alfred supports both first-party and third-party payments for customers:

First Party Payment

First-party payments involve moving funds on behalf of the same individual or business. Matching the information of the KYC/B that was approved in screening. — for example, a business converting USD to USDC for its own treasury. Or an individual converting their USDC into their local peso ARS for example.

Third Party Payment

Third-party payments involve sending or receiving funds on behalf of another party — such as a platform disbursing wages to a worker, or collecting payments from consumers on behalf of a merchant.

Registering a Fiat Account

This endpoint allows the creation of fiat accounts. Find more information contextual to each country in our Registering payment methods section. To distinguish between first-party (owned by the customer) and third-party (beneficiary) accounts, use the isExternal field:

In order to register a FIAT account for a third party, simply call the Create Payment Method endpoint.

Register a First-Party Account

To create a first-party account (owned by the customer), you may omit the isExternal field or set it to false.

curl --location 'https://penny-api-restricted-dev.alfredpay.io/api/v1/third-party-service/penny/fiatAccounts' \  
\--header 'Content-Type: application/json' \
\--header 'accept: */*' \
\--header 'api-key: xxxxxxx' \
\--header 'api-secret: xxxxxxx' \
\--data '{
  "customerId": "00a8c563-8e11-48f8-8a81-5fe79af779fb",
  "type": "SPEI",
  "fiatAccountFields": {
    "accountNumber": "012180187240503253",
    "accountType": "CLABE"
  }
}'

Register a Third-Party Account

To create a third-party account (used to send funds to an external beneficiary), set isExternal to true.

curl --location 'https://penny-api-restricted-dev.alfredpay.io/api/v1/third-party-service/penny/fiatAccounts' \  
\--header 'Content-Type: application/json' \
\--header 'accept: */*' \
\--header 'api-key: xxxxxxx' \
\--header 'api-secret: xxxxxxx' \
\--data '{
  "customerId": "00a8c563-8e11-48f8-8a81-5fe79af779fb",
  "type": "SPEI",
  "fiatAccountFields": {
    "accountNumber": "012180187240503253",
    "accountType": "CLABE"
  },
  "isExternal": true
}'

📘

The only difference between a first-party and a third-party account is the presence of the isExternal: true field. If isExternal is not provided, the account will be treated as first-party by default.

alfred allows you to:

• Pay a vendor in fiat, even if the original funds are in stablecoins.
• Collect fiat from a merchant and deliver stablecoins to a consumer.
• Peer-to-peer (P2P) transfers between individuals are supported, subject to applicable limits.

alfred may, at its discretion, request additional information or documentation to support a third-party payment.