Real Time Notifications Singapore Code Catalogue

 

The Singapore FAST Real-Time Notification (RTN) service provides immediate updates for payment-related events within the Singapore FAST (Fast and Secure Transfers) system. This service is essential for businesses looking to enhance their payment processing workflows by receiving instant notifications for critical financial events such as payment initiations, completions, and failures.

Key Capabilities:

  • Immediate Alerts: Receive real-time notifications for payment events, enabling swift action and improved transaction monitoring.
  • Secure Communication: All notifications are transmitted securely using HTTPS, ensuring the confidentiality and integrity of the data.
  • Subscription-Based Model: Clients can subscribe to specific event types, allowing them to tailor the notifications they receive based on business needs.
  • High Scalability: The RTN service is designed to support high transaction volumes, making it suitable for businesses of all sizes.

Technical Requirements:

  • Authentication: Access to the RTN service requires OAuth 2.0 authentication with a bearer token, which is obtained via the Client Credential Grant flow.
  • Endpoints: Notifications are delivered through dedicated endpoints configured to handle the various event types related to the FAST system.
  • Payload Structure: Notifications are sent in JSON format, containing key details such as transaction IDs, timestamps, and status information.
  • Error Handling: Implement robust error handling to manage scenarios where notifications fail to be delivered or processed.

Key Features for Developers:

  • Webhook Integration: RTN uses webhooks to push notifications directly to your application, eliminating the need for frequent polling and reducing latency.
  • Event Filtering: Customize event subscriptions to receive only the notifications relevant to your business, improving the efficiency of your processes.
  • Built-in Retry Logic: Notifications include retry mechanisms to ensure delivery, enhancing the reliability of the service even in the case of transient errors.
  • Security Compliance: Each notification is digitally signed, and HTTPS is used for all communications, ensuring adherence to security best practices.

Example Use Cases:

  • Automated Reconciliation: Use real-time notifications to automatically update payment records in your system, streamlining reconciliation processes.
  • Customer Notifications: Provide instant updates to customers regarding the status of their payments, enhancing service transparency and customer satisfaction.
  • Risk Management: Monitor payment events in real-time to quickly identify and respond to potential issues, such as payment rejections or delays.