Table of Contents
101: Introduction to Payments
The Trovata payment experience allows users to submit various payment types, establish fine-grained workflows for approval management, and utilize bulk & templated payments.
Overview & Benefits
Payments can be initiated through Trovata, which leverages bank APIs to send and process them through the banks directly (without the need for a third party intermediary).
Send payments securely with zero transaction fees to and from any bank /ERP.
Handle payments on-the-go with our mobile app.
Customize payment workflows, making them as fine-grained with the option to add stages for review and approval, with custom rules for added checks.
Track the payment from the minute it is sent over to the bank until completion.
Supported Connections
NOTE: Currently, international payments are only supported via JP Morgan and Bank of America.
Institution | Connection Type | Payment Support | Payment Types |
J.P. Morgan | API | Domestic & International (Australia, Canada, Czech Republic, Denmark, France, Germany, India, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Poland, Singapore, Spain, Switzerland, Sweden, UK, US) | Wire, ACH, RTP, Transfers |
Bank of America | API | Domestic & International | Wire, ACH, RTP, Transfers |
Wells Fargo | API | Domestic | Wire, ACH, RTP, Transfers |
SVB | API | Domestic | Wire, ACH, RTP, Transfers |
PNC | API | Domestic | Wire, ACH, RTP, Transfers |
US Bank | API | Domestic | Wire, ACH, RTP, Transfers |
HSBC | API | Domestic & International (Australia) | Wire |
Citi | API | Domestic | Wire |
Payment Permission Settings
Users can configure user permissions within User Groups. Only the Admin(s) or the Account Owner can update user permissions. For a full guide on Users, User Groups, and Entitlements, click here.
Payments User Roles/Tasks
Initiator: The user who creates the payment.
Reviewer (Optional): Second level of payment approval.
Approver (Optional): The user who is entitled to approve one or more workflow stages. Preparer, Reviewer, Approver, and Releaser are four types of “Approvers” that can be applied to any user profile. Third level of payment approval.
Releaser: Final level of payment approval.
NOTE: Payment Admin/User permissions are set in the Entitlements section of Settings
Dual Admins → Dual Approvals
Dual approvals are automatically enforced when the payments app has two or more admins listed in the users section
All admins receive both an email and an in-app notification at the top of the Payments page when a standard approval (and dual approval) process starts
Admin Tasks
Create, modify, and delete payment templates
Create, modify, and delete workflows
Create, modify, and delete users
Modify account details
Payment Dashboard
The Payments Dashboard shows users a list of all of the payments that have been initiated through Trovata.
Each Payment Record in this section will have a name, initiation date, origin account “From”, beneficiary account “To”, amount, payment type and status. Some of the statuses you will see are Trovata-specific and the other statuses are based on information from the banks.
NOTE: See table below for payment status descriptions.
Payment Status | Description | Available Actions |
Open | Payment has been created and is being routed through the approval workflow (assigned at the account level) | Approve, Reject, Cancel |
Canceled | Payment has been canceled by the payment initiator | N/A |
Rejected | Payment has been rejected by an approver | N/A |
Approved | All required approvals are complete. The initiator of the payment can submit the funds for processing | Submit, Cancel |
Processing | Payment is being sent to the bank (Only in this state for a few seconds) | N/A |
Submitted | Payment has been successfully sent to the bank | N/A |
Failed | Payment has failed submitting to bank | N/A |
Pending | Payment awaiting processing (off hours) | N/A |
Rejected by Bank | Payment has been rejected by the institution | N/A |
Completed | Payment has been completed and funds have moved | N/A |
Initiating Payments (3 Types)
On the right side of the Payments Dashboard, click blue “New Payment" button. There are three options to choose from including: manual, template, or bulk.
Manual Payments
Sending a manual payment flow is very straightforward, and likely will be very similar to what users experience when sending a payment in their bank portal. Here’s the process of sending a manual payment:
Select the account that you want the money to come out of.
Select your payment type, whether it’s ACH, Wire, Real-Time Payments (RTP), or Transfer.
Input all of the beneficiary’s information.
Enter the payment amount.
Name the payment and enter in any remittance details.
Select the value date (Upon Release or Scheduled Date).
Review and submit the payment.
NOTE: Users can choose to send the payment upon release, which is immediate, or they can schedule it to send in the future.
Once you submit this payment, whichever workflow is tied to the account that the payment was disbursed from, will be triggered (which we will go over in the next step).
Template Payments
To make a payment from a template, the process is very similar.
Select a template.
Select the account that you want the money to come out of.
Confirm your payment type, whether it’s ACH, Wire, Real-Time Payments (RTP), or Transfer (this may be pre-populated).
Confirm the beneficiary’s information (this will be pre-populated).
Enter the payment amount.
Name the payment and enter in any remittance details.
Select the value date (Upon Release or Scheduled Date).
Review and submit the payment.
Bulk Payments
Bulk payment processing allows users to initiate and approve multiple payments at once. To use bulk payments, users must upload spreadsheets in the CSV format provided by Trovata. Bulk payments support ACH, Wires, and Transfers. This article outlines the requirements for each payment type and explains how they should be formatted within the file.
Bulk Payments vs. Batch Payments:
Bulk Payments are submitted individually, can span multiple banks and payment types, and are processed independently. This means a failed payment does not impact the others, allowing successful payments to go through without resubmission.
Batch Payments on the other hand are submitted together to a single bank. If one payment fails, the entire batch fails, requiring teams to un-batch and resubmit every payment.
Before using Bulk Payments in Trovata, the following three requirements must be met:
The Payments Module must be activated with onboarded bank accounts. The account number and routing number combination (or BIC/IBAN) will be required to identify which account to initiate payments from. You can verify these accounts and their associated identifiers in the Accounts section of the Payments Module.
NOTE: The exact formatting of account numbers (including leading zeroes). These are listed in the format required by the associated bank.
A Bulk Workflow must be established. A Bulk Workflow defines who is responsible for initiating, reviewing, approving, and releasing payments.
NOTE: A standard workflow will not be utilized when using Bulk Payments.
For a Trovata Bulk Payment Template, please download our sample here. Do not modify the column headers. Only append rows detailing the payments you wish to initiate.
Formatting Requirements
You can find accepted account identifiers in the Accounts section of the Payments Module. These identifiers include:
Account Number + Routing Number – Commonly used for domestic payments.
Account Number + BIC – Typically used for international payments.
IBAN + BIC – Standard format for international payments. Currently only available for Transfers at this time.
*Required for Wells Fargo Payments
CSV Column | Required | Format | Example | Notes |
Name | N | Free text | First Bulk Payment | When empty an autogenerated timestamp will be provided as the payment name |
Payment Type | Y | “ACH”, “Wire”, or “Transfer” | “ACH”, “Wire”, or “Transfer” |
|
Account Number | Y* | Free text | 0019230129 |
|
Routing Number | Y* | Free text | 21000021 |
|
BIC | Y* | Free text | CHASGB2L |
|
IBAN | Y* | Free text | GB63CHAS60161331926819 |
|
Amount | Y | Decimal | 1023.12 |
|
Currency | N | Currency Identifier | USD | Currency is not required. If empty, it will utilize the same currency as the source account listed above. |
Value Date | N | MM/DD/YYYY | 11/23/2024 | All value dates must be identical per batch. Please split into separate batches for different dates. |
Remittance | N | Free text | Inv 1234 and 12345 |
|
Beneficiary Name | Y | Free text |
| On account transfers Beneficiary Name is not required. The Beneficiary Name will be pulled from the company name of your onboarded account |
Beneficiary Account Number | Y* | Free text | 0019230129 |
|
Beneficiary Routing Number | Y* | Free text | 21000021 |
|
Beneficiary BIC | Y* | Free text | CHASGB2L | Only for use in Transfers |
Beneficiary IBAN | Y* | Free text | GB63CHAS60161331926819 | Only for use in Transfers |
Beneficiary Address Line One | N** | Free text | 1 Loop Blvd. |
|
Beneficiary Address Line Two | N | Free text | Unit 432 |
|
Beneficiary Address City | N** | Free text | Cupertino |
|
Beneficiary Address State | N** | Free text | CA |
|
Beneficiary Address Zip | N | Free text | 39102 |
|
Beneficiary Bank Address Line One | N** | Free text | 700 May St. |
|
Beneficiary Bank Address Line Two | N | Free text | Office 931 |
|
Beneficiary Bank Address City | N** | Free text | Incline Village |
|
Beneficiary Bank Address State | N** | Free text | NV |
|
Beneficiary Bank Address Zip | N** | Free text | 89451 |
|
301: Payment Workflows & Template Management
Payment workflows and templates in Trovata help teams streamline and standardize how payments are created and approved. Templates reduce manual effort and errors by reusing predefined payment details, while workflows ensure the right approvals happen automatically and consistently. Together, they improve efficiency, strengthen controls, and make the payment process faster and more reliable.
Creating Payment Workflows
Payment Workflows enable users with fine-grained control over their payments processes.
From within the Workflows tab, click the blue "New Workflow" button.
Name the Workflow.
Add bank account(s). This means, anytime a payment is being submitted from those specific accounts, this workflow will be triggered because it’s tied to those accounts.
NOTE: Users can have multiple accounts attached to a single workflow, but you cannot have the same account attached to two different workflows.
Optional — Workflow Settings: Unique Approver can be toggled on or off.
Input the users that should be able to initiate the payment.
Optional — Approve Own: Allow users to approve payments they initiated in this workflow.
Optional — Maximum Payment Amount: Set a maximum payment amount.
Optional: Add review and approve steps to the workflow and determine the roles for each. These steps can also have customizable rules. For example, if a payment is greater than $1,000 then the approver can only be Jane Doe.
Finally, input who can release the payment.
Confirm your workflow, then hit save.
Creating Payment Templates
Payment Templates allow users to save a preset of beneficiary information to expedite the payment workflow process.
From within the Templates tab, click the blue "New Template" button.
Name the template.
Choose the specific payment type (i.e. ACH, RTP, or Wire).
Add the beneficiary information.
Confirm and save the template.
FAQs
1). Who can create or modify templates, workflows, and/or account details?
Admins are the only users who can create or modify templates, workflows and/or account details. Approval by another admin is only required if your Trovata Payments instance has more than one admin.
2). Which users can initiate a payment?
Only users set up as "Initiators" on various Workflows can set up a payment.