Schema

Source creates mandate. Customer owns bank account, which owns mandate, which owns ACH debit. Confirmed debits aggregate into ACH debit collection. Subscription automatically creates debit on a mandate, according to a schedule. Plans are templates to create sources. 

1. Customer owns bank account. Bank account owns mandate. Mandate owns payment.         

2. Subscription creates payments on a mandate, according to a predetermined schedule. The amount, frequency and start date must be known.

3. Plan is a template for creating mandates (known as independent mandates), or subscriptions with mandates (known as subscription mandates).

4. Settlement is the bulk pay-out from LotusPay to you of all payments received in a day.

It's important that you also understand mandate statuses.