Understanding Rounds & TopUps As A Merchant On Peerwallet

Understanding Rounds & TopUps As A Merchant On Peerwallet

 

 

On Peerwallet, Merchants are those who provide funding services for users, what this means is that when a user want to fund his or her account, they can only do that from the Market place, and from that Market place, only approved merchants would be listed.

Merchants would be able to list their own payment gateway and accept payment on whatever payment method at their own rate.  But, how do Merchants themselves get the balance?

 

There are two methods how Merchants can fund their account

1)     From Other Merchants: As an approved merchant who is running low on funds, you can simply just go to the Market place and buy from other Merchants.

2)     Merchant Rounds: Merchant rounds are how Peerwallet add to the total amount in supply and the value is determined quarterly. 

The Merchant rounds are for approved merchants only and this is done on a discounted pattern, the discount is also determined by the volume of demand and supply.

 

So how this actually works is this;

The movement of funds on the Market place is an actual value of a stable coin which is then transferred from users on Peerwallet. People actually hold the coin balance when they load their Peerwallet balance. So, instead of the whole Cryptocurrency management, Blockchain security and the rest, we created the Peerwallet platform where everything is done without you even downloading a wallet. Also with the platform, users are able to transfer from Fiat to Crypto or Crypto to Fiat without any extra effort.

Merchants are those who connect to Peerwallet and then provide the service for users who want to load their wallet.

 

 

 

Round Value Determinant:

The value of what amount would join the total circulation is determined by the following factors;

1)     How many transactions

2)     Total fees burnt

3)     Total users

4)     Marketing budget

5)     Additional partners & ambassadors.

These factors would determine how much would be available for the next round which would then be shared amongst the available merchants willing to place a bid for the round.

 

The Round Process:

From this link; https://peerwallet.com/map/merchant-topup When a new round is opened, Merchants would be able to place a bid for the amount they want to load. After placing the bid, you would be able to check your bid and also the total bids placed by other Merchants.

Once your bid has been approved, you can then deposit the amount, once the amount has been deposited, after the Round, the amount would be added to your peerwallet balance with the bonus.

 

Below are the procedures for creating a round. 

 

Click on Rounds & Topups.

 

 

 

 

 

 

Next Round: This is the code number for this round

 

 

 

Start Date: This is when the next round would start. Merchants are to place a bid before this date for approval.

  

 

 

 

End Date: This is when the round ends. Bids cannot be placed for the round when closed.

 

 

 

 

 

 

 

Book Amount: This is the amount you want to load. There are ranges of amount with the profit you will be making (the higher the amount of bid the higher the topup profit you get) e.g. using the example above, if you load $100, you get $120, if you load $50,000, you get $65,550 as topup funds.

 

 

 

Terms: These are the terms and conditions backing up your bid. Turn on the blue button to accept the terms and conditions, if these conditions are not accepted then your bid would not be completed.

 

  

 

Action: Click on the green box to place a bid.

 

 

 

After a bid has been placed a successful notification will pop up.

 

 

 

 

 

Your current topup booking is always shown after the green box.

 

 

 

From here, you would see your bid and all other bids made by other Merchants.

 

 

 

 

The total amount booked and the time of booking are shown here

 

 

 

 

If your bid has been approved, you have a given time to pay. You can lose your bid if you don't deposit the approved amount before the deadline stipulated for you. It is always advisable to deposit the approved amount before the deadline.