SMART-Disburse Payable with Single Payee

Overview

  • Claimant: Bridget Rose

  • Location: Dallas

  • Property type: Personal Car

  • Insurance type: Car Insurance

Bridget Rose is a Dallas resident who owns a car which she has insured. Her car recently suffered damage due to a falling tree branch during a storm, and her insurance is covering the repairs. In addition, the insurance is also providing a rental car for her to use while her own car is being fixed.

Disbursement Procedure

The insurance payout for this claim is determined as a single-party payment. This simplifies the process since no endorsement is necessary from any third party.

Due to the absence of information regarding Bridget’s bank account details, the insurance company will use the SMART-Disburse payment method.

"methodOfPayment": 5,

  • This approach provides Bridget the flexibility to select her preferred payment method from a range of options, including:
    ACH

  • MC Send

  • Check

  • Virtual Card

"behaviors": [
        "ACH",
        "MCSend",
        "Check",
        "VirtualCard"
    ]

Additional features of the disbursement process are as follows:

Provide the company’s contact details for Bridget’s convenience.


    "contactEmailAddress": "contact@example.com",
    "contactPhoneNumber": "+1987654321",

 

Require a digital Signature from Bridget to authenticate the transaction.


    "signatureRequired": true,

 

Apply a fallback option to ensure that the payment reaches her via provided address if needed.


    "applyPaymentFallbackToDeliveryMethod": true,

 

Require an answer to a security question.

"securityQuestions": [
        {
            "question": "What are the last 4 digits of your SNN?",
             "answer": "7456"
         }
     ],

Step 1: Gather Payee's Information 

Retrieve Bridget Rose’s information to facilitate the payment process

Name: Bridget Rose

Social Security Number (SSN): XXXXX7456

Date of Birth: January 1, 1990

Email: Bridget.rose@example.com

Phone Number: 757-211-9665

Address: 11681 Ora Route, Sunny Drive, 10 B, Dallas, TX, USA, 75247

Construct the “Payee” section of the API submission using the Payee’s information


    "payees": [
        {
            "partyReferenceId": "{{$guid}}",
            "firstName": "Bridget",
            "middleName": "",
            "lastName": "Rose",
            "businessName": "",
            "isBusiness": false,
            "socialSecurityNumber": "234597456",
            "dateOfBirth": "1990-01-01",
            "emailAddress": "bridget.rose@example.com",
            "phoneNumber": "7572119665",
            "smartDisburse": {
                "isEndorseOnly": false,
                "isPrimary": true,
                "amount": 500.00,
                "securityQuestions": [
                    {
                        "question": "What are the last 4 digits of your SNN?",
                        "answer": "7456"
                    }
                ],
                "tokenDeliveryMethods": {
                    "emailAddress": "bridget.rose@example.com",
                    "smsPhoneNumber": "7572119665"
                }
            },
            "address": {
                "addressLine1": "11681 Ora Route",
                "addressLine2": "Sunny Drive",
                "addressLine3": "10 B",
                "townName": "Dallas",
                "country": "USA",
                "countrySubDivision": "TX",
                "postCode": "75247"
            }
        }
    ]

 

Step 2: Prepare Payable Details

Organize the payment breakdown and relevant memos.

Net Total: $500.00

Currency: USD

Payment Terms: NET30

Due Date: September 22, 2023

Effective Date: August 22, 2023

Memo: Payment covers damages sustained by vehicle (Toyota Camry, 2020, 1339MN) during the storm incident on August 18, 2023. It also covers rental fees for a vehicle during car's repair period).

Remittance Information:

  • Car Reparation: $420.00 - Damages due to a falling tree branch (Including labor, replacement parts, and service fees).

  • Rental Car Provision: $80.00 - Rental fees for a substitute vehicle

Use Payable data in the API call:


    {
    "payableReferenceId": "{{$guid}}",
    "recordNumber": "{{randomNum}}",
    "netTotal": 500.00,
    "isoCurrencyCode": "USD",
    "payableTerms": "NET30",
    "payableDueDate": "2023-09-22",
    "payableEffectiveDate": "2023-08-22",
    "payableApprovalStatus": 2,
    "memo": "Payment covers damages sustained by vehicle (Toyota Camry, 2020, 1339MN) during the storm incident on August 18, 2023. It also covers rental fees for a vehicle during car's repair period).",
    "remittance": {
        "grossTotal": 500.00,
        "grossDiscount": 1.00,
        "tax": 100.25,
        "lineItems": [
            {
                "unitPrice": 420.00,
                "lineItemTotal": 420.00,
                "discount": 0.00,
                "quantity": 1,
                "lineNumber": 2,
                "item": "Car Reparation",
                "description": "Addressing damages due to a falling tree branch",
                "memo": "Includes labor, replacement parts and service fees"
            },
            {
                "unitPrice": 80.00,
                "lineItemTotal": 80.00,
                "discount": 0.00,
                "quantity": 1,
                "lineNumber": 2,
                "item": "Rental Car Provision",
                "description": "Covering rental fees for a substitute vehicle during car's repair period",
                "memo": ""
            }
        ]
    },
    "paymentInfo": {...
    },
    "payees": [
        ...
    ]
}

 

Step 3: Provide Payment Details 

Specify the details of the payment method and provide all the settings related to the disbursement process.

Considering the absence of Bridget’s banking details, the SMART-Disburse method is the chosen approach.

  • originationAccountReferenceId
    A unique identifier representing the origination account from which the disbursement funds are sourced.

  • methodOfPayment
    A numeric code indicating the selected method of payment. A value of 5 corresponds to the SMART-Disburse payment method.

  • templateId
    A unique identifier corresponding to a template that holds pre-configured UI settings tailored for a specific disbursement process of the business.

  • Expiration Date
    Every disbursement has an expiration date to ensure timely actions, with our set a month from the creation.

  • Behaviors
    An array that represents a list of vehicles available for the Payee to choose from during the disbursement process. In the given example Bridget will see ACH, Check, RTP, MC Send and Virtual card options.

Collect all the provided details and place them in the paymentInfo section of your API request:


    "paymentInfo": {
        "originationAccountReferenceId": "{{AccountReferenceID}}",
        "destinationFinancialInformation": {
            "isoCurrencyCode": "USD",
            "bankAccountDetails": {
                "nameOnAccount": "",
                "bankAccountNumber": "",
                "bankRoutingNumber": ""
            },
            "methodOfPayment": 5,
            "foreignExchangeInfo": {
                "originationIsoCurrencyCode": "USD",
                "destinationIsoCurrencyCode": "USD"
            }
        },
        "smartDisburseDetails": {
            "templateId": 1,
            "expirationDate": "2023-09-22T13:42:54+01:00",
            "applyPaymentFallbackToDeliveryMethod": true,
            "behaviors": [
                "ACH",
                "MCSend",
                "RTP",
                "Check",
                "VirtualCard"
            ]
        }
    },

 

Step 4: Submit the API Request

 

When the payload data is prepared, send it to the appropriate API Endpoint to initiate the disbursement.

Endpoint: /Payables/

HTTP Method: POST