Getting Started

An access token for the user will be generated in case of the successful authorization. | Fetch the detailed, tradeable rate quote to convert money from one currency to another. | Book a trade against the received quote. The Beneficiary ID or the Account ID needs to be given to submit the trade with payments. |
Get the list of trades booked by the authorized customer. | Get the list of valid purpose of payments to be used in trades. | Add single or multiple Payments to your existing Trade. |
Use a single call to fetch quote, submit trade and post the payments. | Get the list of payments made by the authorized customer. | Get the list of accounts of the authorized customer. |
Get the comprehensive information associated with a given customer account. | Create and manage internal transfer between two accounts of the authorized customer. | Create a new beneficiary for the authorized customer to be used in payments and fundings. |
Update the details of the existing beneficiary record. | Get the list of beneficiaries associated to the authorized customer. | Delete the beneficiary which is no longer required. |
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Overview
Nova Rails offers a variety of APIs that enable you to request real-time foreign exchange rates and then book trades and submit payments with those rates. You can also create beneficiaries and accounts against the authorized customers and manage transfers between them. By choosing and combining the components they need, developers can build a custom solution that suits their requirements.
Quote Request API
- Provide preliminary payment details (currency pair, amounts, value date, etc.) on call to Nova.
- Nova Rails responds back with a real-time FX rate based on the provided details and a quote identifier.
- Rates can be informational or executable dependent on client’s request.
- Executable rates are valid for 60 Seconds (This is configurable. You need to contact support to change the validity).
Trade Request API
- The RFQ API can be used to confirm you want to make a payment based off of the rate requested over the Quote Request API.
- Provide the quote identifier and payment details on the call to Nova.
- Nova responds back with a confirmation that a trade was booked to facilitate a future payment, and an id to identify the trade.
- Provide trade id upon payment submission to settle the trade.
Payment Submissions API
- Create payments against the existing trade.
- Fetch Quote, Submit Trade and Post Payments in a single call if there is no existing trade.
- Create Single and Multiple payments. Full payments and Partial payments both also supported.
- Retrieve the records from the payment inventory. This can be particularly useful for businesses aiming to review their transactions, auditors conducting financial checks, or developers building custom reporting tools.
Accounts Mangement API
- The Account API of Nova Rails provides endpoints that allow you to interact with bank accounts and customer's internal accounts.
- This API has been carefully designed with a focus on security and privacy. All data is retrieved over a secure connection, and sensitive account. information is always encrypted.
- Allows you to create and manage transfers between different accounts. This function is crucial for applications that require immediate or scheduled fund transfers, such as banking apps, accounting software, e-commerce platforms, or any financial systems.
Beneficiary Management API
- Create a standardized wire template to process the outgoing and incoming funds.
- Support the management of wire transfers within your application.
- Extensive functionality for tailoring wire templates to suit your unique needs.
- Retrieve essentials details of the beneficiaries present in the system.
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Base URL
Sandbox:
https://api-sandbox.novarails.com/
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Authorization
The Authorization section of the Nova Rails API documentation refers to authentication, a critical component that secures access to your application's resources. This section, specifically, details the methods and processes necessary to establish secure, authenticated connections between your application and the Nova Rails API.
Authentication not only safeguards your application's resources from unauthorized access but also provides control over the extent of access. This facilitates different levels of user permissions and access rights, allowing for a tailored application experience for each user.
This part of the API documentation is especially crucial for developers and system administrators who need to understand how to implement secure connections within their application's architecture. However, it's also valuable for non-technical roles who require insight into the security protocols that protect the data and resources within their software solutions.
One of the primary use-cases of this API is during a user sign-in attempt where it is crucial to validate the user's credentials. Upon successful validation, the system generates a unique token that is used for authorization throughout the session. This token must be included in each subsequent request to ensure that the user remains authenticated. This authorization helps prevent unauthorized access to sensitive information and capabilities, therefore defending the system from malicious activities.
Quote
The Rate section of the Nova Rails API is a robust and highly useful functionality designed to retrieve essential rating information for any given product or service within the Nova Rails system. It plays a critical role in facilitating and enhancing user interaction with products or services, as it provides a comprehensive and detailed overview of the rating data.
This powerful API endpoint is primarily leveraged to fetch the rating's quantitative score, reviewers’ comments, and other related data elements from the Nova Rails database directly. This can be particularly useful in scenarios such as gathering user feedback for analysis, displaying ratings on the user interface, or refining search results based on rating statistics.
The Rate API endpoint is also designed to handle multiple use cases. For instance, it can be used by developers to extract all ratings for a specific product or service, to track rating trends over time, or to evaluate overall customer satisfaction levels. Non-technical roles might employ the API to gather market research data, conduct competitive analysis, or understand customer preferences better.
One of the standout features of the Rate section is its flexible nature. It can efficiently handle large volumes of data and can be tailored to fetch ratings data according to specific parameters such as date ranges, product categories, or geographical locations for a more targeted analysis.
Finally, please note that while the Rate API is generally straightforward to use, it is crucial to ensure the API requests are correctly formatted for successful data retrieval. We recommend thoroughly reading through the provided examples in our documentation to understand how to effectively use this API endpoint in your application.
Trade
The “Trade” section in the Nova Rails API documentation provides the essential functionality for interacting with the deals in your application's database. It allows you to retrieve information about a specific deal or a list of deals, based on certain criteria that you specify. This is particularly useful for situations where you need to display deal information on your application, assess the performance of specific deals, or collate data for reporting purposes.
The API is designed with flexibility in mind, so you can easily integrate it into your existing application structure and business processes. It facilitates operations such as fetching a single deal through its unique identifier or retrieving a list of deals that meet certain conditions. This can be especially beneficial in scenarios like analyzing deal trends or generating deal-based reports and analytics.
In addition to the basic retrieval functions, the "Trade" API provides advanced features to enhance your interactions with deal data. It handles sorting and filtering, allowing you to easily customize your deal queries based on your specific requirements.
While this API is powerful and versatile, its usage is straightforward. It is designed not only for technical developers but also for non-technical roles who might need to access deal data for business analysis or decision-making purposes.
In terms of security, the API adheres to industry best practices to ensure the privacy and integrity of the data accessed and transferred. Note that to use this API, you would require appropriate authorization credentials.
Payment
The Payment section of the Nova Rails API is designed to facilitate all your transactional needs. With this API, you will be able to handle a wide array of payment-related functions, be it processing payments, scheduling recurring charges, or refunding transactions, in a seamless manner, thereby enhancing your application's financial operations.
One of the key functionalities of this API is its ability to process payments. It allows your application to accept, process, and manage payments from various credit and debit cards, digital wallets, bank transfers, and more. This makes it a versatile tool for businesses of all sizes and types.
A unique feature of this API is the ability to schedule recurring charges. Whether you're managing subscriptions, memberships, or any service with a recurring fee, the Payment API automatically handles the billing cycle with your specified parameters, thus relieving you from manual tracking and billing.
Another important function facilitated by this API is the refunding of transactions. If there's a need to issue a refund, the API can manage this process, ensuring a smooth transaction back to the customer's account.
Furthermore, the Payment API is designed with a focus on security. All transactions are encrypted using industry-standard protocols to protect sensitive data. Its inbuilt fraud detection and prevention mechanisms make it a reliable choice for handling your payment operations.
The API is also designed with simplicity in mind. It can be integrated into your current systems with minimal effort. Its robust functionality doesn’t compromise its ease of use, making it an excellent choice for both technical and non-technical users.
In conclusion, the Payment section of the Nova Rails API is a comprehensive solution for all your payment processing needs. Its versatility, automation features, security protocols, and easy integration make it an essential tool for modern-day businesses.
Account
The Account section of the Nova Rails API primarily focuses on providing access to a user's account details. It allows for the retrieval of essential account information, which includes but is not limited to the user's personal details, account status, and the date the account was created.
This part of the API is crucial across a variety of use-cases. For example, it is often utilized in support settings where it's necessary to pull up a user's account details quickly. It's also used in user management scenarios, where a user's account details might need to be reviewed or confirmed.
A key feature of this API endpoint is its seamless integration capability. It allows any service or platform using the Nova Rails API to easily fetch the user's account data in a structured format, ready to be integrated into any workflow or system.
Finally, a unique consideration for the Account API section is its focus on data security. It ensures that only authorized individuals and systems can access user account details, thereby safeguarding user data. Strict authentication and authorization protocols are in place to ensure that access is limited to those with the appropriate permissions. This ensures that the API aligns with best practices in user privacy and data protection.
Beneficiary
The Beneficiary section of the Nova Rails API is a crucial resource designed to interact with the beneficiary data within your application. A 'beneficiary,' in this context, typically refers to an individual or entity that is eligible to receive benefits or profits through a particular transaction. Common use-cases would include financial transactions like transfers, payments, or any other financial operation where a beneficiary is involved.
This part of the API allows you to seamlessly fetch, manage, and update beneficiary information in your system. Through leveraging these endpoints, developers can conveniently handle beneficiary data to ensure up-to-date and accurate record-keeping, opening an avenue for cross-application synchronization and data integrity.
The Beneficiary section is not just limited to the retrieval of information but also extends to the modification of beneficiary details. This feature is particularly helpful when you need to reflect changes in a beneficiary's status or details in real-time, such as a change in their bank details, address, or contact information.
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Get BeneficiaryMetaDataRules
This API call allows you to retrieve wire meta data rules associated with the specified Entity ID, Country (Beneficiary, Beneficiary Bank and By Order Of) , and Currency.
The response will include the status of the request, any error codes or messages, as well as the wire meta data rules if the request is successful.
Please note that you need to include the appropriate headers, such as the authorization token and API key, in order to make a successful request. Additionally, make sure to provide the necessary body parameters, including the entity ID, country details, and currency details.
This API section is useful for retrieving the specific wire meta data rules required for integrating wire identifiers into your project.
Header Parameters
The header parameter requires the keyword 'Bearer' followed by a generated access token for secure requests.
This header parameter is used to input the uniquely generated API key in order to authenticate and authorize the user for the API request.
A header parameter that specifies the media type of the sent request body.
A header parameter specifying the media type that is acceptable for the response.
Body Parameters
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Response
Response Attributes
Indicates whether the request was processed successfully or not.
Returns the response data if the request was processed successfully, i.e., if the status is true
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Response Attributes
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What made this section unhelpful for you?
Response
{
"status": true,
"data": [
{
"rule_id": 2000,
"rule_name": "CNY CNAPS",
"regex": "N/A",
"type_id": 697,
"field": 2,
"country_id": 58,
"country_name": "CHINA",
"entity_datatype": 1,
"entity_datatype_value": "Mandatory",
"field_value": "Beneficiary Bank Country"
}
]
}
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Create Beneficiary
The Nova Rails API's Post Beneficiary endpoint provides an endpoint that enables the creation of a wire template record, a key function that supports the management of wire transfers within your application. This functionality proves beneficial in cases where you need to set up a standardized template for outgoing or incoming wires to a particular beneficiary, thereby improving efficiency and reducing the possibility of errors in repeated transactions.
The API takes in a wealth of information about the beneficiary, including personal details, contact information, bank details, and instructions for the wire transaction. It also accommodates data on intermediary banks and any further credit requirements, offering a great depth of flexibility and adaptability to suit various use-cases.
Notably, this endpoint also has built-in compliance status features, allowing you to incorporate regulatory checks into the process of creating a beneficiary template. Special fields can be enabled for individual beneficiaries, catering to specific requirements of different jurisdictions or banking institutions.
The endpoint also supports the specification of various additional fields, allowing you to customize the template according to your unique business requirements. For instance, you can specify whether the beneficiary is a resident, the type of the wire template (outgoing or incoming), and whether the beneficiary is an individual or an organization.
By using this endpoint to create a beneficiary's template record, you can streamline your wire transfer processes, ensure compliance, and improve the overall efficiency of your financial operations.
Header Parameters
The header parameter requires the keyword 'Bearer' followed by a generated access token for secure requests.
This header parameter is used to input the uniquely generated API key in order to authenticate and authorize the user for the API request.
A header parameter that specifies the media type of the sent request body.
A header parameter specifying the media type that is acceptable for the response.
Body Parameters
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Response
Response Attributes
Indicates whether the request was processed successfully or not.
Returns the response data if the request was processed successfully, i.e., if the status is true
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Response Attributes
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Response
{
"status": true,
"data": {
"record_id": 18039
}
}
Update Beneficiary
The Nova Rails API's endpoint PUT Beneficiary provides a method for updating existing wire template records. This method offers extensive functionality for tailoring wire templates to suit your unique needs.
Specifically, it allows you to tweak a variety of beneficiary details, including names, address information, contact details, and account specifics. You can specify whether the beneficiary is a third party or a resident. Furthermore, changes can be made to the payment details, such as currency type, account codes, and specific instructions for the beneficiary.
This method is not just confined to adjusting beneficiary details; it also supports alterations to the associated bank details. For instance, you can modify the name, address, and routing codes of the beneficiary's bank, as well as of any intermediary banks involved in the wire transfer.
In addition, the API provides the capability to update further credit details and by-order-of details, giving you full control over all aspects of your wire templates. This flexibility allows you to adapt wire templates to a wide range of contexts and use cases.
The method also integrates compliance checks and allows you to adjust the compliance status of the wire template. To further enhance your control, it provides an option to specify the purpose of payment, whether the beneficiary is an individual client, and the desired execution date.
In summary, whether you need to adjust basic beneficiary details or delve into more complex changes involving banks and compliance status, this Nova Rails API method makes updating wire templates a seamless and straightforward process.
Header Parameters
The header parameter requires the keyword 'Bearer' followed by a generated access token for secure requests.
A header parameter that specifies the media type of the sent request body.
A header parameter specifying the media type that is acceptable for the response.
This header parameter is used to input the uniquely generated API key in order to authenticate and authorize the user for the API request.
Body Parameters
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Response
Response Attributes
Indicates the success or failure status of the request.
Contains the output response data if the status of the request is true.
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Response Attributes
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Response
{
"status": true,
"data": {
"record_id": 18039
}
}
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Get Beneficiary
The Nova Rails API's Get Beneficiary endpoint is designed to retrieve the details of the given beneficiary. Utilized predominantly within payment processing, transfer routing, and data verification systems, this endpoint provides essential details about beneficiaries, helping users get the relevant information about the assigned beneficiaries.
Essentially, the Get Beneficiary endpoint is not just a simple retrieval function - it is a powerful tool that enables you to extract, filter, sort, and manage beneficiary information with ease and precision.
Header Parameters
The header parameter requires the keyword 'Bearer' followed by a generated access token for secure requests.
This header parameter is used to input the uniquely generated API key in order to authenticate and authorize the user for the API request.
A header parameter that specifies the media type of the sent request body.
A header parameter specifying the media type that is acceptable for the response.
Query Parameters
The unique Id of the beneficiary against which the details will be fetched.
Response
Response Attributes
This parameter indicates the status of the response.
This parameter contains the response data if the request was processed successfully.
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Response Attributes
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What made this section unhelpful for you?
Response
{
"status": true,
"data": {
"beneficiary": [
{
"beneficiary_id": 17911,
"beneficiary_name": "Demo Wire",
"internal_reference": "Demo Wire -CAD- Swift",
"beneficiary_currency_id": 137,
"beneficiary_currency_code": "CAD",
"beneficiary_accountnumber": "0012356",
"beneficiary_address1": "ABC Street",
"beneficiary_address2": "XYZ Square",
"beneficiary_city": "Toronto",
"beneficiary_province": "Ontario",
"beneficiary_country": 76,
"beneficiary_postcode": "75500",
"beneficiary_instructions": "beneficiary instructions",
"beneficiary_isindividual": true,
"beneficiary_email": "demo@gmail.com",
"routing_type": 1,
"routing_code": "CHASUS33",
"routing_bankcode": "XXX",
"bank_name": "BEAR STEARNS INTERNATIONAL TRADING LTD.",
"bank_address1": "25 BANK STREET",
"bank_address2": "CANARY WHARF",
"bank_city": "LONDON",
"bank_provience": "GREATER LONDON",
"bank_country": 9,
"bank_postalcode": "E14 5JP",
"intermediary_routingtype": 9,
"intermediary_routingcode": "09998777",
"intermediary_routingbankcode": "121313",
"intermediary_bank_name": "interbank1_name",
"intermediary_bank_address1": "interbank1_address1",
"intermediary_bank_address2": "interbank1_address2",
"intermediary_bank_city": "Toronto",
"intermediary_bank_province": "Ontario",
"intermediary_bank_country": 76,
"intermediary_bank_postcode": "333",
"byorderof_client": 4675,
"byorderof_name": "byorderof_name",
"byorderof_address1": "byorderof_address1",
"byorderof_address2": "byorderof_address2",
"byorderof_city": "Toronto",
"byorderof_province": "Ontario",
"byorderof_country": 76,
"byorderof_postcode": "754600",
"is_approved": true,
"purpose_of_payment_id": 161,
"purpose_of_payment_details": "Other",
"beneficiary_dob": "1993-03-03T00:00:00",
"byorderof_accountno": "12334"
}
]
}
}
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Delete Beneficiary
The Nova Rails API's Delete Beneficiary endpoint provides a method to delete a specific wire template record. This function is primarily used when there is a need to eliminate previously set wire template records, such as in cases of data clean-up or information updates.
The given wire template record is identified and deleted based on the beneficiary_id that is inputted into the system. This makes this method extremely precise in its operations, ensuring that only the specified record gets deleted from the database.
In summary, this method within the Nova Rails API allows for direct and secure deletion of wire template records, offering a robust response system for both successful operations and error situations. Its features are designed to streamline the process of data maintenance and ensure optimal application performance.
Header Parameters
This header parameter is used to input the uniquely generated API key in order to authenticate and authorize the user for the API request.
This header parameter is used to input the uniquely generated API key in order to authenticate and authorize the user for the API request.
A header parameter that specifies the media type of the sent request body.
A header parameter specifying the media type that is acceptable for the response.
Query Parameters
The unique Id of the beneficiary to be deleted
Response
Response Attributes
Indicates the overall success or failure status of the request.
Contains the output response data if the request is successful
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Response Attributes
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Response
{
"status": true,
"data": {
"record_id": 17885
}
}
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Get Beneficiaries
The Get Beneficiaries endpoint in the Nova Rails API is designed to facilitate the retrieval of beneficiary information. A 'beneficiary' in this context, refers to an individual or entity that is eligible to receive distributions from a trust, will, or life insurance policy. This endpoint is primarily used whenever there's a need to access these details in your application.
The endpoint supports a wide array of filters to help you specify the exact data you want to retrieve. For example, you can use comparison operators like 'Equal to', 'Not Equal to', 'Greater Than', 'Less Than', and others to set conditions on the data you're fetching. Logical operators such as 'AND', and 'OR' can be used to combine these conditions, allowing you to create sophisticated queries. You can also group your conditions using parentheses.
Moreover, the endpoint supports sorting the output results in ascending or descending order. This functionality can be beneficial when dealing with a large number of beneficiaries and helps in organizing the data more effectively.
This endpoint has been designed keeping in mind both ease of use and flexibility. The diverse filtering and sorting options make it extremely versatile and adaptable to various use-cases. However, please remember to provide the necessary authorization in the header section for a successful API request.
Header Parameters
The header parameter requires the keyword 'Bearer' followed by a generated access token for secure requests.
This header parameter is used to input the uniquely generated API key in order to authenticate and authorize the user for the API request.
A header parameter that specifies the media type of the sent request body.
A header parameter specifying the media type that is acceptable for the response.
Query Parameters
Enter the available operators with input parameters to filter the output: Comparison Operators: eq (Equal to), ne (Not Equal To), gt (Greater Than), ge (Greater than or Equal), lt (Less Then or Equal), notin (Not in), In, Like Logical Operators: AND, OR Grouping Operators: ().
Enter the sort clause (asc or desc) with input parameters to sort the output.
Response
Response Attributes
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Response Attributes
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What made this section unhelpful for you?
Response
{
"status": true,
"data": {
"beneficiary": [
{
"beneficiary_id": 18039,
"beneficiary_name": "Demo Beneficiary",
"internal_reference": "Demo Beneficiary -CNY- Swift",
"beneficiary_currency_id": 30,
"beneficiary_currency_code": "CNY",
"beneficiary_accountnumber": "0012356",
"beneficiary_address1": "Office # 234, Minsha Tower",
"beneficiary_address2": "Fuma Road",
"beneficiary_city": "Fuzhou",
"beneficiary_province": "Fujian",
"beneficiary_country": 58,
"beneficiary_postcode": "35000",
"beneficiary_isindividual": true,
"beneficiary_email": "demo@gmail.com",
"routing_type": 1,
"routing_code": "ABOCCNBJ",
"routing_bankcode": "002",
"bank_name": "THE AGRICULTURAL BANK OF CHINA",
"bank_address1": "JIN YU PLAZA",
"bank_city": "Beijing",
"bank_provience": "Beijing",
"bank_country": 58,
"bank_postalcode": "100037",
"intermediary_routingtype": 9,
"intermediary_routingcode": "09998777",
"intermediary_routingbankcode": "HJM",
"intermediary_bank_name": "THE AGRICULTURAL DEVELOPMENT BANK OF CHINA",
"intermediary_bank_address1": "NO.800 CHANGAN WEST ROAD",
"intermediary_bank_city": "Jiamusi",
"intermediary_bank_province": "Heilongjiang",
"intermediary_bank_country": 58,
"intermediary_bank_postcode": "154004",
"byorderof_client": 4675,
"byorderof_name": "Demo Beneficiary",
"byorderof_address1": "Office # 234, Minsha Tower",
"byorderof_address2": "Fuma Road",
"byorderof_city": "Fuzhou",
"byorderof_province": "Fujian",
"byorderof_country": 58,
"byorderof_postcode": "35000",
"is_approved": true,
"purpose_of_payment_id": 161,
"purpose_of_payment_details": "Other",
"beneficiary_dob": "1993-03-03T00:00:00",
"byorderof_accountno": "0012356",
"status": 1,
"type": "Outgoing",
"type_id": 697
}
]
}
}