# Change history This page summarizes notable changes made to Payments Direct. This change history is arranged in order from the most recent change and it corresponds to the month and year the enhancements and fixed issues were made available. ### April 2026 details summary Click to expand #### v2026.04 **New Quote v3 endpoints** The quote endpoints have been updated to `/v3/quotes/*`. Key changes from the previous version: - `payoutCategory` and `destinationBlockchainNetwork` are no longer accepted in quote requests. - A new optional `paymentRail` field is available in quote requests. When specified, only quotes for the given payment rail are returned. When omitted, quotes for all supported rails are returned. - The fee breakdown in quote responses now includes a `paymentRail` field identifying the rail associated with each fee. For more information, see [Quotes](/products/payments-direct-2/v2026.04/introduction/concepts/quotes) and [Create a payment](/products/payments-direct-2/v2026.04/api-docs/developer-guides/create-a-payment). **Reduced data requirements for US ACH** Based on customer feedback, the following identity fields are no longer required when creating identity tokens for US ACH payments: - `registration`: no longer required for BUSINESS ORIGINATOR and BUSINESS BENEFICIARY identities - `identityDocuments`: no longer required for INDIVIDUAL BENEFICIARY identities For an updated list of required fields by corridor, use the [Payload Schema Utility](/products/payments-direct-2/v2026.04/api-docs/integration-resources/payload-schema-utility). **Corrected `GET /v2/ledger-transactions` response schema** The response schema for `GET /v2/ledger-transactions` was incorrectly defined as an array. It has been corrected to an object containing pagination metadata (`offset`, `pageSize`, `pageElements`, `total`) and a `statementTransactions` array. Customers using OpenAPI generators against a previous version of this spec may need to regenerate their client code. The `text/csv` response schema has also been corrected and now includes column documentation and an example row. **New payout corridor: Hong Kong (HKD)** HKD payouts to Hong Kong bank accounts are now available using the `HK_BANK_PAYOUT` financial instrument type. Payments are settled via CHATS (Clearing House Automated Transfer System) and processed on business days only. The `hkBankPayout` object requires the following fields: `bankName`, `accountNumber`, `accountHolderName`, and `swiftCode`. All HKD payments to Hong Kong also require the transaction-level fields `purposeCode` and `paymentMemo`. For more information, see [Financial instruments](/products/payments-direct-2/v2026.04/introduction/concepts/financial-instruments), [Asia-Pacific payout network](/products/payments-direct-2/v2026.04/introduction/payout-network/asia-pacific), and [Hong Kong transaction data requirements](/products/payments-direct-2/v2026.04/api-docs/integration-resources/apac/hk/hkd). **New payout corridors: China (CNY and USD)** CNY and USD payouts to China are now available via four new financial instrument types: - `CN_TRADE`: CNY payouts to Chinese business bank accounts. Requires `bankName`, `bankCode`, `branchName`, `branchProvince`, `branchCity`, `accountNumber`, and `accountHolderName`. Routes via CNAPS, SIB/IBPS, CUP, or NUCC. - `CN_INDIVIDUAL`: CNY payouts to Chinese individual bank accounts. Requires `bankName`, `bankCode`, and `accountNumber`. Routes via CUP (primary) or CNAPS. - `CN_INDIVIDUAL_TRADE`: CNY payouts to individual or sole-proprietor bank accounts. Requires `bankName`, `accountNumber`, and `accountHolderName`. Routes via CUP. - `CN_CFXPS`: USD payouts to Chinese bank accounts via CFXPS (China Foreign Exchange Payment System). Requires `bankName`, `swiftCode`, `accountNumber`, and `accountHolderName`. All China corridors require a `purposeCode` transaction-level field. For required identity fields by corridor, use the [Payload Schema Utility](/products/payments-direct-2/v2026.04/api-docs/integration-resources/payload-schema-utility). For more information, see [Financial instruments](/products/payments-direct-2/v2026.04/introduction/concepts/financial-instruments) and [China transaction data requirements](/products/payments-direct-2/v2026.04/api-docs/integration-resources/apac/cn). **New payout corridors: Crypto wallets** Stablecoin payouts to crypto exchange wallets are now available via three new financial instrument types: - `ETH_WALLET`: USDT, USDC, or RLUSD payouts to Ethereum wallet addresses. - `TRON_WALLET`: USDT payouts to Tron wallet addresses. - `SOL_WALLET`: USDC payouts to Solana wallet addresses. All three instrument types require a `walletAddress` and `cryptoInstitutionName`. Crypto payouts are processed 24/7. For more information, see [Financial instruments](/products/payments-direct-2/v2026.04/introduction/concepts/financial-instruments), [Payout network: Crypto](/products/payments-direct-2/v2026.04/introduction/payout-network/crypto), and [Digital assets](/products/payments-direct-2/v2026.04/api-docs/integration-resources/digital-assets). #### v2026.03 **New funding model: Just-in-time (JIT) funding** A new `payinCategory` value, `JIT_FUNDING`, is now available when creating quotes. JIT-funded payments enter a new `AWAITING_FUNDING` state after creation and proceed once funds are received in your Ripple ledger account before the `jitFundingExpiresAt` deadline. For more information, see [Funding model](/products/payments-direct-2/v2026.04/introduction/concepts/quotes#funding-model-payincategory) and [Payment lifecycle](/products/payments-direct-2/v2026.04/introduction/concepts/payment-lifecycle). **New payinCategory values: `PRE_FUNDING` and `CREDIT_FUNDING`** Two new `payinCategory` values are introduced as the preferred replacements for the deprecated values: - `PRE_FUNDING` replaces `FUNDED` - `CREDIT_FUNDING` replaces `T_PLUS_ONE` The deprecated values `FUNDED` and `T_PLUS_ONE` continue to be accepted on v2 quote endpoints and are not being removed at this time. New integrations should use the new values. **New payment state: `AWAITING_FUNDING`** A new non-terminal payment state, `AWAITING_FUNDING`, is introduced for JIT-funded payments. For more information, see [Payment lifecycle](/products/payments-direct-2/v2026.04/introduction/concepts/payment-lifecycle). **New payment response fields: `payoutExecutionDetails` and `jitFundingExpiresAt`** The `GET /v3/payments/{paymentId}` response now includes two new fields: - `payoutExecutionDetails` (optional): metadata about how a payment was executed, including `paymentRailUsed`, `payoutStartTime`, `payoutEndTime`, and `trackingReferences` (network-specific identifiers such as IMAD/OMAD for Fedwire). Coverage varies by corridor and partner. For more information, see [Payment execution details](/products/payments-direct-2/v2026.04/introduction/concepts/payment-execution-details). - `jitFundingExpiresAt`: present on JIT-funded payments; indicates the deadline by which funds must be transferred to your Ripple ledger account for the payment to proceed. **Renamed financial instrument type: `AFRICA_BANK_PAYOUT` is now `NG_BANK_PAYOUT`** The Africa bank payout financial instrument type has been renamed from `AFRICA_BANK_PAYOUT` to `NG_BANK_PAYOUT`. Update any integration code, identity `validatePayoutRails` arrays, or internal tooling that references the old value. For more information, see [Financial instruments](/products/payments-direct-2/v2026.04/introduction/concepts/financial-instruments). ### March 2026 details summary Click to expand **Documentation versioning: v2026.03 and v2025.11** The Payments Direct documentation is now versioned. Use the version selector to switch between versions: - **v2026.03** - Documents the Payments Direct API with **Identity Management v3**, including the v3 identity and financial instrument endpoints. - **v2025.11** - Documents the Payments Direct API with **Identity Management v2**. ### January 2026 details summary Click to expand **New API endpoint: `GET /v2/ledger-transactions`** Provides a paginated list of ledger transactions and running balances for a specified UTC time range, supporting customer reconciliation and operational reporting. For more information, see [Ledger transactions](/products/payments-direct-2/v2026.04/introduction/concepts/ledger-transactions). **New payment state: `RETURNED`** Payments that were previously marked as `COMPLETED` but later reversed by the payout partner or network are now marked as `RETURNED`. For more information, see [Payment lifecycle](/products/payments-direct-2/v2026.04/introduction/concepts/payment-lifecycle) and [Payment returns](/products/payments-direct-2/v2026.04/introduction/concepts/payment-returns). **Feature enhancement: Tax transparency** We have introduced a detailed tax breakdown structure to both **Quote** and **Payment** responses to support transparent reporting of tax liabilities and service fees. ### November 2025 details summary Click to expand **Enhancements and payout network expansions** - Released the Transaction Memo feature for EUR/GBP payouts - Payouts enabled: PHP, CN-USD, and INR ### October 2025 details summary Click to expand **Enhancements and payout network expansions** - Released the Transaction Memo feature for USD payouts - Payouts enabled: AED, AUD, CLP, COP, JPY, IDR, KRW, PEN, THB, and VND ### September 2025 details summary Click to expand **Enhancements** - Released FedWire payouts with Lead Bank - Released FX benchmark improvements to reduce price gaps with stablecoins ### August 2025 details summary Click to expand **Enhancements** - Released Maker/Checker feature in Payments Direct, enabling payment approval workflows - Released the OpenAPI specification for Payments Direct, available for download [here](https://github.com/ripple/payments-direct/blob/main/openapi_spec/rpd2_spec.yml). ### July 2025 details summary Click to expand **Enhancements** - Released off-ramp capabilities to deliver RLUSD ### June 2025 details summary Click to expand **Additional payout markets enabled** - RTP payouts enabled in the US - EUR/GBP payouts enabled ### May 2025 details summary Click to expand **Additional payout markets enabled** - Payouts enabled for BRL, CNY, GHS, NGN, RWF, ZAR, UGX, and ZMW ### April 2025 details summary Click to expand **Enhancements and network expansions** - ACH payouts enabled using iPayout - Payments Direct on-ramps launched for customers to send in stablecoins, beginning with USDC and USDT - Re-designed payment flow in Payments Direct to simplify and enhance the user experience ### March 2025 details summary Click to expand **Off-ramps Beta launched** Off-ramps beta launched for Payments Direct customers, allow customers to pay-in stablecoins in key payout markets ### February 2025 details summary Click to expand **Offical launch of Payments Direct** Payments Direct, allows you to connect to Ripple as a payments provider. Ripple takes care of delivering payments to beneficiaries, managing payout partners, providing funds to payout partners, and paying charges in exchange for payment delivery to the beneficiaries. With Payments Direct, you can send payments and manage beneficiaries using the Payments Direct UI.