Business types
Business types define the purpose of transactions according to specific categories. The business type is passed on to the card network when making a transaction. Business types are sometimes called use cases.
In our APIs, the businessType identifier is a two-character code Cross River uses to identify the purpose of a push or pull payment. We ultimately pass these to the Visa Direct and MasterCard Send payment rails as BAI codes (Visa) or TTIs (MasterCard).
Business type codes determine the following:
- The data that a push or pull payment message must contain. Some business types require additional information in the request. For example a value of PP for the businessType means the correspondingEntity object is required.
- The limits and economic conditions relevant to a particular transaction.
Based on the business type, a payment sender or receiver can make an authorization decision.
The possible business type for a transaction is determined together with Cross River and the card networks during onboarding and is based on the use case of the money movement.
If you are approved for only a single business type, Cross River configures this for you, so the information properly passes to the card networks. This is your Default Business Type. In this case it is not necessary to pass the businessType in the API request.
If you are approved for multiple business types, you can pass the businessType code in the API request, to be passed along to the card networks.
Code | Application type | Payment category |
|---|---|---|
AA | Account to account | Money transfer |
BB | Business to business | Funds disbursement |
CD | Cash deposit | Money transfer |
CP | Card bill payment | Credit card bill payment |
FD | Funds disbursement (general) | Funds disbursement |
FT | Funds transfer | Money transfer |
PP | Person to person | Money transfer |
WT | Wallet transfer | Money transfer |
In the framework of money transfers:
- AA applies to transactions where sender and recipient are the same person.
- PP is when sender and recipient are not the same.
In card payments, corresponding entities are either the receiver of a pull transaction (AFT) or the sender of a push transaction (OCT). This information must be included in the request for PP and AA money transfers in the correspondingEntity object of the request.