Mass Payments MXN

Avoid grappling with the intricacies of managing individual payment details for each recipient. Our platform enables you to simplify your payment processes by disbursing payments to multiple beneficiaries concurrently, all automated via API, eliminating the need for manual intervention.

Whether executing a series of one-time transactions or establishing a regular cadence of recurring payments where payment amounts remain consistent, Bitso provides you with the flexibility to customize your mass payment approach based on your needs.

Consider the terminology used in our documentation:

Pay-in is referred to as deposit funds
Payout is referred to as withdrawal

To implement your mass-payment flow, you need to know how to do the following tasks via API calls:

Enable international payments in MXN only if you are a non-Mexican institutional client. For Mexican clients, payments in MXN are enabled by default.
Retrieve your funding destination data so you or your payers can deposit funds into your Bitso account. You can get your funding data for crypto and fiat currencies.
Withdraw funds from your Bitso account into your payees’ accounts.
Set up a callback URL so Bitso’s webhooks can notify you of real-time status data about withdrawal and funding events.

We have articles that delve into these tasks. This write-up lets you know how to reach those detailed publications focusing on payments in Mexican pesos (MXN).

Enabling International Payments in MXN

Only non-Mexican institutional clients must complete this process using the web Bitso application. It is the only task of a mass-payment implementation that is not API-based, but it is a one-time job. How to Enable International Payments in MXN walks you through the steps.

Retrieving Your Funding Destination Data

The introductory section, Retrieve Your Destination Address, provides essential facts to consider when getting this data. The article Get Funding Details documents all the specifics about the endpoint that retrieves the data.

Unfortunately, for now, we are using an endpoint designed to interact with the web Bitso application, so the output is not as user-friendly as desired. We are working on having an endpoint that will provide an ideal user experience for retrieving your funding destination information. However, you will be able to obtain the information required to operate.

Withdrawing Funds

Bitso’s Withdrawal Service uses a general-purpose endpoint whose body parameters you configure for the currency you want to withdraw. This consistent approach enables having a very short learning curve, systematic flows, and simple troubleshooting procedures.

Read the article, Bitso’s Withdrawal Service, for a high-level overview. It explains general concepts that apply to every withdrawal and the three steps of any withdrawal flow:

Configure the parameters of the withdrawal call for the transaction you need,
GET /v3/withdrawal_methods/{currency}.
Make the withdrawal call, POST /v3/withdrawals/.
Track your withdrawal, GET /v3/withdrawals/{wid}.

Two approaches to the general withdrawal flow are possible:

You first create the receiving account (also named contact) in Bitso’s system and then call the Withdrawal Service. This one simplifies the body of the withdrawal calls.
You call the Withdrawal Service including the receiving account data in the body of the call. This approach entails sending a more significant number of body parameters.

In Withdrawing MXN, you learn the specifics of the three steps of the MXN withdrawal flow using any of these two approaches.

The section Managing Receiving Accounts summarizes the account-managing endpoints Bitso provides, the four CRUD methods of the Contents API. You can find its Open API definition on this page. The article Add a Receiving Account explains the flow for creating an account in Bitso’s system, and it contains the segment Receiving Accounts in MXN, which illustrates specific examples for this currency. Articles to retrieve, update, or delete your receiving accounts also exist.

Setting Up a Callback URL

To set up your notifications service for withdrawal and funding events, subscribe to funding and withdrawal with Create webhook subscriptions. See Managing Subscriptions and the funding and withdrawal payload examples.