Singapore FAST (Fast And Secure Transfers) payments allow businesses to conduct real-time, instant payments between banks in Singapore. Utilizing the ANZ Fileactive API, FAST payments offer a quick and reliable way to handle transactions, supporting both business-to-business and business-to-consumer payment needs.

Capabilities

  • Instant Payments: Enables real-time processing of payments, ensuring funds are transferred and available immediately.
  • 24/7 Availability: FAST payments can be made at any time, providing flexibility and convenience for businesses operating outside of regular banking hours.
  • Enhanced Cash Flow Management: Improve liquidity management with immediate transaction processing, aiding in better cash flow control.
  • Secure Transactions: All payments are securely processed using OAuth 2.0 authentication and encrypted communications to protect sensitive financial information.

Technical requirements

  • Authentication: Use OAuth 2.0 with the Client Credential Grant flow to authenticate API requests. Obtain a bearer token from the /v1.0/auth endpoint.
  • Endpoint: Use the /payment/sg/v1.0/fast endpoint to submit FAST payment requests.
  • Data Format: Requests and responses are in JSON format, ensuring easy integration and data handling.
  • Rate Limits: Adhere to the APIs rate limits to avoid throttling and ensure smooth operation.

Key features for developers

  • Simple Integration: RESTful API design allows for seamless integration of FAST payment capabilities into existing systems.
  • Real-Time Feedback: Receive immediate status updates and confirmations for payments, allowing for responsive transaction management.
  • Error Handling: Comprehensive error responses help developers quickly identify and resolve issues during the payment process.
  • Support for multiple use cases: Ideal for various business needs, including payroll, vendor payments, and consumer disbursements.
sequenceDiagram participant Business participant ANZ Fileactive %% Authentication Flow Business->>ANZ Fileactive: POST /v1.0/auth (OAuth Client Credential Grant) ANZ Fileactive-->>Business: 200 OK (Bearer Token) %% FAST Payment Request Flow Business->>ANZ Fileactive: POST /payment/sg/v1.0/fast (Submit FAST Payment) ANZ Fileactive-->>Business: 202 Accepted (Payment Request Received) %% Payment Status Check Note right of ANZ Fileactive: Processes the payment
and updates the status Business->>ANZ Fileactive: GET /payment/sg/v1.0/fast/{paymentId} (Check Payment Status) ANZ Fileactive-->>Business: 200 OK (Payment Status)