Payments, transactions, submissions and admissions

Making a payment is a multistep process. There are several resources that you will need to interact with throughout its processing lifecycle which are described below.

Payments

A payment is an immutable resource which captures the intent to move funds between two bank accounts. Creating a payment does not cause any movement of funds by itself; the movement of funds is initiated by an admission or a submission, depending on whether you are receiving or sending the payment.

Transactions

A transaction is an immutable resource which captures the realised movement of funds. Transactions may represent any movement of funds, such as payments, fees and interest to name a few.

Submissions

A submission is a mutable resource which tracks the progress of an outbound payment (a payment that you have sent).

Admissions

An admission is a mutable resource which tracks the progress of an inbound payment (a payment that you have received).