Payout

When performing a payout, the customer initiates a payout and then just waits for the funds to be credited to their account. The customer themself doesn't participate in the payout processing procedure.

Countries and regions Republic of Korea
Payment currencies KRW
Payment amount limits Contact your key account manager at Monetix for details. Also you can check the payment amount limits in your project by using Dashboard.
Payment processing time Contact your key account manager at Monetix for details.
Currency conversion On the Monetix side
Refund
Onboarding and access fee Contact your key account manager at Monetix for details.
Special considerations

The amounts for the KRW currency must be specified in major currency units (without any fractional part) according to the ISO-4217 alpha-3 standard.

For example, if the customer initiates a 1000 KRW purchase in your system, you are required to submit the 1000 as the payment amount in your purchase request.

You can check the number of digits for minor currency units for any currency in Currency codes.

Operations support

Interfaces
Payment Page Gate Dashboard
Payout

You can check the payment amount limits in your project by using Dashboard. To check your payment amount limits, go to Dashboard, select the Projects section, and then click the Payment methods tab.

The following sections provide more information about the payment processing flow and the analysis of completed payments.

Payout by using Gate

General information

To perform a payout by using Gate with the Banks of Korea payment method:

  1. Send a request with all the required parameters and signature to the Monetix URL.
  2. Accept the callback with the payout result from the payment platform.

The following picture provides the details of the payout processing flow in the Banks of Korea payment method.

Figure 1. Payout processing flow when performing a payout by using Gate
  1. The customer initiates a payout in your system.
  2. Your system sends the payout request to the Monetix payment platform.
  3. The payment platform sends you a response in which it acknowledges your request and provides the request validation result. (For more information about the response format, see Response structure.)
  4. The payment platform processes the request and forwards it to the provider service.
  5. The provider service informs the payment platform about the payout result.
  6. The payment platform sends a callback with the payout result to your system.
  7. Your system sends the payout result to the customer.

Request

This section provides the instructions on how to build the request for payout with the Banks of Korea payment method.

HTTP request method POST
Request body format JSON
API endpoint/v2/payment/banks/korea/payout
Full API endpoint specification /v2/payment/banks/{payment_method}/payout
Table 1. Basic parameters of a payout request

strictly required—the parameter must be in the initial request.
ObjectParameterDescription

general
object
strictly required

project_id
integer
strictly required

Project ID you obtained from Monetix when integrating.

Example: 1234

payment_id
string
strictly required

Payment ID unique within your project.

Example: payment_47

signature
string
strictly required

Signature created after you've specified all the request parameters. For more information about signature generation, see Signature generation and verification.

customer
object
strictly required

id
string
strictly required

Unique ID of the customer within your project.

Example: customer_123

ip_address
string
strictly required

IP address of the customer's device.

Example: 198.51.100.47

email
string
strictly required

Customer's email.

Example: johndoe@example.com

account
object
strictly required

number
string
strictly required

Customer's account number.

Example: 1234567890123456

bank_id
integer
strictly required

Customer's bank ID. For information on how to get the list of the supported banks IDs, see Banks available for payout.

Example: 1486

customer_name
string
strictly required

Customer's full name.

Example: John Doe

payment
object
strictly required

currency
string
strictly required

Code of the payment currency in the ISO-4217 alpha-3 format.

Example: KRW

amount
integer
strictly required

Payment amount in major currency units (without fractional part).

If the currency has minor units (i.e. the number of digits for minor currency units is not zero), set this parameter to the amount in the minor currency units without any decimal point or comma. To check whether the currency has any minor units, see Currency codes.

Example: 100,000 KRW must be sent as 100000

You can also add any other optional parameters to the payout request, if necessary. For the list of all the parameters available in Gate, see API Reference.

Here is an example of the data from a request to initiate a payout with the Banks of Korea payment method:

Figure 2. Example of the payout request body
{
    "general": {
        "project_id": 1234,
        "payment_id": "payment_47",
        "signature": "kUi2x9dKHAVNU0FYldJrxh4yo+52Kt8KU+Y19vySO/RLUkDJrOcZzUCwX6R/ekpZhkIQg=="
    },
    "customer": {
        "id": "customer_123",
        "ip_address": "198.51.100.47",
        "email": "johndoe@example.com"
    },
    "account": {
        "number": "1234567890123456",
        "bank_id": 1486,
        "customer_name": "John Doe"
    },
    "payment": {
        "currency": "KRW",
        "amount": 100000
    }
}

Callback

In the Banks of Korea payment method, the payment platform returns the payout result in a callback. For the information about the callback structure, see Callbacks in Gate.

The following is an example of a callback body with the information about a successfully completed payout.

Figure 3. Example of the data from a successful payout callback
{
    "project_id": 1234,
    "payment": {
        "id": "payment_47",
        "type": "payout",
        "status": "success",
        "date": "2024-12-07T19:08:45+0000",
        "method": "Korean banks",
        "sum": {
            "amount": 100000,
            "currency": "KRW"
        },
        "description": ""
    },
    "customer": {
        "id": "customer_123"
    },
    "operation": {
        "id": 47,
        "type": "payout",
        "status": "success",
        "date": "2024-12-07T19:08:45+0000",
        "created_date": "2024-12-07T19:08:05+0000",
        "request_id": "1a23456bc7890de",
        "sum_initial": {
            "amount": 100000,
            "currency": "KRW"
        },
        "sum_converted": {
            "amount": 100000,
            "currency": "KRW"
        },
        "code": "0",
        "message": "Success",
        "provider": {
            "id": 12345,
            "payment_id": "123abc123-123",
            "auth_code": ""
        }
    },
    "account": {
        "number": "1234567890123456"
    },
    "signature": "U7HQO7ToISZhMPKdM4XrUKQtoYzFvoB3cs9CRd4xeYG2Q=="
}

The following is an example of a callback for a declined payout.

Figure 4. Example of the data from a declined payout callback
{
    "project_id": 1234,
    "payment": {
        "id": "payment_47",
        "type": "payout",
        "status": "decline",
        "date": "2024-12-07T19:08:45+0000",
        "method": "Korean banks",
        "sum": {
            "amount": 100000,
            "currency": "KRW"
        },
        "description": ""
    },
    "customer": {
        "id": "customer_123"
    },
    "operation": {
        "id": 47,
        "type": "payout",
        "status": "decline",
        "date": "2024-12-07T19:08:45+0000",
        "created_date": "2024-12-07T19:08:05+0000",
        "request_id": "1a23456bc7890de",
        "sum_initial": {
            "amount": 100000,
            "currency": "KRW"
        },
        "sum_converted": {
            "amount": 100000,
            "currency": "KRW"
        },
        "code": "20000",
        "message": "General decline",
        "provider": {
            "id": 12345,
            "payment_id": "123abc123-123",
            "auth_code": ""
        }
    },
    "account": {
        "number": "1234567890123456"
    },
    "signature": "U7HQO7ToISZhMPKdM4XrUKQtoYzFvoB3cs9CRd4xeYG2Q=="
}

Related topics

Payout by using Dashboard

To make a payout through Dashboard, the merchant sends a request and receives a notification with the request processing result. There are two ways to initiate payouts through Dashboard:
  • single payout—you specify the currency and amount for a payout available for this method and fill in all the fields required for the selected payment method on the Dashboard pages.
  • as a part of a mass payment—all the parameters are specified in a CSV file. Refer to the Payouts by using Gate section for the parameters required by your payment method.

Information about completed payouts is available for viewing in the Payments and Manual Payments sections of Dashboard.

For more information about payout processing by using Dashboard, see Performing payouts.

Banks available for payout

Supported banks

In the Banks of Korea payment method, payments are performed through the banks the payment method supports. For the payout to be performed, your request must contain the ID of the customer's bank in the account.bank_id parameter.

The table below lists the banks available for payout in the Banks of Korea payment method.

Table 2. Banks available for payout
BankID
Bank of America - 뱅크오브아메리카67751
Bank of China - 중국은행67761
Bank of Communications - 교통은행67911
BNP Paribas Bank - 비엔피파리바은행70652
Bookook Securities - 부국증권70532
Busan Bank - 부산은행1376
CAPE INVESTMENT Securities - 케이프투자증권70692
China Construction Bank - 중국건설은행70582
Citibank Korea - 한국씨티은행1476
Credit Union - 신용협동조합1426
Daegu Bank - 대구은행1366
Daishin Securities - 대신증권70742
DB Financial Investment - DB금융투자70592
Deutsche Bank - 도이치은행67801
dmsgod Mutual Savings Bank - 상호저축1396
eBEST Investment & Securities - 이베스트투자증권70632
Eugene Investment & Securities - 유진투자증권70492
Gwangju Bank - 광주은행66702
Hana Financial Investment - 하나금융투자70502
Hanwha Investment & Securities - 한화투자증권70552
Hi Investment & Securities - 하이투자증권70782
HSBC Bank - HSBC은행70562
Hyundai Motor Securities - 현대차증권70722
IBK761
Industrial and Commercial Bank of China - 중국공상은행67771
Industrial Bank of Korea - 기업은행66672
Jeju Bank - 제주은행1456
Jeonbuk Bank - 전북은행1446
Jiyeok Nonghyup - NH지역농.축협75452
JPMorgan Chase - JP모건 체이스67811
K Bank - 케이뱅크1486
KAKAO PAY Securities - 카카오페이증권70762
KakaoBank - 카카오뱅크1406
KB Securities - KB증권70732
KDB - 산업은행1386
KEB - 외환은행75532
KEB Hana Bank - 하나은행1466
KFCC - 새마을금고2791
Kiwoom - 키움증권70702
Kookmin Bank - KB국민은행2751
Korea Development Bank - 산업은행67721
KOREA FOSS Securities - 한국포스증권70642
Korea Investment & Securities - 한국투자증권70682
Korea Post Office - 우체국66752
Korean Federation of Community Credit Cooperatives - 새마을금고66722
Kwangju Bank - 광주은행1356
KYOBO Securities - 교보증권70612
Kyongnam Bank - 경남은행66712
Kyungnam Bank - 경남은행77296
MERITZ Securities - 메리츠증권70542
MiraeAssetDaewoo - 미래에셋대우70672
Mizuho Corporate Bank - 미즈호은행67821
Morgan Stanley Bank - 모건스탠리은행70662
MUFG Bank - 엠유에프지은행70512
NACUFOK (shinhyup) - 신협중앙회77286
National Agricultural Cooperative Federation - 농협66682
National Agricultural Cooperative Federation Union - 농․축협66742
National Credit Union Federation of Korea - 신협은행66732
National Forestry Cooperative Federation - 산림조합67921
NH Investment & Securities - NH투자증권70772
Nonghyup Bank - NH농협은행2761
Post Bank - 우체국은행1436
Saemaeul Bank - 새마을금고77276
Samsung Securities - 삼성증권70522
Saving Bank - 저축은행70622
Shinhan - 신한은행751
Shinhyup Bank - 신협은행70272
SHINYOUNG Securities - 신영증권70482
SK Securities - SK증권70602
Standard Chartered First Bank Korea - SC은행66692
Standard Chartered Korea - SC 제일은행67741
Suhyup Bank - 수협1416
The Korea Securities Finance Corporation - 한국증권금융70572
TossBank - 토스뱅크70282
United Overseas Bank - 대화은행67781
Woori - 우리은행791
Woori Bank - 우리은행2821
Yuanta Securities - 유안타증권70752

The table with the list of banks is provided for informational purposes only. It may change without notice. To get the current list of banks the Banks of Korea payment method supports, send a request to the payment platform.

Request for the list of available banks

The list of banks may change that's why we recommend that you send the payment platform a request for the list of banks currently available in the Banks of Korea payment method. The request format and structure should be the following:

HTTP request method POST
Request body format JSON
API endpoint /v2/info/banks/korea/payout/list
Full API endpoint specification /v2/info/banks/{payment_method}/{operationType}/list
Table 3. Parameters required in the request to get the list of banks available in the payment method

strictly required—parameter is required in the initial request.

Object Parameter Description

general
object
strictly required

project_id
integer
strictly required

 Project ID you obtained when integrating with Monetix.

Example: 123

payment_id
string
strictly required

 Payment ID unique within the project.

If the payment is not yet created, set this parameter to a unique value.

Example: payment_47

signature
string
strictly required

 Signature created after you specify all the required parameters. For more information about, signature generation, see Signature generation and verification.

payment
object
strictly required

amount
integer
strictly required

 Payment amount in major currency units (without fractional part).

If the currency has minor units (i.e. the number of digits for minor currency units is not zero), set this parameter to the amount in the minor currency units without any decimal point or comma. To check whether the currency has any minor units, see Currency codes.

Example: 100,000 KRW must be sent as 100000

currency
string
strictly required

 Code of the payout currency in the ISO-4217 alpha-3 format.

Example: KRW
You can also add any other optional parameters to the request, if necessary. For the list of all the parameters available in Gate, see API Reference.

Here is an example of the data from the request for the list of banks available in the Banks of Korea payment method.

Figure 5. Example of the data from the request for the list of available banks
{
    "general": {
        "project_id": 200,
        "payment_id": "ORDER_155860015",
        "signature": "K6jll2ym+PtOb3ocZtr345st...=="
    },
    "payment": {
        "amount": 100000,
        "currency": "KRW"
    }
}
Figure 6. Example of the response with the list of banks available in the payment method
[
    {
        "minAmount": 100, // Minimum payment amount allowed for the payment (in minor currency units)
        "maxAmount": 1000, // Maximum payment amount allowed for the payment (in minor currency units)
        "limitCurrency": "KRW", // Code of the currency used for the payment limits (minAmount and maxAmount) in the ISO-4217 alpha-3 format
        "id": 123, // Bank ID
        "abbr": "EXB", // Bank shortcut name (for internal use)
        "name": "Example Bank", // General bank name
        "nativeName": "Example Bank", // Native bank name
        "currencies": [ // Array with currencies supported by the bank
            {
                "id": 123, // Currency ID in the payment platform
                "alpha_3_4217": "KRW", // Alphabetic code of the payment currency in the ISO-4217 alpha-3 format
                "number_3_4217": "123", // Numeric code of the payment currency in the ISO-4217 alpha-3 format
                "currency_type": "fiat", // Type of the currency
                "exponent": 0 // Number of decimal places after decimal point
            }
        ]
    }
]