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About Peerwallet
How It Works
Our Features
The Peerwallet platform provides a system that would accommodate all types of users with the features below;
Send and Recieve Money
With an email address or Peerwallet account number, users can easily send money and receivers can easily withdraw from the list of Approved Merchants on the platform.
Semi-Decentralized
Peerwallet is a Semi-Decentralized platform that gives the community more options to rule, manage and control compared to other payment systems
Plugins & API
Users can easily add payment plugins to their WordPress, Woocommerce, Prestashop, and Magento websites. Also,developers can integrate via API
Multiple Payment Methods
There are over 300 payment options which users can fund and withdraw from. This will enable users to pay easily with their most preferred payment option
Multi-Currencies
During registration, users can only select one primary currency but would be able to transact in more than 200 currencies easily without additional conversion fees.
Global Access
Registration to the Peerwallet platform is opened to users Globally. The access to Peerwallet for both users and Merchants is based on interest.
How Peerwallet Works
Peerwallet is a Global Finance Marketplace where everything is achieved on a person-to-person model. A person-to-person or a peer-to-peer payment system that makes it possible for anyone to receive, transfer & spend funds easily from anywhere and all from one place. Imagine a wallet where you can fund with Paypal, Mastercard, Visa, Local Bank Transfer, Venmo, Cash APP, Neteller, Wire, Paystack, Flutterwave, Stripe, PayU, Paytm, Skrill, Square, Payoneer, Alipay, and 250 more options! All together makes Peerwallet a global payment system that can be used by all and accepted by all.
Interestingly, sellers who integrate Peerwallet to accept payment from their website would be able to accept payment from existing Peerwallet users and non-existing users easily with any of the payment options available on the P2P market for automated invoice payment.
Illustration:
If you create a payment link or integrate Peerwallet to accept payment from your website, let's assume the bill to be paid is $200 and your customer is from Canada, at the checkout page, we would fetch which Merchant has integrated automated payment for people in Canada then this would be fetched out including the option to pay with Peerwallet balance..
There are already hundreds of payment methods that have been integrated by several Merchants on Peerwallet, the opportunities with a single Peerwallet account are unlimited as it can quickly solve how to accept global payments or how to send payments easily.
There Are3 Types of Account
Privileges On Peerwallet:
Merchants: They are verified & approved individuals or Companies who provide funding, withdrawals, and other services on the Marketplace.
Sellers: They are those who have integrated Peerwallet to accept payments from their website or sellers who are receiving payments without a website, either selling offline or whichever method.
Users: They are the everyday users of Peerwallet, people who pay online, spend, withdraw, and so on.
interestingly, one can be all at the same time, you can be a Merchant, Seller, and also a User; it requires just some additional verifications and commitments.
Funding & Withdrawals
There is a very unique way to fund and withdraw on Peerwallet. Peerwallet uses the Merchant system to accomplish the funding and the withdrawal process. Merchants can list which payment method they can offer, thereby increasing the number of funding and withdrawal options available.
This method is referred to as “Peer to Peer”. This is regarded as the most successful way to quickly move cash from one person to another other and Peerwallet has adopted this method for funding and withdrawals. During funding or withdrawals, the whole process is automatically Escrowed so that all parties would be fully protected. Escrow payments are quite secure and safe making sure that both parties are protected.
Illustration:
If a user wants to load wallet his/her Peerwallet worth EUR5,000, then he checks which Merchant offers funding in his local currency and preferred payment method, after identifying such merchant, he clicks to view the merchant's listing offer and terms. The next step is to initiate a trade and send funds to the Merchant, then Merchant confirms payment and then releases funds which go to the user’s Peerwallet wallet balance. In case of dispute and escalation for intervention, we shall duly verify all payments from all parties and decide to either release the funds to the user or cancel the trade. This method has been proven to be safe, reliable, and easy to use.
Funds Transfer
It's very easy to transfer funds on Peerwallet. Payments are received immediately and recipients can also withdraw anytime. It's free to send money on Peerwallet and it's available immediately after it has been sent to the user. There are no barriers to funds transfer, users can send payments to any user with any currency and any Country.
On your dashboard, you'll find two balances: one in USDT, representing stable currency, and the other in PWAT, stored as a token. While the USDT balance remains constant, the PWAT balance fluctuates based on the current token rate. You can easily track the total PWAT balance from your dashboard.
Low Fees
Currency Conversions on Peerwallet is free, the official conversion rates are used so that the main value for the product sold will remain the same even when converted. So, if a seller wants to receive 5EUR, this means that all users who are sending the funds will send them at the official exchange rate without any addition.
Merchant Security & Trust
Since the Peerwallet idea can only be accomplished with Merchants, in other to reduce risk and increase trust for the Peerwallet Marketplace, all Merchants must be verified & approved before they can offer funding, withdrawal & other services on Peerwallet.
Escrow System
Verification does not guarantee safety that’s why we also introduced the Escrow system each time a Merchant wants to transact with a user or vice versa. The security of both the Merchant and the User is extremely dear to us and we would do everything possible in making sure every transaction on Peerwallet is safe, secure, and easy to use. Funds on Peerwallet are final and irreversible and this is shown before and during transfers are made. Please read the terms and conditions for more information about this.
