Get your refunds right with no manual work
As businesses strive for efficiency and automation, refunding incorrect and unknown payments remain a source of manual labor. OP Corporate Refund API brings an up-to-date solution to the problem.
OP Corporate Refund API allows our corporate customers to refund erroneous payments in an easy, simple and efficient way. Instead of slow, manual work and contacting the payers personally, companies are now able to automate the whole process.
The benefits are evident for all parties: the companies save time and other resources, and the original debtor gets their money back faster.
Just like our previous Corporate Banking APIs, the Corporate Refund API is built using well-known technologies such as JSON, REST and OAuth 2.0, making integration to your systems smooth. For more technical details, see the API documentation.
Return payments effortlessly
Large companies with high inbound payment volumes often receive erroneous payment transactions. Sometimes the amount is incorrect. Occasionally the payment was meant for someone else and the payer mistyped the account number. Incorrect or unrecognized payments can’t be balanced with receivables.
In Finland, the receiver can’t usually see the account number of the payer, which has made sorting and refunding them a time-consuming process with a lot of manual work. A company has had to contact the payer personally to request their account number. Usually, the only available contact information is a mail address, so the only option is to resort to paper mail. At worst, it takes up to several weeks for the refund to be credited.
With the new Corporate Refund API, we’re bringing the refund processes to this decade – no more manual investigation and snail mail to customers. From now on, everything is automatic: you can initiate a refund using only the data of the original transaction. We'll take care of the rest and return the amount back to the original payer.
Sandbox and production APIs available now
As always, we provide a sandbox version that is available to all interested developers free of charge. Contact us at corp-payment-APIs@op.fi, and we’ll help you access the sandbox.
To onboard in production, go to OP API Admin, our self-service portal for Corporate Banking APIs, and follow the instructions. After signing the contract, you’ll get everything you need to start using the API.
Remember to check out our previous Corporate Banking APIs too:
- OP Corporate Account Data API enables you to view an up-to-date account balance in your own app and retrieve account transactions whenever you need them.
- OP Corporate Payment API allows you to initiate payments from an app using your company’s account – no need to wait for the next batch run.
- OP Corporate Transaction Filter API lets you query your corporate account transactions using selected search filters.
Read more about the benefits and use cases of all our Corporate Banking APIs on op.fi.