The Repayment APIs between LSP and Lenders have been standardized. The basic expectations from the APIs are the below
When the lender returns an offer, a list of repayment plans should be provided which include the details about the schedule/when the repayments can be made.
The Borrower chooses a repayment plan upon which setRepaymentPlanRequest is called. The lender returns a payment page url as part of the response to setRepaymentPlan. This url will be loaded by the LSP inside the app which would show the kinds of payment methods that the lender supports for the chosen repayment plan.
The Borrower can choose a method on the payment page provided by the lender. In case of BHIM for lending, this will be a one-time e-mandate which the borrower can initiate by entering his vpa details. Post this, the lender will trigger a request to the PSP associated with the vpa for getting the authorization from the borrower. Post successful authorization, e-mandate becomes active and the repayment plan is also considered to be ACTIVE.
When the repayment is to be initiated, by an option other than e-mandate(not for BHIM for Lending), the user will be taken to the payment page from where he can choose a payment method and make the payment.