Payments Connectors

The Payment Service provides a connector framework that allows you to integrate with any payment provider. It pre-packages the integration logic for some of the most popular payment providers, as per the table below, with the goal of providing connectivity to as many local and specific payment providers as possible.

You can also create your own custom connectors by implementing the Connector Framework and taking inspiration from the existing connectors in the Github repository.

Logic behind the connectors

When installing a connector on Formance Console or by using the API, you will be able to configure a polling period that will default to 2 minutes if not specified.

This polling period will be used to periodically poll the payment service provider in order to fetch all the data we need: Payments, Accounts, Transfer/Payouts statuses when you create your transfer initiation etc.

We are continuously working to enhance our platform and are actively exploring options to support listening to the payments service provider instead of using polling. Stay tuned for future updates and developments in this area.

Supported processors

Capabilities	Adyen	Atlar	BankingCircle	CurrencyCloud	Mangopay	Modulr	Moneycorp	Stripe	Wise	Generic
Accounts Data Layer	✅	✅	✅	✅	✅	✅	✅	✅	✅	✅
External Accounts Data Layer	❌	✅	✅	✅	✅	✅	✅	✅	✅	✅
Accounts Balances Data Layer	❌	✅	✅	✅	✅	✅	✅	✅	✅	✅
Transactions Data Layer	✅ (without history)	✅	✅	✅	✅	✅	✅	✅	✅	✅
Bank Account Creation	❌	✅	✅	❌	✅	❌	❌	❌	❌	❌
Transfer Initiation	❌	✅	✅	✅	✅	✅	✅	✅	✅	❌
Payout Initiation	❌	✅	✅	✅	✅	✅	✅	✅	✅	❌

Capabilities definitions

Accounts Data Layer

Provide the ability to fetch on the related payment provider internal accounts, also known as as user's digital e-wallets, that serve as a secure storage for funds within the payments provider environment.

External Accounts Data Layer

Provide the ability to fetch external accounts, which represent actual bank accounts of the user.

Accounts Balances Data Layer

Provide the ability to fetch the internal accounts balances. It is important to note that none of the payment providers supports the fetching of the balances history for accounts.

Transactions Data Layer

Provide the ability to fetch the transactions happening on the payment provider and relate them to the accounts previously fetched.

Bank Account Creation

Provide the ability to create a bank account on the payment provider side. This is useful when you want to create a bank account for a user and then initiate a payout to that bank account.

Transfer Initiation

Provide the ability to initiate a transfer from one internal account to another internal account.

Payout Initiation

Provide the ability to initiate a payout to an external bank account from an internal account.