Polaris Collect

Owned by Ope Adeoye
Last updated: Feb 16, 2020
1 min read

Settlement & fees model

Polaris will transfer to the account of the app, less the agreed fees. Polaris will then credit the settlement account of the host client with the collected fees. At settlement, the Host client will debit the agreed fee from the settlement account and split with all relevant parties.

Model

How it works

Model

How it works

Amount

The provider removes a percentage or flat fee from the amount as fee and settles the difference to the app owner (via the client).

Process flows

Sequence of calls

  1. App of JS calls /transact with the right auth details

  2. Provider responds with WaitingForOTP if not overridden

  3. App calls /transact/validate to supply OTP

  4. Provider responds with any of the completion codes Successful or Failed.

  5. To query the status of a transaction, the app can call /transact/query

  6. Where the provider supports it, the app can call /transact/reverse to request a reversal

Acceptable values for auth.type

Type

Description

Type

Description

bank.account

Takes bank account details for debit.

wallet

Takes a wallet ID for debit.

bank.transfer

Simply instructs the provider to generate bank transfer instructions.

Possible response codes

For this service, these are the possible responses a client can receive

Response code

Meaning

Response code

Meaning

Successful

Standard success code

Failed

Standard failure code

WaitingForOTP

To signify that this provider has requested an OTP from the customer and it should be supplied.

PendingValidation

To signify that this provider needs some extra information to be provided. The response.message will contain the prompt.

Special notes

This is effectively Polaris bank forcing an NIP (or local transfer) out of the customer’s account into the app owner’s account. At the same time, the provider fires a second transaction to put the fees into the settlement account of Polaris.