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Transfers

Introduction​

A transfer is the movement of funds between two wallet accounts. Each transfer consists of two transactions.

  • TRANSFER_OUT - debit transaction for moving money from sender customer balance
  • TRANSFER_IN - credit transaction for moving money into the recipient customer's balance

There are three types of participants in a transfer:

  • Customer wallets - regular users onboarded on embedded wallets solution
  • Legal Entity wallets - wallets, that belong to legal entities
  • Merchant wallets - wallets belonging to the merchant

These types of participants are treated differently from a regulatory perspective but used the same way for performing transfers.

For performing a transfer you need the following parameters:

  • amount - the amount in minor units
  • currencyCode - currency of the amount
  • email or customerId of the recipient
  • deviceInfo - device profiling information

For successful transfer the following conditions must be met:

  • Customer should have enough balance in the requested currency
  • Recipient customer must exist in the system and must not be restricted

For more information check:

Currency conversion​

The transfer currency must always match the sender account currency. By default, the recipient account also must be in the same currency.

warning

Currency conversion is not explicitly enabled. For currency conversion during transfers, contact a Paysafe sales representative.

Merchant Fee collection​

(In Development)

A fee can be collected by the merchant for the transfer. The fee parameter is passed in minor units and is always collected in sending account currency.

Fees are collected in preconfigured merchant fee collection account in the corresponding fee currency.