Understanding webhooks and how they can support your global business payments

If you’re running a global business and receive money from overseas, getting greater visibility over your incomings and outgoings is crucial. But what if you didn’t need to request updates, and they were just sent to you automatically? Welcome to webhooks as part of the Verto API. 

Webhooks are essentially notifications. To get technical, webhooks are user defined HTTP callbacks that are linked to web applications and are triggered by list of specified events. Once the event is triggered, it syncs the data and sends a real-time notification. As it’s part of our Verto API, this means, with the proper set up, it’s automated so the legwork is done for you. 

Webhooks in the real world

Let’s say you’re an e-commerce business operating in Egypt, and you sell shoes across the world. This involves a daily cycle of sending and receiving payments as well as exchanging money so you can pay and receive in local currencies. You accept foreign payments, you need to send funds locally, and you need to convert quickly. Our Verto API will send webhooks – notifications – if certain events are triggered. 

These include:

• When a payment is completed

• When an outward FX order is completed

• When a payment is refunded

• When you receive a payment into your wallet

• When a beneficiary gets approved or rejected 

These are all essential updates to making sure your business runs smoothly, and any problems are addressed promptly. Our software is communicating better with itself, so in turn, we can communicate better with you so you’re always aware of any updates to your payment journey. You need to know that you have successfully paid your supplier, or that your newest shoe range has been purchased by customers in Canada, or that your euros have been converted to rand. It keeps you in the know.