Payout Accounts Approvals from Merchant Wallet
Now a wallet operator can allow or forbid payouts from a merchant’s wallet balance to a particular bank account. There may be various reasons for declining a merchant request to link a new payout account. In countries struggling with terrorism financing, this feature is necessary to reject accounts that are on a blacklist. Another example is where a wallet operator works only with selected partner banks, promotes their services among merchants and restricts payouts to these banks.
A wallet operator can review the merchant's existing payout accounts before approving or declining a new one
The new supported workflow consists of these steps:
A merchant clicks on “Add a new account” in the Way4 Merchant Portal interface and provides the account number to be used for new payouts.
The portal sends the request details to the Way4 Merchant Wallet back office.
The wallet operator can see the queue of requests in the merchant service workbench. When the responsible officer confirms or declines a request, the decision is immediately reflected in the Way4 Merchant Portal.
If an account was approved, the merchant can use it for an immediate payout or make it a default choice for future regular payouts.