Payment Schemes

A payment scheme is a set of rules that Payment Service Providers(PSP) have agreed upon to execute transactions through a specific payment instrument (such as credit transfer, direct debit, card, etc).

Please see the below table for payment schemes supported on Fincra.

Please Note
CHAPS payments can be sent between 08:00 – 17:00 Monday to Friday (excluding UK public holidays).

Currency: This refers to the destination currency.

Payment Scheme: This is the valid payment scheme used in the beneficiary region.

API Value: The accepted value of the payment scheme that is to be sent in the API request.

When do you need a payment scheme? When making payments to bank accounts in the currencies specified in the table, you will need a payment scheme

Nigerian Bank Codes

Please Note that this section applies to NGN payouts and not FCY payouts

Bank Codes are a required field when making NGN payouts or Transfers.