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Quickstart Guide

This guide walks you through the complete flow of setting up and processing a collection with Config.money.

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1. Create a Collection Schedule

First, create a collection schedule for your customer using our API: 
curl -X POST https://api.config.money/api/v1/schedules \
  -H "Authorization: Bearer YOUR_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{
    "amount": {
      "value": 2000,
      "currency": "GBP"
    },
    "frequency": "monthly",
    "customer": {
      "phone": "+447700900000"
    },
    "description": "Monthly phone plan"
  }'
The response will include a consent_url: 
{
  "id": "sched_123456789",
  "status": "pending_consent",
  "amount": {
    "value": 2000,
    "currency": "GBP"
  },
  "consent_url": "https://my.config.money/consent/sched_123456789",
  "created_at": "2024-03-20T10:00:00Z"
}
  1. Share the consent_url with your customer
  2. When they visit the URL, they’ll see:
    • Collection details (amount, frequency, description)
    • Your business information
    • Terms and conditions
  3. Customer clicks “Continue” and is redirected to their banking app
  4. In their banking app, they:
    • Review the collection details
    • Authenticate using their banking app’s security (fingerprint, face ID, etc.)
    • Grant consent for the collection
  5. After consenting, they’re redirected back to your application

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3. Collection Processing

Once consent is granted:
  1. Config.money creates a personal wallet for the customer
  2. The wallet is issued by our EMI partner
  3. The collection schedule is activated
  4. You’ll receive a webhook notification of the status change

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4. Payment Flow

When a collection is due:
  1. Config.money initiates the payment through Open Banking
  2. Customer receives a push notification in their banking app
  3. Payment is processed instantly
  4. Funds are collected into the customer’s Config.money wallet
  5. Funds are automatically transferred to your merchant wallet
  6. You receive a webhook notification of the successful payment

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5. Settlement

  1. Funds in your merchant wallet are automatically settled to your bank account
  2. Settlement occurs on a T+1 basis
  3. You can track all settlements in your merchant dashboard

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6. Monitoring and Management

You can monitor the entire process through our API: 
# Check schedule status
curl https://api.config.money/api/v1/schedules/sched_123456789 \
  -H "Authorization: Bearer YOUR_API_KEY"

# List all payments for a schedule
curl https://api.config.money/api/v1/schedules/sched_123456789/payments \
  -H "Authorization: Bearer YOUR_API_KEY"

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Next Steps