The Customer Identity Verification API is a versatile API that allows you three options to streamline KYC.
If you use Sumsub as your KYC provider, this API allows you to pass a Sumsub token to Noxxo, which will enable customers to skip KYC entirely.
This API provides a robust, fully automated compliance-as-a-service solution for both individuals and companies. It generates a unique, secure URL for each verification request. Users can upload required documents through this URL, and the system automatically processes, verifies, and provides real-time feedback on the verification status.
This option is available subject to a compliance reliance review. You can submit KYC documentation that you have already collected from your customers directly to Noxxo. Noxxo will still verify all submitted information and may request additional documents from the customer if necessary.
Create Payout Request by linking the user, selected bank account, and the quote. Each quote is valid for 15 minutes.
Confirm Payout to send the request to the local payment rail.
Once a payout is created, Noxxo screens the transaction status. Speed of transaction updates differs country by country.
Initial status of a payout request is set to "Acknowledged" and Noxxo screens for status changes in 15 minute intervals. Possible transaction statuses:
"Pending" — the transaction is being processed and final status is not yet received.
"Completed" — the payout was successful and accepted by the beneficiary bank.
"Failed" — the payout was rejected by the beneficiary bank.
Webhooks for Updates: Set up webhooks to receive automated updates on payout requests and transaction status. You will only receive a webhook when there is a status change.