Standalone Payments
A standalone payment is a one-time payment for a specific amount. Standalone payments are not part of a Payment Request or a recurring payment plan.
How do payments with Flywire work in general?
A payment with Flywire contains multiple steps:
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You ask your customer to pay for something. You can do this by sending them a link to Flywire's Checkout Experience or by embedding the Checkout Experience into your website.
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Your customer accesses the Checkout Experience and fills out the details to make the payment.
What is the Checkout Experience?
The Checkout Experience is the pop-up form that your customer accesses to make a payment. No matter how you ask your customer to pay - for example by sending them a link or by embedding the form on your website - they will always end up at the Checkout Experience to make their payment.
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This creates a payment in the Flywire system.
Definition of a payment within the Flywire system
In everyday usage, a "payment" usually refers to the entire process of making a payment through Flywire. But the term "payment" has a specific meaning in Flywire:
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A payment is considered created when a payment reference is assigned to it, not any earlier stage in the process.
What is the payment reference?
The payment reference is an ID generated by Flywire to identify a payment.
Format:
Either: ABC123456789
3-letter portal/recipient ID 9 numbers
Or: 1AB12CD452ABC1D
number 8 alphanums number 5-alphanum portal/recipient ID
With the payment reference, the payment can be tracked through the different stages of the payment process.
The payment reference is also important in other situations, for example:
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When a payer is using bank transfer as payment method, they usually must provide the payment reference when sending the funds.
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The payment reference helps Flywire to identify the payment if you or your payer needs support.
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When the payment reference is assigned, two things happen:
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The FX rate is locked in for FX payments (FX = "foreign exchange", a payment where one currency has to be converted to a different currency).
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The payment starts its journey in status initiated, and its progress traceable via the payment reference. If you are using Flywire Dashboard, you can view the payment on your dashboard.
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Flywire processes the payment for you and disburses the funds into your account.
Ways to create a Standalone Payment
Alternative ways to create a single (but not standalone) payment
Tracking Standalone Payments
After the payment is created, you can track the payment’s progress in two ways:
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via callbacks that enable you to receive payment status notifications
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via
Client Dashboard