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:
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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.
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The portal sends the request details to the Way4 Merchant Wallet back office.
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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.