← Back to catalogue
Published

payment

vr.tr.payment · thing-payment

Let an agent describe payments by parties, amount, method, status and reference, and never execute a payment or transfer on anyone behalf.

Thing Registry Society, people and institutions SOC.ECO
Bundle → Layer → Finding → QuestionsClassifiersWhat it isWhy it existsDistinguishing featuresWhat robots and AI may and may not doMoral aspectsOwnersLinks to other meta-modelsIdentity and identifiersDirect propertiesRecognitionCapabilities and actionsHazards and failure modesStandards and interfacesContext of useSources

Bundle → Layer → Finding → Questions Filled

4 bundles · 8 layers · 8 findings · 16 questions

Parties and amount Who pays whom, how much.

Parties

Payer and payee.

Parties identified

Payer and payee and their accounts.

  1. Who is the payer and who the payee? definition
  2. Has the payee been verified, for example by name check? boundary

Amount and purpose

Sum, currency and reason.

Amount and purpose

The amount, currency and obligation.

  1. What amount and currency, for which obligation? measurement
  2. Which reference links it to the invoice or debt? provenance
Method How the payment moves.

Channel

Card, transfer, debit, cash.

Method used

The method and scheme.

  1. By which method and scheme is the payment made? definition
  2. What does it cost, and who pays the fees? measurement

Timing

Execution and settlement.

Timing

When it executes and settles.

  1. When will it arrive, and when is it final? measurement
  2. What cut-off times apply? boundary
Status and disputes Where it is and what if it goes wrong.

Status

Pending, completed, failed.

Current status

The status and its source.

  1. What is the current status of this payment, according to which system? provenance
  2. What does that status mean for the payee? definition

Disputes and reversal

Chargebacks and recalls.

Dispute rights

Rights to dispute or reverse.

  1. Can this payment be disputed or recalled, and within what time? boundary
  2. Who should the payer contact? action
Controls Authorisation, fraud and law.

Authorisation

Strong authentication.

Authorisation check

How the payer authorised it.

  1. How was this payment authorised? provenance
  2. Must the payer confirm it personally? action

Fraud and sanctions

Screening and red flags.

Screening

Fraud and sanctions checks.

  1. Does this payment show fraud red flags? boundary
  2. Which sanctions or reporting rules apply? boundary

Classifiers Filled

Family
Thing Registry
Category
Society, people and institutions
Entry kind
noun.possession
Plane
SOC
Domain
SOC.ECO
Facets: substance
social
Facets: origin
conceptual
Facets: agency
inert
Facets: mobility
not-applicable
Facets: scale
not-applicable
Facets: affordances
observable
Other names and narrower kinds
royalty, bounty, premium, bonus, incentive, dividend, sales incentive, allowance, adjustment, cost-of-living allowance, depreciation allowance, deduction

What it is Filled

A transfer of money or other value from a payer to a payee to discharge an obligation, and the sum so transferred.

Why it exists Filled

Let an agent describe payments by parties, amount, method, status and reference, and never execute a payment or transfer on anyone behalf.

Distinguishing features Filled

  • Discharges an obligation, which distinguishes it from a gift or a loan
  • Has a method with its own rules for timing, cost and reversal
  • Authorised by the payer
  • The same word covers the act and the amount

What robots and AI may and may not do Filled

Must not

  • Send, approve or release a payment without the payer's explicit authorization for that payment.
  • Change a payee's account details on the strength of an unverified message.
  • Split or structure payments to avoid controls or reporting rules.
  • Hide fees, exchange rates or charges from the payer.

Only with a human decision

  • Authorizing any payment or refund.
  • Adding or changing a payee.

May

  • Prepare a payment for a person to review, with payee, amount, currency and reference.
  • Check a payment against an invoice and flag mismatches, duplicates or unusual payees.
  • Report the status of a payment the user has authorized it to track.

Moral aspects Filled

  • A wrong or fraudulent payment is often unrecoverable, so the payer's informed consent is essential.
  • Late or failed payments can push people into penalties and debt.

Who is affected

  • Payers
  • Payees
  • Victims of payment fraud

Owners Filled

Steward

The payer who authorizes it and the payment service provider that executes it.

Master systems

  • Bank and payment service provider transaction records

Links to other meta-models Filled

parent

  • oewn-13296870-n - registry parent class

related

  • money - payments transfer money
  • invoice or debt - the obligation discharged
  • payment system - card schemes, SEPA, Faster Payments and others
  • transfer of funds between own accounts - no obligation is discharged

What else AI and robots need to interact with it Filled

Identity and identifiers required Filled

  • Vercy registry: vr.tr.payment
  • Open English WordNet: oewn-13299398-n
  • payment reference: end-to-end id links the payment to its purpose
  • IBAN: up to 34 characters identifies accounts, not payments
  • ISO 20022 message: pacs, pain, camt messages standard payment messages

Direct properties not applicable Not applicable

Not applicable

Plane SOC: no invented physical properties.

Recognition optional Filled

  • Amount, currency, date, payer, payee and reference
  • Status: pending, completed, failed, reversed
  • Types such as royalty, bonus, dividend or premium describe the reason, not the method
  • A receipt, bank statement line, invoice marked paid, or a confirmation in an app, carrying amount, date, parties and reference.

Capabilities and actions required Filled

  • initiate and authorise it, which only the payer may do
  • track it, through its status and reference
  • reverse or dispute it, under the rules of the method
  • reconcile it, against invoices and accounts

Hazards and failure modes required Filled

  • Authorised push payment fraud
  • Wrong payee or amount
  • Duplicate payments
  • Failed payments causing penalties

Standards and interfaces required Filled

  • EU Payment Services Directive (PSD2) and national equivalents
  • ISO 20022 financial messaging
  • Card scheme rules and chargeback procedures
  • Anti-money-laundering and sanctions law

Context of use required Filled

  • Settling debts and paying for goods, services, wages, taxes and benefits.
  • by method: cash, card, bank transfer, direct debit, cheque, e-money, instant payment
  • by purpose: wages, royalties, dividends, bonuses, premiums, taxes
  • by timing: one-off, recurring, instalment

Sources Filled

  1. Open English WordNet 2024, synset oewn-13299398-n - sense and gloss of the concept
  2. Wiktionary: payment - word senses and usage

Open questions

  • Should payment methods be separate entries?
  • How should payment status be represented for agents answering "has it been paid"?
  • How should payment purposes merged here, such as dividends and royalties, be split off?

Machine files

Card as JSON Specification Card backlog vercy.card/1

Provenance

thing registry research (pass 2) · unreviewed

Built from: models/things/publications/thing-payment/spec.json