Recipients

A payment recipient (also known as a beneficiary) is the person or business receiving a payment.

Recipient information tells Vitesse who should receive the payment and how the payment should be delivered.

Recipients can represent:

• Claimants
• Policyholders
• Suppliers
• Other businesses or individuals receiving funds

Recipient information

Each recipient contains information used to identify the recipient and route payments correctly.

Typical recipient information includes:

• Name
• Country
• Currency
• Payment details
• Recipient type
• References used for reconciliation and reporting

The exact payment details required depend on the destination country, currency, and payment method.

For example, payments may require:

• Sort code and account number
• ABA code and account number
• IBAN
• SWIFT/BIC details

Before a payment is processed, Vitesse validates the recipient information against the applicable payment and routing requirements for the selected payment route.

Recipient types

Recipients are either:

• Person – an individual recipient
• Business – a business or corporate recipient

The recipient type may affect the information required to process a payment.

Inline and stored recipients

Vitesse supports two approaches for managing recipient information.

Inline recipients

Recipient information is provided at the time a payment is created.

Inline recipients are typically used when the recipient is unlikely to receive future payments.

For Payee Choice, recipients provide their own payment details, which are gathered during the payment.

Stored recipients

Recipient information is stored within Vitesse and reused across multiple payments.

Stored recipients reduce repetitive data entry and help ensure recipient information remains consistent across transactions.

You can manage stored recipients through the Vitesse platform or APIs.