THE PREMIUM GATEWAY & HOW IT WORKS ON PEERWALLET
If you sell on Peerwallet often, you would notice that the customer would need to do some confirmations before proceeding to the final gateway based on the selection. Over time, sellers have requested a shorter process.
So in reality, Peerwallet is not a standalone gateway, it's a P2P payment gateway that connects to several other gateways for payment, so when an approved merchant has been approved to integrate, the merchant then integrates into Peerwallet and sets limits to how the gateway should be used and which customer or type of sellers can use it. The customers paying would need to confirm how much they are paying, and the final fees, auto-create an account, and then checkout.
Premium gateways mean, the seller wishes the customer to skip all of those steps and just proceed to the final checkout page, to enable this, the seller would need to configure this and set up some security deposits to make this happen.
Why do we require a security deposit for this?
Because of the nature of this process, sellers would need to have some security assets with Peerwallet, the amount varies and can be seen from the seller configuration page.
Which Payment Option Shows?
Since traditionally on Peerwallet, the customer would need to select among several payment methods at checkout, then which payment method is shown for premium gateways? From the seller's configuration page, you would be able to select which payment method you want to be shown from the Preferred Payment Method option.
If you select here for example; PayPal,Squad at checkout the system would locate which payment method has the lowest rate amongst the merchants and then it would serve the customer this particular gateway. If you want your customers to see just one particular gateway, then you should set this as just your preferred payment gateway option. The disadvantage here is that, when all of such offers are no longer active, your customer would see no payment option at checkout
