Abstract: Transactions between account-based endpoints are performed in a two-step process that first qualifies the recipient's validity and then performs the actionable transfer. The qualification step, unlike a payment pre-qualification, validates the recipient account validity while collecting information required for filling out a transaction data set. The information may include anti-money laundering and know-your-customer information as well as specific account details needed for on-boarding. A recipient payouts service provider may be assigned a tokenized bank identification number for use in routing the transfer through existing financial processing networks. Data constructs, minimum required information, and format checks may be facilitated by initiator-side and recipient-side application program interfaces.

Abstract: Transactions between account-based endpoints are performed in a two-step process that first qualifies the recipient's validity and then performs the actionable transfer. The qualification step, unlike a payment pre-qualification, validates the recipient account validity while collecting information required for filling out a transaction data set. The information may include anti-money laundering and know-your-customer information as well as specific account details needed for on-boarding. A recipient payouts service provider may be assigned a tokenized bank identification number for use in routing the transfer through existing financial processing networks. Data constructs, minimum required information, and format checks may be facilitated by initiator-side and recipient-side application program interfaces.