What are Payment Flows?

Fireblocks empowers you to leverage blockchains and digital rails for efficient, dependable, and predictable payments. The Payments feature in Fireblocks enables the creation of secure, dynamic payment flows that consist of various actions within a single solution.

Payment flows allow you to streamline and automate your payment transactions. By configuring and executing payments directly from the Payments page in the Fireblocks Console or via the Fireblocks API , you can manage various types of financial operations with ease and precision.

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Check out the Payment Flows Developer Guide here

How does it work?

The Payments API involves two resources.

• Workflow Configuration (WC): This resource acts as a template for your payment flow. It contains the types of operations and each operation’s schema of parameters. Each operation under a WC is referred to as a workflow configuration operation (WCO).
• Workflow Execution (WE): This resource allows you to validate, preview, and launch your payment flow based on a specific WC. Each operation within a WE is referred to as a workflow execution operation (WEO).

Generally, the payment workflow consists of the following three steps:

• Create a WC.
  • The WC completes the validation process and moves to READY_FOR_EXECUTION state.
• Create a WE based on the WC.
  • The WE completes the validation process and the preview process and moves to READY_FOR_LAUNCH state.
• Launch the WE.

The validation and preview processes are not instantaneous. Before continuing to the next step, the WC or WE should be in a ready state.

The validation process is required again when creating the WE because:

• Changes may have occurred during the time between creating a WC and creating a WE. For example, the account could have been removed from the workspace.
• New parameters may have been added when creating the WE and should be verified.