Business Single Payment Initiation
Business Single Payment Initiation is a solution for third parties who support accounting and bookkeeping for their clients. For example, you provide services that support the financial administration of a Rabobank business accountholder.
This API allows your clients to initiate single payments from Rabobank accounts through your application. It can be used through your app or web service to optimize your customer journey.
Payments can only be initiated from an account when the account holder authorizes these payments using a Rabo Business Banking or Rabo Business Banking Pro.
This API is in the prototype stage and the goal is to collect your feedback. The implementation of this API is possible in the Sandbox, but be aware that things can still change.
This API will be a part of Rabo BoekhoudKoppeling in the future.
Working with Rabobank
To ensure a smooth start with the Business Single Payment Initiation API, your business should meet the following conditions:
- High degree of automation.
- Professional IT environment and good infrastructure.
- Permanently available security expertise to use Business Single payment Initiation API and safeguarding its security.
Connecting with Business Single Payment Initiation
To connect with Business Single Payment Initiation you need the following:
- An EV SSL certificate for transport.
- An EV SSL signing certificate for signing messages.
- An active Rabobank business account.
- EV SSL certificates from the certificate issuers listed in the Mozilla CA Certificate report.
- X.509 format
- RSA: key length should be at least 2048-bit
- Certificate should be valid for a maximum of one year.
You are responsible for the application, certificate purchases, and other costs involved.
You may use duplicate certificates but they must comply with all the listed requirements.
You can open a Rabobank business account through our website.
How does the Business Single Payment Initiation API work?
- Prior sending single payments, the account holder must give approval to the third party for sending single payment orders to Rabobank on behalf of their organization for the specified payment account(s). This approval is continuous.
- The customer instructs (via the portal of the third party) to have the payment transaction executed by Rabobank.
- The Rabobank provides the third party with the status on the submitted upload.
- The customer authorizes the payment in Rabo Business Banking or Rabo Business Banking Pro.
- After a successful authorization, Rabobank has received the payment order and starts processing the payment transaction in the same way as if the payment had been submitted via a Rabobank channel. This means, among other things:
- If a payment order is refused due to insufficient funds, we may check one or more times, up to and including three working days after the date of refusal, whether the reason for refusal still exists. If we believe that there is no longer a reason for refusal, we may restart processing the payment order on behalf of our customer.
- When processing a Euro Payment, we check whether the beneficiary's bank is reachable for Instant Payments. If that is the case, we will process the payment order as an Instant Payment. If that is not the case, we will process the payment order as a 'normal' SEPA Credit Transfer.
- The third party can retrieve the status of the payment through the status API to keep track.
IBAN Name Check
With the IBAN Name Check you enable users of your software to check their customer and/or supplier data. This way the user is aware to whom the payment is made, or collected from using Direct Debit and able to assess if the IBAN and name of new customers and new suppliers belong together.
You can easily add the IBAN Name Check to your customer journey using Rabobank Identity Services.
What's coming up?
To enable you to further optimize your customer journey, we have the following ideas:
- The possibility to have the account holder sign using a redirect flow.
- Push status information for a better API user experience.
We will keep you updated on the progress. Do you have any other ideas or wishes for us with which you can improve your Customer Journey? Please feel free to contact us!
Get in touch
Contact us to provide your feedback for the Business Single Payment Initiation API.