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Wallet Accounts

Wallet Accounts serve as a holding account for receiving payments within your platform.

Each user has a wallet account by default, including platform administrators, which can also receive platform fees.

All payouts to a user in Zai first pass through their wallet account. By default, funds are automatically paid out to the user’s bank account following the batch payment schedule. Wallet accounts can also be used as a payment source if your platform workflow requires it.

Note: There are strict controls around wallet accounts. Contact Zai support to manually payout funds or to use wallet accounts as a funding source.

How Wallet Accounts work

Instant Payments

Funds in a wallet account can be used to pay for goods or services within your platform immediately.

Chained Payments

Wallet accounts can act as intermediate holding accounts in multi-step payment flows, such as group funding scenarios.

Bundled Payouts

Funds can be held in a wallet account until a user wants to withdraw, allowing users to accumulate a higher balance and reduce the number and cost of payouts.

Easy Funding

Wallet accounts can be funded via user deposits from bank accounts or from payments received from items sold.

Refunds

Refunds are returned instantly to the wallet account used as the payment source.

Processing Transactions

Payments from wallet accounts are processed immediately from existing funds. By default, balances are automatically paid out according to the batch schedule. Manual payout mode can be requested to hold funds indefinitely for further use.

Wallet Account Walkthrough

Depositing funds to a Wallet Account

Use Deposit Funds to add funds to a Wallet Account. Specify the source account and the amount (in cents). Available funding methods depend on your platform configuration.

Withdrawing funds from a Wallet Account

Use Withdraw Funds to move money from a wallet account to a Bank Account or BPAY account. The payout account must exist before initiating the withdrawal.

Displaying a Wallet Account balance

Use Show Wallet Account to display the wallet account balance and details.

Making Payment using a Wallet Account

A Wallet Account acts like a card or bank account. To make a payment, pass the wallet account ID to Make Payment, ensuring sufficient funds are available.