Concepts
Before you start integrating with the Acclaim API, it helps to understand the core ideas that shape how payments and money movement work in the platform. These concepts describe the objects you’ll work with and the ways they connect.
Wallets
A wallet is an account that can hold funds and send or receive money. Wallets are the foundation of how Acclaim tracks and moves value.
- You can create one or many wallets for operational needs. For example, a wallet for commissions or one for claims.
- Wallets always have a balance and a currency.
- You can transfer funds between wallets.
Settlement Accounts
A settlement account is an external bank or treasury account that connects your organization to the outside financial system.
- It can fund your wallets — pulling money into your Acclaim wallet so you can make payouts.
- It can withdraw from wallets — letting you return unused funds or move balances back to your main account.
- Each organization typically links one or more settlement accounts, depending on currency or operational needs.
Virtual Accounts
A Virtual Account is a unique, system-generated bank account number created in a specific country and currency for the purpose of sending funds into your Acclaim wallet.
Virtual accounts make it easier to fund wallets from an external bank account, partners, or insurers in their local markets. Each virtual account is tied to a single Acclaim wallet and reflects inbound transfers in real time once funds are received. Funds added via virtual accounts are available on a faster timeframe than funds added via a settlement account.
Payees
A payee is anyone you need to pay — agents, brokers, providers, or members.
- Payees store payment details securely, so you don’t have to handle sensitive banking information yourself.
- Each payee can have multiple payout methods (e.g., bank account, card, digital wallet).
Payouts
A payout moves funds from one of your wallets to a payee.
- Each payout has an amount, currency, and a destination (linked to a payee).
- Payouts can generate payout links, letting you send a secure payment link to the recipient for them to choose how they want to be paid.
Payout Batches
A payout batch is a group of payouts processed together.
- Useful for commissions or recurring disbursements.
- Batches let you track success and failure across many payments at once.
Webhooks
Webhooks notify your system about important events so you don’t have to poll the API.
- Examples:
payout.completed,payout.failed,wallet.balance_updated. - Webhooks are retried for 48 hours with exponential backoff if your endpoint is down.
How It All Fits Together
Think of it like this:
- Your organization has one or more wallets that are funded by settlement accounts or virtual accounts.
- You create payees for the people or entities you want to pay.
- You send payouts (individually or as a batch) from a wallet to those payees.
- You listen to webhooks to know what’s happening in real time — success, failure, and balance updates.
Updated 11 days ago
With the fundamentals covered, you’re ready to start integrating. The next guide walks you through sending your first payout and handling the events it generates.