Sending & Receiving Payments
Overview
On LiquidTrust, you can both send payments to counterparties and request payments from them.
When You Would Use This
- Send Payment when you owe money to a supplier, partner, or service provider.
- Request Payment when you are owed money and want to initiate the process from your side.
How It Works
Both actions are available from the Quick Actions on your dashboard or the Transactions page.
When you click Send Payment or Request Payment, you will be asked to choose a payment type:
- Simple Pay — a direct payment
- Protected Pay — a payment held in escrow
You then follow a three-step process to complete the payment creation:
- Payment — select the counterparty and enter the amount
- Details — add the purpose, reason, and optional invoice
- Review — confirm and submit
What Happens Next
- Send Payment: The counterparty receives an invitation to accept the payment.
- Request Payment: The counterparty receives a request and can choose to accept and fund the payment.
Notes
- You must have an active Business Contact connection with the counterparty before creating a payment.
- Both businesses must be verified to complete a transaction.