HOW TO CREATE A NEW WITHDRAWAL OFFER ON PEERWALLET
To be able to withdraw on Peerwallet, you need to fill out this. Peerwallet is a P2P system which means both funding and withdrawals are done via P2P. But, here when you set your withdrawal offer only Merchants with a high trust level can send you payments.
As a seller, you would set an automated payment method, what this means is that; You would be able to receive payments automatically by adding your integration keys.
For example; If you select Paypal as your withdrawal method, then you would also need to include your API keys for Paypal so that you would receive funds automatically and then Peerwallet can then deduct the funds from your Peerwallet account and then credit the recipient who has sent you Paypal funds.
Below are the steps to set up your withdrawal offer on Peerwallet.
STEP 1
STEP 2
Offer Type: The only option available here is WITHDRAW; only approved merchants can create FUNDING offers.
Currency If your default currency is INR for example, and you want your withdrawals in USD, you can set this, when funds are being sent to you, you would receive them in the currency you set here.
Payment Method is the mode of payment you want to integrate. There are two types of payment methods; manual and automated method. An Automated Payment system appears on the gateway with a double-check mark while The Manual Payment Method doesn't show on the gateway.
Manual Methods don't show the [AUTO] signs close to the name of the payment method; also, Manual Payment Methods would require a manual process of payment and confirmation.
You would be required to set your API keys for the automated payment method after you have created it, the keys are the required keys for the payment method, and since the system would be connecting to the payment gateway directly you would need to set these keys correctly.
Automated Payment Methods are already integrated into Peerwallet so that Merchants or Sellers can receive payment to this payment method automatically without having to confirm payment from a user.
Go Live: Turn this on when you want this active or off when you want to disable the offer.
FINAL STEP
Summary: You can create a maximum of 3 withdrawal offers, we encourage users to create multiple so that they can have multiple withdrawal options.
Some withdrawal options are faster than others based on volume and people using them, so when you have multiple offers you are sure of getting your withdrawals faster.
About Reversible Methods: Peerwallet is P2P, except you are a merchant who can sell your funds via the FUNDING offer type, there you can manually collect funds from users who want to fund and request additional KYC details and possibly accept payment in your preferred method pattern, you should understand the danger of setting reversible payment options for withdrawals.
