large_Payment API 103 Automating Invoices with Chimoney's AI Invoice Data Generator.png

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small_Payment API 103 Automating Invoices with Chimoney's AI Invoice Data Generator.png

thumbnail_Payment API 103 Automating Invoices with Chimoney's AI Invoice Data Generator.png

Payment API 103 Automating Invoices with Chimoney's AI Invoice Data Generator.png

## Introduction

Billing and monetization are key factors that can determine the business success of AI platforms. The challenge lies in finding a pricing model that is scalable, easy for customers to understand, and simple for engineers to implement. One standout model that has gained popularity in AI services and SaaS businesses is the credit-based system. This article will explain how to create a credit-based pricing system tailored for AI platforms and organizers, examining different approaches and showing how to build this system using [**Chimoney**](https://chimoney.io/).

A credit-based model offers flexibility and simplicity, making it suitable for various applications, including AI-driven SaaS, collaborative platforms with human and AI contributors, AI agent marketplaces, or products that charge based on task usage. This approach benefits both your company and your customers by providing a clear and manageable pricing structure.

_This guide includes detailed, practical examples to help you implement this system so let's dive in!_

___

## What Is a Credit-Based Pricing Model?
A credit-based pricing model allows users to pre-purchase units (credits) that they can use for various services or tasks on your platform. Unlike traditional pay-per-use models, this approach offers flexibility for users to buy credits in bulk, use them as needed, and manage costs more effectively. It also provides a clear, predictable revenue stream for businesses.

### Why Is It Ideal for AI Platforms?
AI platforms, whether for automation, data processing, or collaborative work, often perform tasks with variable complexity and cost. Charging per task directly can be complicated, as tasks might have different levels of AI involvement and resource consumption. 
With a credit-based model:

- Users know exactly how many credits a task costs before committing.
- Credits can be scaled to represent any unit of value, such as the complexity or type of AI service being used.
- Bulk credit purchases incentivize higher spending and user commitment.

___

### Options for Implementing a Credit-Based Model
Before diving into the specifics, let’s explore the different options for implementing a credit system:
1. **Native Accounting System:** Build your own internal system to track user credits.
- **Pros**: Full control over credit logic, expiration, and special features.
- **Cons**: Complex, time-consuming, and requires strict security measures.
2. **Third-Party Payment Processors:** Use systems like Stripe to handle payments and credit purchases.
 - **Pros**: Good for one-time credit purchases with seamless checkout experiences.
 - **Cons**: Might require custom tracking systems to manage credits after purchase.
3. **Chimoney for [Multi-Currency Wallet](https://chimoney.io/multi-currency-wallets/) and Credit Management:** Use Chimoney’s API to leverage multi-currency wallets and transaction metadata to manage credits securely.
- **Pros**: Simplifies the process, integrates with existing wallet infrastructure, and provides robust tracking and audit capabilities.
- **Cons**: Limited to Chimoney’s transaction and metadata management capabilities.

While a native system gives you full control, it comes with heavy development overhead. Third-party processors like Stripe are great for payment handling but fall short on integrated credit tracking. Chimoney strikes a balance by allowing you to handle credit purchases and tracking through its multi-currency wallet and metadata features.
___

## Step-by-Step Guide to Building a Credit-Based Pricing System with Chimoney

### Step 1: Understanding Chimoney’s Capabilities
Chimoney offers a [**powerful API**](https://chimoney.io/developers-api/) for managing wallets and multi-currency transactions, making it an excellent choice for building a credit-based system without heavy custom development. Here’s what you can use:

- **Wallets**: Each user can have a wallet to hold balances.
- **Transactions**: Securely handle deposits, withdrawals, and metadata.
- **Metadata**: Attach custom data to transactions for tracking credits.

_For more details, refer to the_ [_Chimoney API Documentation_](https://chimoney.readme.io/reference/introduction)

___
### Step 2: Setting Up User Wallets and Managing Credits

**1. Create a User Wallet**

Each user or business will need a Chimoney wallet for credit purchases. [**Chimoney’s Multicurrency Wallet**](https://chimoney.io/multi-currency-wallets/) allows users to hold value and transact in multiple currencies. Credits purchased by users will not be held as traditional currency but represented through transaction metadata.

**Code Example: Issue a Multi-currency Wallet**

_Checkout the Create Multi-currency Wallet endpoint on Chimoney API Docs_ [_here_](https://chimoney.readme.io/reference/post_v0-2-multicurrency-wallets-create)

![carbon (4).png](/uploads/carbon_4_464564334d.png)

**2. Purchase Credits:** 

Credits can be bought in two ways:
- **Directly Debit User Wallets**: Deduct USD balances and track the transaction via metadata.

- **Initiate a Payment Request**: Allow users to pay via cards, Interac, or Mobile Money, with the amount settling in your Chimoney account.


**Code Example: Initiate a Payment Request**

_Checkout the Initiate Payment Request endpoint on Chimoney API Docs_ [_here_](https://chimoney.readme.io/reference/post_v0-2-payment-initiate-1)

![carbon (5).png](/uploads/carbon_5_d286c66f97.png)


**3. Direct Transfer from their Wallet to your Wallet**

Another option is to facilitate a direct Transfer of funds from their Wallet to your Wallet.

**Code Example: Direct Debit to the Platform Wallet**

![carbon (6).png](/uploads/carbon_6_56595d4e88.png)

The example you chose above depends on several factors:
1. If your platform allows users to earn money or rewards to their Chimoney Wallet, then they should be able to convert this to AI credits.
2. If you want to give users the flexibility to pay for Credit using multiple options including local currency, payment rails like Interac and alternative payment methods like Mobile Money.

___
### Step 3: Tracking and Deducting Credits

**Credit Structure** 

To manage credits, mantain a credit ledger in your system with entries referencing Chimoney transaction IDs and tracking `creditsPurchased` and `creditUsed`.

**Code Example: Credit Entry**

![carbon (7).png](/uploads/carbon_7_681a3602ea.png)


**Deducting Credits (LIFO Approach)** 

When users spend credits, use the "Last In, First Out" (LIFO) approach; start deducting from the most recent credit purchase. This ensures newer credits, which customers often expect to use first, are consumed before older ones.

**Code Example: Deduct Credit**

![carbon (8).png](/uploads/carbon_8_426d05e78b.png)
___

### Step 4: Implementing Top-Ups and Balance Management
**Top-Up Workflow:**
1. The client initiates a top-up request.
2. The corresponding amount is deducted from their Chimoney wallet.
3. A new record is created in the credit ledger to track the transaction.

**API for Adding Credit Entries**

This process updates the user’s balance by logging the credits purchased into the system. The credit ledger is updated with a new entry, associating the transaction ID with the credits purchased.

**Code Example: Top-up credit**

![carbon (9).png](/uploads/carbon_9_5af535b92c.png)
___
### Step 5: Displaying Credit Balance to Users
To show users their credit balance, follow these two steps:

**1. Calculate the Total Remaining Credits**

For each credit entry, subtract `creditsUsed` from `creditsPurchased` and sum up all the remaining credits across entries to get the total.

**Code Example: Calculate Credit Balance**


![carbon (10).png](/uploads/carbon_10_b96d8004fe.png)

**2. Create an Endpoint to Display Credit Balance**


Use an API endpoint to fetch the calculated credit balance for a specific user and respond with the user's available credits.

**Code Example: Credit Balance Endpoint**

![carbon (11).png](/uploads/carbon_11_ea080e6a7c.png)
___
### Step 6: Ensuring Security and Auditability

To maintain a secure and reliable credit system, follow these practices:

**1. Maintain an Audit Trail:**
- Use Chimoney’s [chiRef](https://chimoney.readme.io/reference/knowing-the-api#chiref) in your `CreditEntry` to tie credit purchases to secure transactions.
- Regularly reconcile credit entries with Chimoney’s transaction logs for consistency.

**2. Ensure Data Integrity:**
- Implement atomic updates to ensure that `creditsUsed` changes are safe and conflict-free.

**3. Integrate Real-time Webhooks:**
- Set up webhooks to handle real-time updates when payments are made, ensuring your credit ledger stays up-to-date.
- Chimoney offers [**Webhooks**](https://chimoney.readme.io/reference/webhooks-and-events) to notify you of transaction states.

**Code Example: Monitor Chimoney Webhooks**

![carbon (12).png](/uploads/carbon_12_ebe25cca81.png)
___
### Comparing Chimoney to Other Credit Management Approaches

When deciding on a credit management solution, here’s how Chimoney stacks up against other common approaches:


**1. Building a Native System:**
- **Pros**: Full control over the system, allowing you to define custom rules and workflows.
- **Cons**: Complex to build, high maintenance, security risks.

**2. Using Third-Party Payment Processors:**
- **Pros**: Great for handling payments, limited credit management capabilities.
- **Cons**: Often requires custom solutions for credit tracking.

**3. Chimoney-Based Approach:**
- **Pros**: Simplifies credit handling with wallet management, secure transactions, and metadata capabilities. Easy integration for auditing and tracking.
- **Cons**: Dependent on Chimoney’s services, but highly reliable for businesses.
___
## Conclusion
Building a credit-based pricing system for your AI platform doesn’t have to be daunting. By leveraging [**Chimoney’s multi-currency wallet infrastructure**](https://chimoney.io/multi-currency-wallets/), you can implement a secure, scalable, and easy-to-manage credit system without building everything from scratch. The key is understanding how to integrate Chimoney’s transaction metadata and wallet management to track credit purchases and deductions seamlessly.

For platforms monetizing task-based AI services, collaborative AI-human interactions, or SaaS products that benefit from flexible billing structures, this guide and Chimoney’s integration steps provide a solid foundation to create a robust solution that scales with your business.

Ready to build your credit-based pricing system with Chimoney? Check out the [**Chimoney API documentation**](https://chimoney.readme.io/reference/introduction) or [**book a demo**](https://chimoney.io/?book_a_demo=1) with us to get started today!

___
## Appendix: Code Snippets
Below are the code snippets referenced in this guide. You can copy them directly into your implementation.

**Code Example: Issue them a Multi-currency Wallet**
````
const fetch = require('node-fetch');
const chimoneyAPIBase = 'https://api-v2-sandbox.chimoney.io/v0.2'; // Sandbox
const chimoneyAPISecret = process.env.CHIMONEY_API_SECRET;

try {
  const url = `${chimoneyAPIBase}/multicurrency-wallets/create`;
  const options = {
    method: 'POST',
    headers: {
      accept: 'application/json',
      'content-type': 'application/json',
      'X-API-KEY': chimoneyAPISecret,
    },
    body: JSON.stringify({
      name: 'Jane AI Doe',
    }),
  };

  const response = await fetch(url, options);
  const json = await response.json();
  console.log(json);
} catch (error) {
  console.error('error:', error);
}
````


**Code Example: Initiate a Payment Request**

```
const fetch = require('node-fetch');
const chimoneyAPIBase = 'https://api-v2-sandbox.chimoney.io/v0.2'; // Sandbox
const chimoneyAPISecret = process.env.CHIMONEY_API_SECRET;

try {
  const url = `${chimoneyAPIBase}/payment/initiate`;
  const options = {
    method: 'POST',
    headers: {
      accept: 'application/json',
      'content-type': 'application/json',
      'X-API-KEY': chimoneyAPISecret,
    },
    body: JSON.stringify({
      amount: 'AMOUNT_YOU_CHARGE_FOR_N_NUMBER_OF_CREDITS', // decided by your pricing plan
      currency,
      payerEmail,
      redirect_url,
      meta: {
        orulyType: 'credit_purchase',
        userId: 'your_platform_user_id',
        credits: 'NUMBER_OF_CREDITS_TO_PURCHASE',
      },
    }),
  };

  const response = await fetch(url, options);
  const json = await response.json();
  console.log(json);
} catch (error) {
  console.error('error:', error);
}
````

**Code Example: Direct Debit their Platform Wallet**

````
const chimoneyAPIBase = "https://api-v2-sandbox.chimoney.io/v0.2"; // Sandbox
const chimoneyAPISecret = process.env.CHIMONEY_API_SECRET;

try {
  const url = `${chimoneyAPIBase}/payment/initiate`;
  const options = {
    method: "POST",
    headers: {
      accept: "application/json",
      "content-type": "application/json",
      "X-API-KEY": chimoneyAPISecret,
    },
    body: JSON.stringify({
      subAccount: "THE_USERS_MULTICURRENCY_ACCOUNT_ID",
      amountToSend: "10",
      originCurrency: "USD",
      receiver: "YOUR_CHIMONEY_ACCOUNT_EMAIL",
      destinationCurrency: "USD",
      narration: "AI Credit purchase",
      meta: {
        orulyType: "credit_purchase",
        userId: "your_platform_user_id",
        credits: "NUMBER_OF_CREDITS_TO_PURCHASE",
      },
    }),
  };

  const response = await fetch(url, options);
  const json = await response.json();
  console.log(json);
} catch (error) {
  console.error("error:", error);
}const fetch = require("node-fetch");
````

**Code Example: Credit Entry**
````
interface CreditEntry {
  transactionId: string;
  creditsPurchased: number;
  creditsUsed: number;
}

let userCredits: CreditEntry[] = [];
````
**Code Example: Deduct Credit**

````
function deductCredits(
  userCredits: CreditEntry[],
  creditsToDeduct: number
): boolean {
  let remainingCredits = creditsToDeduct;

  for (let i = userCredits.length - 1; i >= 0 && remainingCredits > 0; i--) {
    const entry = userCredits[i];
    const availableCredits = entry.creditsPurchased - entry.creditsUsed;

    if (availableCredits > 0) {
      const creditsUsed = Math.min(availableCredits, remainingCredits);
      entry.creditsUsed += creditsUsed;
      remainingCredits -= creditsUsed;
    }
  }

  return remainingCredits === 0;
}
````
**Code Example: Top-up credit**

````
function addCreditEntry(
  userCredits: CreditEntry[],
  transactionId: string,
  creditsPurchased: number
) {
  userCredits.push({ transactionId, creditsPurchased, creditsUsed: 0 });
}
````
**Code Example: Calculate Credit Balance**

````
function calculateTotalCredits(userCredits: CreditEntry[]): number {
  return userCredits.reduce((total, entry) => {
    return total + Math.max(0, entry.creditsPurchased - entry.creditsUsed);
  }, 0);
  ````
**Code Example: Credit Balance Endpoint**
````
app.get('/api/user/credits', (req, res) => {
  const userId = req.query.userId;
  const credits = calculateTotalCredits(getUserCredits(userId));
  res.json({ availableCredits: credits });
});
````

**Code Example: Monitor Chimoney Webhooks**

````
app.post('/webhook/credits', (req, res) => {
  const { transactionId, creditsPurchased } = req.body;
  addCreditEntry(getUserCredits(req.userId), transactionId, creditsPurchased);
  res.sendStatus(200);
});
}
````





Lear how to monetize your AI business with a credit-based pricing system using Chimoney. This comprehensive guide explores the benefits of credit models for AI platforms, offering step-by-step implementation strategies and practical examples to enhance billing and customer experience. 

Building Credit-Based Pricing Systems for AI Platforms: How to Monetize Your AI Business with Step-by-Step Implementation Using Chimoney

large_September 2024 Changelog.png

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thumbnail_September 2024 Changelog.png

September 2024 Changelog.png

This month, we've introduced several exciting new features and improvements to enhance your experience and make managing transactions even more seamless. Below, you’ll find a detailed breakdown of the latest additions, fixes, and updates.

## New Features

- **Added the `Issue Interledger Wallet Address to a User`**: This feature allows the issuance of Interledger Wallet Addresses to users through their `userID` and `ilpUsername`. [View the update here](https://chimoney.readme.io/reference/post_v0-2-accounts-issue-wallet-address).

- **Easier access to statements**: Accessing statements is now more user-friendly! You can view and download statements with pre-filled date ranges based on your URL parameters (`from`, `to`).
![september.png](/uploads/september_8bfdf9dc23.png)

- **Subaccount tab on Transactions page**: We’ve added a new Subaccount tab on the Transactions page, allowing users to easily view transactions initiated from subaccounts.
![sub accounts.png](/uploads/sub_accounts_79b46c1cfe.png)

- **Sub-account spending management**: A new feature has been added to help monitor and manage sub-account spending. This feature provides insights into weekly spending activity compared to allowed limits.

## Updates

- **Transaction Analytics improvements**: We’ve improved the Transaction Analytics page, adding more efficient currency switching via the new Currency Toggle Button. Additionally, "USD" is now the default when the selected currency is unavailable.
![sub accounts (1).png](/uploads/sub_accounts_1_c6b8b94c55.png)

- **Crypto wallet addresses**: We’ve added support for issuing crypto wallet addresses to users. Admins can now enable this feature, which automatically assigns and saves a wallet address to the user's profile with they can view [here](https://dash.chimoney.io/identity/profile/crypto).

- **Optional walletID for payment requests**: We’ve introduced `walletID` as an optional parameter when initiating a payment. For more details, refer to the [initiating a payment request endpoint](https://chimoney.readme.io/reference/post_v0-2-payment-initiate-1).

## Fixes

- **Duplicate organization entries**: We fixed an issue where users were seeing duplicate entries of their organizations.


Discover the latest features, updates and fixes in our September Changelog

September Changelog

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August Changelog.png


We are excited to share the latest updates from August 2024! Here’s a summary of the improvements, and bug fixes we’ve released, all made with our users in mind:

## Improvements
**Chimoney Web App Dashboard Updates**

We’ve made significant enhancements to the Chimoney web app dashboard for a more intuitive experience:

1. **Reorganized Navigation & UI:** The dashboard is now divided into four main sections: Dashboard, Payments, Developers & API, and Identity Management for easier access to key features.
![Bulk pay.png](/uploads/Bulk_pay_4d3bd622ee.png)

2. **New Pages in the Dashboard Section:**

 - **Dashboard Page:** Send payouts globally and manage multi-currency wallets.

 - **Transactions Page:** View and filter all transactions, with a new option to download statements.

- **Organizations Page:** Create organizations and add team members for collaboration.

- **Transaction Insights Page:** Access analytics, key metrics, trend analysis, and redemption tracking.
![Insights.png](/uploads/Insights_665e727baf.png)

3. **Payments Section Updates:** All payment-related features are now consolidated into a single section with new pages like Bulk Pay, Groups, Quick Pay, Collections, and Payables to streamline your payment operations.
![Pay.png](/uploads/Pay_ebbdbbd9a2.png)
4. **Dedicated Developers & API Section:** New pages for API Credentials and Webhooks to give developers better control over their API integrations and webhook management.
![Dev.png](/uploads/Dev_7cd8e0e7a7.png)

Explore these updates by logging into your Chimoney account at [**dash.chimoney.io**](http://dash.chimoney.io)!


**UPA Page Enhancements:**
  - We updated the UPA page (Payment Profile) to allow saving contacts on mobile devices, making it easier for you to manage your contacts on the go.
   ![shots (6).png](/uploads/shots_6_7c9e32ad15.png)
  - We also added a QR code on the page.
![shots (9).png](/uploads/shots_9_b66d344850.png)

**Payment Profile Visibility:**
  - We now display payment profiles regardless of Interledger support (presence of an Interledger Payment Pointer)

**Swagger Documentation Update:**
  - We updated the [**Redeem Gift Card**](https://api.chimoney.io/api-docs/#/Redeem/post_v0_2_redeem_gift_card) endpoint by adding a detailed schema under `redeemOptions`. This schema now explicitly lists `email`, `countryCode`, and `productId` as properties, each with corresponding types and example values, to provide you with better clarity. We also defined the `chiRef` and `redeemOptions` as required fields.
  
  - We removed redundant `email` and `phoneNumber` fields from the [**Multi-currency wallets transfer**](https://api.chimoney.io/api-docs/#/MultiCurrency%20Wallets/post_v0_2_multicurrency_wallets_transfer) endpoint request schema. The transfer process now prioritizes the `receiver` field, which accepts a valid Chimoney Multi-currency Account, User, or Organization ID, while retaining key fields like `originCurrency`, `receiver`, and `destinationCurrency` to streamline your transfer experience.
  
  - We also removed the `subAccount` field from the request schema in the [**Get Public Profile of a Chimoney User**](https://api.chimoney.io/api-docs/#/Account/post_v0_2_accounts_public_profile) endpoint but maintained the `userID`, `linkCode`, and `p_id` fields to ensure clear and precise account identification.

**Bulk Send App Process Enhancements:**
  - The mobile money provider selection dropdown is now dynamically populated based on the selected country, ensuring that you can only select valid mobile money providers specific to your region.
   
![shots (7).png](/uploads/shots_7_24ca12d066.png)
  
  - We updated the label for the country selection dropdown from "Mobile money provider" to "Country of Provider" for improved clarity and ease of use.
  
![shots (8).png](/uploads/shots_8_f69b1b3dd0.png)
  - We now check that all required fields (_email, phone number, country, mobile money code, and full name_) are populated before enabling the verification process, preventing incomplete redemptions and ensuring a smooth experience for you.
  
  - We expanded the webhook handler logic to calculate the expected amount based on the currency and convert amounts between currencies when necessary, ensuring accurate and reliable payment processing.
  
  - We updated the checkout page with a dynamic filter option, showing only the relevant payment methods selected by users (e.g., Card/Bank, Crypto, and Chimoney), instead of all default payment options, to make the process more intuitive.


## Fixes

- We’ve ensured that you are securely redirected to the appropriate URL based on your KYC status (complete or ineligible) after completing the verification process.


Discover the latest fixes and updates from August 2024.

August 2024 Changelog

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Payment API 102 Managing User Accounts with Chimoney's API.png

## Introduction
The Chimoney API's Account Endpoints allow for the management of user accounts and transactions, from retrieving transaction details to transferring funds between accounts. These endpoints are essential for verifying transaction status, ensuring record accuracy, and resolving disputes in transactions, which ultimately enhances customer support and financial management. Additionally, they facilitate user interaction through public profile retrieval, allowing users to share their social and payment links.

This article will guide you through using the Chimoney API's Account Endpoints to manage user accounts and transactions. You'll learn how to retrieve transaction details, transfer funds, and handle other essential operations to enhance customer support and financial management in your application.

## Prerequisites
Before we begin, ensure you have the following:

- A Chimoney developer account
- Your API key from the Chimoney Developer Portal
- Node.js installed on your machine
- Axios library installed in your project

> If you haven't set up your Chimoney developer account yet, refer to our [previous article](https://chimoney.io/blogs/chimoney-guide-series-101-an-introduction-to-the-chimoney-api/) on how to get started with the Chimoney API.

## Introduction to the Account Endpoints
The Account Endpoints are designed to handle various operations related to user accounts and transactions. Here’s a brief overview of the Account Endpoints:

1. **Get Transaction Details by issueID:** Retrieves the details of a specific transaction using its unique identifier.
2. **Get Public Profile of a Chimoney User:** Fetches the public profile information of a Chimoney user. [Example of a user profile](https://profile.chimoney.io/IOjQ4fAHCFbELfKbpYZxmRke7392)
3. **Get All Transactions by Account:** Retrieves all transactions associated with a specific account.
4. **Get Single Transaction Detail:** Retrieves the details of a single transaction.
5. **Account Transfer:** Transfers funds from one account to another.
6. **Delete an Unpaid Transaction:** Deletes an unpaid transaction. 

## Integrating the Endpoints
In this section, we will explore how to integrate each of the Chimoney API's Account Endpoints into your application. 
> **Note:** Ensure you are calling the correct endpoint URL (sandbox or production). If you encounter issues, kindly verify that the appropriate endpoint is being used.

![demo (15).png](/uploads/demo_15_7309224ce8.png)
### 1. Get Transaction Details by issueID
**Endpoint:**
[POST /v0.2/accounts/issue-id-transactions](https://chimoney.readme.io/reference/post_v0-2-accounts-issue-id-transactions-1)

This endpoint allows you to retrieve the details of a specific transaction using its issueID. This is particularly useful when you need to verify the status or details of a transaction after it has been initiated.

**Application**
- Verify the details of a transaction to ensure it was processed correctly.
- Assist customer support in resolving queries related to specific transactions.

> Before we get started, you need to have an issueID. To get it you can initiate a test payout by following these steps:

- Visit the payout chimoney endpoint in the Chimoney API Documentation [here](https://chimoney.readme.io/reference/post_v0-2-payouts-chimoney-1).
![demo (14).png](/uploads/demo_14_349c27e058.png)
- Enter test details in the Body Params section;  `Recipient email address`, `Amount in USD to send`.
- Click the "Try It" Button, this will send a request to the Chimoney API and generate an issueID.
- After clicking "Try It", the issueID will be generated and displayed in the output console.
Copy the generated issueID.

#### Request Example
The code below makes a POST request to the Chimoney API using the Axios library in JavaScript. 
It sets up the request options in the options object and specifies the method as 'POST'. It provides the URL for the Chimoney API endpoint: [https://api-v2-sandbox.chimoney.io/v0.2/accounts/issue-id-transactions](https://api-v2-sandbox.chimoney.io/v0.2/accounts/issue-id-transactions). You will need to add your issueID at the end of this URL.

In the headers, include 'accept' as `application/json`, 'content-type' as `application/json`, and 'X-API-KEY' with your actual API key.
                                                                                                                                                           
```js.
const axios = require('axios');

const options = {
  method: 'POST',
  url: 'https://api-v2-sandbox.chimoney.io/v0.2/accounts/issue-id-transactions?issueID= ' //Enter issueID,
  headers: {
    accept: 'application/json',
    'content-type': 'application/json',
    'X-API-KEY': ' ' //Enter your API Key
  }
};

axios
  .request(options)
  .then(function (response) {
    console.log(response.data);
  })
  .catch(function (error) {
    console.error(error);
  });
```
#### Sample Response
The response will include details of the specified transaction, such as the transaction amount, status, date, and any associated metadata. 

![demo (6).png](/uploads/demo_6_f74b7fd3de.png)

### 2. Get Public Profile of a Chimoney User
**Endpoint:**
[POST /v0.2/accounts/public-profile](https://chimoney.readme.io/reference/post_v0-2-accounts-public-profile-1)

This endpoint allows you to retrieve the public profile information of a Chimoney user including social media links.
[Example public profile page](https://profile.chimoney.io/IOjQ4fAHCFbELfKbpYZxmRke7392)

**Application**
- Display user profile information in your application.
- Build features that require user public information, such as user directories.

#### Request Example
Copy and paste the code below into your project where you need to make the API request. Replace 'user-id' in the data object with the actual user ID you want to query.

```js.
const axios = require('axios');

const options = {
  method: 'POST',
  url: 'https://api-v2-sandbox.chimoney.io/v0.2/accounts/public-profile',
   headers: {
    accept: 'application/json',
    'content-type': 'application/json',
    'X-API-KEY': '_YOUR_API_KEY_'
  },
  data: { userId: ' ' } //Enter userID
};

axios
  .request(options)
  .then(function (response) {
    console.log(response.data);
  })
  .catch(function (error) {
    console.error(error);
  });
```
#### Sample Response
The response will contain the public profile information of the specified user, including their `payment data`, `social media links` , `username` and any other publicly available details.

![demo (12).png](/uploads/demo_12_bc31d77dc1.png)

### 3. Get All Transactions by Account
**Endpoint:**
[POST /v0.2/accounts/transactions](https://chimoney.readme.io/reference/post_v0-2-accounts-transactions-1)

This endpoint allows you to retrieve all transactions associated with a specific account. This is useful for generating account statements or for reviewing transaction history.

**Application**
- Generate detailed account statements for users.
- Review all transactions linked to a specific account for auditing purposes.

#### Request Example:
Enter the accountID whose transaction details you want to retrieve.

```js.
const axios = require('axios');

const options = {
  method: 'POST',
  url: 'https://api-v2-sandbox.chimoney.io/v0.2/accounts/transactions',
  headers: {
    accept: 'application/json',
    'content-type': 'application/json',
    'X-API-KEY': '_YOUR_API_KEY_'
  },
  data: { accountId: ' ' } //Enter accountID
};

axios
  .request(options)
  .then(function (response) {
    console.log(response.data);
  })
  .catch(function (error) {
    console.error(error);
  });
```
#### Sample Response
The response will list all transactions associated with the specified account, including details such as transaction IDs, dates, amounts, and statuses.
![demo (7).png](/uploads/demo_7_bf17b1b340.png)

### 4. Get Single Transaction Detail
**Endpoint:**
[POST /v0.2/accounts/transaction](https://chimoney.readme.io/reference/post_v0-2-accounts-transaction-1)

This endpoint allows you to retrieve the details of a single transaction using its transactionID. This is particularly useful for verifying individual transactions and ensuring they were processed correctly.

**Application**

- Verify individual transactions to ensure they were completed successfully.
- Analyze the specifics of a transaction for reporting or troubleshooting.

#### Request Example
Enter the Transaction ID [t_ID] of the specific transaction whose details you want to retrieve.

```js.
const axios = require('axios');

const options = {
  method: 'POST',
  url: 'https://api-v2-sandbox.chimoney.io/v0.2/accounts/transaction',
  headers: {
    accept: 'application/json',
    'content-type': 'application/json',
    'X-API-KEY': '_YOUR_API_KEY_'
  },
  data: { transactionID: 'transaction-id' }
};

axios
  .request(options)
  .then(function (response) {
    console.log(response.data);
  })
  .catch(function (error) {
    console.error(error);
  });
```
#### Sample Response
The response will include detailed information about the specified transaction, such as the transaction amount, date, status, and any associated metadata. 

![demo (8).png](/uploads/demo_8_1df9ad86e6.png)

### 5. Account Transfer
**Endpoint:**
[POST /v0.2/accounts/transfer](https://chimoney.readme.io/reference/post_v0-2-accounts-transfer-1)

This endpoint allows you to transfer funds from one account to another. This can be used for various purposes such as internal fund transfers or sending money to another user within your application.

**Application**
- Facilitate transfers between user accounts within your application.
- Implement payment features that require transferring funds between accounts.

#### Request Example
Enter the recipient's ID for the person you intend to pay out to.

```js.
const axios = require('axios');

const options = {
  method: 'POST',
  url: 'https://api-v2-sandbox.chimoney.io/v0.2/accounts/transfer',
  headers: {
    accept: 'application/json',
    'content-type': 'application/json',
    'X-API-KEY': ' ' //Enter _YOUR_API_KEY_
  },
  data: {receiver: ' '} //Enter the recipient's ID
};

axios
  .request(options)
  .then(function (response) {
    console.log(response.data);
  })
  .catch(function (error) {
    console.error(error);
  });
```
#### Sample Response
The response will confirm the successful transfer of funds between the specified accounts, including details such as the `payment link`, `redeem data`, `status`, `transfer amount`, `payment date`. 

![demo (11).png](/uploads/demo_11_5deca2e3c2.png)


### 6. Delete an Unpaid Transaction
**Endpoint:**
[POST /v0.2/acconts/delete-unpaid-transactions](https://chimoney.readme.io/reference/delete_v0-2-accounts-delete-unpaid-transaction-1)

This endpoint allows you to delete an unpaid transaction using its transactionID. This is useful for cleaning up pending transactions that were not completed or need to be canceled.

**Application**
- Clean up unpaid transactions.
- Cancel transactions that were initiated by mistake.

#### Request Example

```js.
const axios = require('axios');

const options = {
  method: 'DELETE',
  url: 'https://api-v2-sandbox.chimoney.io/v0.2/accounts/delete-unpaid-transaction?chiRef= ', //Enter  chiRef ID
  headers: {
    accept: 'application/json',
    'X-API-KEY': ' ' //Enter YOUR_API_KEY
  }
};

axios
  .request(options)
  .then(function (response) {
    console.log(response.data);
  })
  .catch(function (error) {
    console.error(error);
  });
  ```
  #### Sample Response
The response will confirm the successful deletion of the specified unpaid transaction, ensuring that it is removed from the transaction history.
![demo (9).png](/uploads/demo_9_bbce29f486.png)

## Conclusion
By following the provided examples and explanations, you should now be able to integrate these Chimoney Accounts endpoints into your application easily. 

Stay tuned for the next article in this series, where we will explore the AI endpoint of the Chimoney API. If you have any questions or need further assistance, please reach out to us at [support@chimoney.io](support@chimoney.io).

Happy coding with the Chimoney API!



Explore the Chimoney API's Account Endpoints in this guide, featuring detailed examples, use cases, and step-by-step integration instructions.








Payment API 102: Managing User Accounts with Chimoney's API

large_Payment API 101 Managing User Accounts with Chimoney's API.png

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small_Payment API 101 Managing User Accounts with Chimoney's API.png

thumbnail_Payment API 101 Managing User Accounts with Chimoney's API.png

Payment API 101 Managing User Accounts with Chimoney's API.png

## Introduction

Cross-border payments have become increasingly popular and essential in today's global economy, benefiting both businesses and individuals. The Chimoney API addresses this need by offering payout and payment infrastructure. By using Chimoney, you can streamline cross-border payments, improve user experience, and expand your reach to over 130 countries.

This article showcases the key features of the Chimoney API and guides you through making your first Chimoney API call. For detailed examples and specific use cases, check out these blogs:

- [The Ultimate Guide to Simplifying Global Payouts for Your Business with API Solutions](https://chimoney.io/blogs/the-ultimate-guide-to-simplifying-global-payouts-for-your-business-with-api-solutions/)
- [Integrating Multicurrency Wallets: A Deep Dive into Multi-Currency Global Payouts](https://chimoney.io/blogs/integrating-multicurrency-wallets-a-deep-dive-to-multi-currency-global-payouts/)

Additionally, read about how Reeple is using our API for remittances to Africa in this [customer success story](https://chimoney.io/blogs/customer-success-story-reeple-s-seamless-remittance-solution-for-africans-powered-by-chimoney/). 

## What is Chimoney?

At its core, Chimoney is a provider of payment and payout infrastructure and an API, offering seamless cross-border payment solutions. Imagine a world where everyone, regardless of location or economic status, can easily receive payments and redeem them through international bank transfers, gift cards, airtime, and Mobile Money. This is precisely what Chimoney offers.

## What is the Chimoney API?
APIs _(Application Programming Interfaces)_ act as bridges allowing applications to communicate with each other. The Chimoney API enables the integration of Chimoney’s services into applications through various endpoints. It provides essential functionalities to streamline cross-border payments and improve user payment experiences via: 

- **Account and Sub-Account Management:** Create and manage user accounts and sub-accounts efficiently.
- **Multi-Currency Wallets:** Handle wallets that support multiple currencies seamlessly.
- **Global Payouts:** Facilitate payouts to over 130 countries with ease.
- **AI Invoice Generation:** Automatically generate invoices by writing a prompt.
- **Wallet and Account Transfers:** Perform transactions between different wallets and accounts.
- **Bill Payment:** Enable Canadian bill payment functionality within applications.
- **Interac Payouts and Payments**: Facilitate Payouts and collect Payments via Chimoney's Interac
- **Currency Conversions:** Manage conversions between various currencies effortlessly.
- **Payment Requests:** Initiate and manage payment requests effectively.
- **Redemption of Assets:** Redeem assets such as bank transfers and gift cards.


## Exploring Chimoney API Endpoints and Key Features

The Chimoney API is organized into several categories, each offering different Chimoney services:

#### Account Endpoints
- **Features:** Enable the creation and management of user accounts, retrieval of transaction details, and execution of account transfers.  
- **Example Endpoint:** [v0.2/accounts/transfer](https://chimoney.readme.io/reference/post_v0-2-accounts-transfer-1)


#### AI Endpoints
- **Features:** Utilize AI capabilities to automate the creation of invoices.                                   
- **Example Endpoint:** [v0.2/ai/invoice/generate](https://chimoney.readme.io/reference/post_v0-2-ai-invoice-generate)


#### Info Endpoints
- **Features:** Provide access to information such as exchange rates, Chimoney-supported countries and assets, and bank details.                                                                                                     
- **Example Endpoint:** [/v0.2/info/assets](https://chimoney.readme.io/reference/get_v0-2-info-assets-1)


#### Multi-Currency Wallets Endpoints
- **Features:** Enable the creation and management of wallets that support multiple currencies (CAD, USD, NGN). Facilitate transfers between wallets and other entities such as emails and phone numbers.                                                                                                                     
- **Example Endpoint:** [/v0.2/multicurrency-wallets/create](https://chimoney.readme.io/reference/post_v0-2-multicurrency-wallets-create)


#### Payment Endpoints
- **Features:** Enable the initiation and verification of payment requests, transactions, and payouts to various destinations, including banks, mobile money services, and gift cards.       
- **Example Endpoint:** [/v0.2/payment/initiate](https://chimoney.readme.io/reference/post_v0-2-payment-initiate-1)


#### Payout Endpoints
- **Features:** Support various types of payouts, such as bank transfers and gift cards.           
- **Example Endpoint:** [/v0.2/payouts/chimoney](https://chimoney.readme.io/reference/post_v0-2-payouts-chimoney-1)


#### Redeem Endpoints

- **Features:** Allow redemption of financial assets like airtime and gift cards.                           
- **Example Endpoint:** [/v0.2/redeem/any](https://chimoney.readme.io/reference/post_v0-2-redeem-any-1) 


#### Sub-Account Endpoints
- **Features:** Allow management of sub-accounts.                                                                               
- **Example Endpoint:** [/v0.2/sub-account/create](https://chimoney.readme.io/reference/post_v0-2-sub-account-create-1)

## Getting Started with Chimoney API

In this section, we'll guide you through the process of creating a Chimoney developer account, obtaining an API key, and initiating an API call with the Chimoney API.

### Step 1. Creating a Chimoney Developer Account

To begin integrating with the Chimoney API, you'll first need to create a developer account on the Chimoney platform. Follow these steps to get started:

1. **Visit the Chimoney Developer Portal:** Navigate to the Chimoney Developer Portal at [sandbox.chimoney.io](https://sandbox.chimoney.io).
![Pink Gradient Keep Going Desktop Wallpaper.png](/uploads/Pink_Gradient_Keep_Going_Desktop_Wallpaper_563e4dc80c.png)

2. **Create Account:** Click on create account to create your developer account and fill in your email address, and a password.
3. **Verify Your Email:** After signing up, Chimoney will send a verification email to the address you provided. Click the verification link in the email to confirm your account.
![Pink Gradient Keep Going Desktop Wallpaper (1).png](/uploads/Pink_Gradient_Keep_Going_Desktop_Wallpaper_1_d193749914.png)
4. **Complete Your Profile:** Once verified, log in to your Chimoney developer account and complete your onboarding. You can also opt to complete later by clicking on the _complete later_ button on the top right of the page.
![demo.png](/uploads/demo_36b4836823.png)

### Step 2. Obtaining an API Key

An API key is required to authenticate and authorize API requests to Chimoney. Here’s how you can obtain your API key:

1. **Navigate to Developers Tab:** Within the developer portal, create a new App.
![demo (1).png](/uploads/demo_1_f2cb69bf50.png)
![demo (3).png](/uploads/demo_3_019515b79c.png)
2. **Copy Your API Key:** Once you create a new App, your API Key will be generated. Copy the key securely as it will be used to authenticate your API requests.
![demo (4).png](/uploads/demo_4_70882be258.png)

### Step 3. Initiating API Calls with the Chimoney API

Now that you have your API key, you’re ready to start making API calls to Chimoney endpoints. Here’s a basic example of how to initiate an API call using Node.js:

#### Install Axios

First, you need to install the Axios in your project. You can do this using the following command:

```bash
npm install axios
```

After setting up your environment and installing Axios, you are ready to make your first call to the Chimoney API. The next step is to send a POST request to the Chimoney [Payout Chimoney](https://chimoney.readme.io/reference/post_v0-2-payouts-chimoney-1) endpoint, which allows the initiation of payouts. We'll explain each part of the code to ensure you understand how it works.

#### Import Axios

Start by importing the Axios library in your JavaScript file. Axios is a promise-based HTTP client for the browser and Node.js, which makes it easy to send asynchronous HTTP requests.

```js.
const axios = require('axios');
```

#### Configure Request Options

Define the options for the API request. The options include the HTTP method, the URL of the API endpoint, the headers, and the data to be sent.

- **Method:** Specify the HTTP method as 'POST' because we are sending data to create a new resource (initiate a payout).

- **URL:** Set the URL to the Chimoney Payout endpoint: [https://api-v2-sandbox.chimoney.io/v0.2/payouts/chimoney](https://api-v2-sandbox.chimoney.io/v0.2/payouts/chimoney). 

- **Headers:** Include the necessary headers:
  1. accept: The type of response data expected (in this case, JSON).
  2. content-type: The format of the data being sent (in this case, JSON).
  3. X-API-KEY: Your unique API key obtained from the Chimoney Developer Portal. Replace _YOUR_API_KEY_ with your actual API key.
 
 - **Data:** The data object contains the parameters required by the API. For the payout endpoint, you need to specify the `recipient's email` and the `amount in USD`. This data will be sent in the body of the POST request.

```js.
const options = {
  method: 'POST',
  url: 'https://api-v2-sandbox.chimoney.io/v0.2/payouts/chimoney',
  headers: {
    accept: 'application/json',
    'content-type': 'application/json',
    'X-API-KEY': '_YOUR_API_KEY_'
  },
  data: {
    chimoneys: [
      {
        email: 'test@gmail.com',
        valueInUSD: 10
      }
    ]
  }
};
```
> **Note:** Ensure you are calling the correct endpoint URL (sandbox or production). If you encounter issues, kindly verify that the appropriate endpoint is being used.

![demo (15) (1).png](/uploads/demo_15_1_4bb137117b.png)
#### Make the API Request
- Use Axios to send the request with the configured options. The `.request` method sends the HTTP request and returns a promise.

- **Then Method:** The `.then` method is used to handle the response when the request is successful. The response data is logged to the console.

- **Catch Method**: The `.catch` method is used to handle any errors that occur during the request. The error is logged to the console.

```js.
axios
  .request(options)
  .then(function (response) {
    console.log(response.data);
  })
  .catch(function (error) {
    console.error(error);
  });
```

#### Complete Code Sample
Here’s the complete example code with additional comments to explain each part:

```js.
// Import the Axios library
const axios = require('axios');

// Configure the request options
const options = {
  method: 'POST', // HTTP method to use
  url: 'https://api-v2-sandbox.chimoney.io/v0.2/payouts/chimoney', // API endpoint URL
  headers: { // HTTP headers to include
    accept: 'application/json', // Accept JSON response
    'content-type': 'application/json', // Sending JSON data
    'X-API-KEY': '_YOUR_API_KEY_' // Your Chimoney API key
  },
  data: { // Data to send in the request body
    chimoneys: [
      {
        email: 'test@gmail.com', // Recipient's email
        valueInUSD: 10 // Amount to payout in USD
      }
    ]
  }
};

// Send the API request
axios
  .request(options)
  .then(function (response) { // Handle successful response
    console.log(response.data); // Log the response data
  })
  .catch(function (error) { // Handle error
    console.error(error); // Log the error
  });
```
#### What to Expect
- When the API call is successful, you should see a response object in the console with details of the payout transaction like the example below
![demo (10).png](/uploads/demo_10_7388d10520.png)

- If there is an error (e.g., invalid API key, incorrect endpoint URL), the error details will be logged to the console.

## Conclusion
In the upcoming articles, we’ll explore the Chimoney API endpoints in greater detail. This concludes our initial setup guide for integrating with the Chimoney API. If you encounter any issues or have questions during the setup process, please reach out to us at [support@chimoney.io](support@chimoney.io) for assistance.

Happy coding with the Chimoney API!

Discover how to integrate with the Chimoney API in this introductory guide. Learn about Chimoney's payment solutions, key API endpoints, and step-by-step instructions for creating a developer account, obtaining an API key, and making your first API calls. 


Payment API 101: Getting Started with Chimoney's Integration and API

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Here’s a summary of new features, improvements & bug fixes released during May.

## New Features
- **Wallet page:** Added a Wallet page for user wallet details and navigation.
![Screenshot from 2024-07-03 23-31-30.png](/uploads/Screenshot_from_2024_07_03_23_31_30_15dae288ff.png)
- **Individual self-onboarding:** Introduced individual self-onboarding with verification and profile updates.
- **Sub-account support:** Added support for sub-accounts in transaction limit checks and enabled sub-account creation with email addresses.
- **KYC auto-approval:** Implemented auto-approval of KYC submissions for eligible users.
- **CSV export:** Allowed for exportation of transaction data to CSV format.
![Screenshot from 2024-07-03 23-34-35.png](/uploads/Screenshot_from_2024_07_03_23_34_35_b39f616d64.png)

## Improvements
- Enhanced validation for multicurrency transfers.
- Added the ability to fetch and display user wallets on the [Organisations Page](https://dash.chimoney.io/company/manage).
- Introduced visualizations and a tabbed interface for easier navigation between transaction lists and charts.
- Enhanced email notifications with detailed information about fee earnings, including transaction counts and dates.
- Added quick filter functionality to transaction details for efficient data search.
![Screenshot from 2024-07-03 23-42-10.png](/uploads/Screenshot_from_2024_07_03_23_42_10_86aac2d233.png)


### API Updates
- Modified API documentation in [MultiCurrencyWallets transfer endpoint](https://api.chimoney.io/api-docs/#/MultiCurrency%20Wallets/post_v0_2_multicurrency_wallets_transfer) to include a `narration` field in the request body.
- Implemented a new endpoint [/v0.2/sub-account/community/members](https://api.chimoney.io/api-docs/#/SubAccount/get_v0_2_sub_account_community_members) to fetch community members.
- Modified the [Swagger documentation](https://api.chimoney.io/api-docs/#/SubAccount/get_v0_2_sub_account_community_members) to include the `startAfterId` parameter description for fetching community members.
- Added the "paid" status to the list of accepted statuses in the [/v0.2/payment/simulate endpoint](https://chimoney.readme.io/reference/post_v0-2-payment-simulate-1).

## Bug Fixes
- Corrected email subject in notifications for accuracy.
- Fixed frontend bugs related to NFC Link Codes and email template URLs.
- Fixed display issues with recipient denominations and calculation errors.



Explore Chimoney's May updates featuring a new admin dashboard, improved authentication and security, enhanced user experience, API updates, and crucial bug fixes for better transaction processing and display accuracy.

May 2024 Changelog

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Here’s a summary of new features, improvements & bug fixes released during April 2024.

## New Features
**OTP on Payout**: Added an OTP verification field during Payouts requiring users to enter an OTP before proceeding to payout.

**Finance Dashboard**: Introduced a new financial dashboard for comprehensive monitoring and management, offering insights into transactional data such as total volume, opening/closing balances, credit/debit amounts, and detailed transaction information like date, batch ID, sender/recipient, and balance, enabling efficient financial analysis and statement generation.
![image (1).png](/uploads/image_1_2ee3141381.png)

**User Achievement Badges**: Introduced badges for user achievements such as completing KYC and utilizing the API.

![image.png](/uploads/image_2f08e48b53.png)
## Improvements

**Updated Supported Assets List**: Removed "Scrim" and added "Chimoney App" and "Virtual Card" with updated details for "INTERAC™ e-Transfer 🇨🇦".

**API Performance Optimization**
- Enhanced API performance by optimizing payout functions, adding a Chimoney parameter for [personalized messaging when sending Interac](https://chimoney.readme.io/reference/post_v0-2-payouts-interac), and improving email templates to include transaction comments.
- [Bank branch retrieval flexibility](https://chimoney.readme.io/reference/get_v0-2-info-bank-branches) was improved by allowing it to accept either bankID or bankCode parameters, ensuring compatibility with different bank identification systems.

**UI/UX Enhancements**
  - Updated titles and descriptions for balance cards (USD, CAD, Momo Wallets), simplified Interledger Payment Pointer description, clarified INTERAC™ e-Transfer details, and enhanced referral information.

**Redeem and Funding Updates**:
  - Added "cancel-transaction" redeem type.
    - Updated funding options to include "Interac".
  - Allowed payment options with Card/Bank.
  - Adjusted currency handling while paying with card, added alerts for exceeding payment limits, and updated Stripe integration.

**Badge Updates**: Optimized badge assignment and point calculation for badge management while also enhancing team creation and wallet updates to reward users for key actions like first payouts, bulk payouts, and funding.

**PDF Transaction Statements**: Users can now download transaction statements as PDFs. Introduced a new Screen component for quick PDF previews, including Download/Print functionality and pagination support.

**Payout Validation**: Updated the transfer limit for both airtime and mobile money transfers to $10,000, increased from $1,000.

**Interac Transactions Date Range**: Adjusted the date range for fetching Interac transactions from the past 2 days to the past 3 days for broader and more accurate transaction capture.


**API Docs Update**: 
  - Updated route summaries for [/v0.2/info/convert/local-amount-to-usd](https://api.chimoney.io/api-docs/#/Info/get_v0_2_info_convert_local_amount_to_usd) and [/v0.2/info/convert/usd-to-local-amount](https://api.chimoney.io/api-docs/#/Info/get_v0_2_info_convert_usd_to_local_amount).
  - Updated [Developer API documentation](https://chimoney.readme.io/reference/post_v0-2-sub-account-community-create) to include requirements for community-related properties such as `communityID`, `membershipID`, and `memberName`.
  - Updated the description object under Chimoney's Payload in [payout Chimoney](https://chimoney.readme.io/reference/post_v0-2-payouts-chimoney-1) endpoint to accept an empty value.
  - You can now fetch Chimoney transactions using their [unique transaction IDs](https://chimoney.readme.io/reference/post_v0-2-accounts-transaction-1) (t_id) alongside the existing method of fetching transactions by their issue IDs (issueID).

## Bug Fixes
- Resolved issues with Interac payments, improving transaction processing and Stripe checkout accuracy.
- Fixed authentication and user identification errors during payouts.
- Corrected currency mapping inconsistencies and enhanced wallet redemption handling.
- Improved validation and error handling in API endpoints.
- Enhanced security with data masking and safeguarding sensitive information in API requests and responses.
- Addressed minor issues with badge updates and profile rendering bugs.


Feature's Chimoney's latest April updates, featuring new OTP verification for payouts, community banner ads, an enhanced financial dashboard, user achievement badges, API and UI/UX improvements, SEO optimization, and crucial bug fixes ensuring smoother transaction processing and user experience

April 2024 Changelog

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### Introduction

From growing up in Nigeria to completing University in Canada to working in San Francisco, and now building a Start in Toronto, Canada, I’ve seen firsthand how the right payment solutions can transform businesses and personal transactions. In this blog post, we will dive into a comparative analysis of three major players in the payment space: Interac, Zelle, and Cash App. Each platform offers unique advantages, but for Canadian users and businesses looking to expand or streamline their payment processes especially locally, understanding these differences is key.

### Interac: Canada’s Homegrown Solution

Interac stands out as a distinctly Canadian solution, deeply integrated into the financial ecosystem of the country. It allows users to send money directly between bank accounts without intermediary steps, making it highly trusted for both personal and business transactions. Here’s what Chimoney brings to the table with Interac API offers:

1. **Instant Payment Acceptance**: Businesses can receive payments up to $10,000 instantly, significantly speeding up cash flow.
2. **Bulk Payout Capabilities:** Ideal for paying out gig workers or distributing prizes, Interac enables mass payouts directly to recipients' bank accounts via email. Check out our blog post to learn how to send Interac Bulk Payouts via API.
3. **Payment Requests:** Simplify billing by requesting payments directly via email with instant payment through Interac, ensuring timely receivables. In addition to the Interac Request Money Feature, you can also use Chimoney’s Payment Request Feature which allows you to request Money and gives the payer the option to pay with Interac, Card, Bank transfer, and other options.

### Zelle: The American Connection

Originally designed to compete with the likes of PayPal and Venmo, Zelle is embraced primarily by U.S. banks, offering seamless transactions without fees. While it facilitates instant transfers among U.S. bank accounts, its integration in Canada is limited, as it requires U.S. bank partnerships.

### Cash App: Flexibility in Payments

Cash App has revolutionized the peer-to-peer payment landscape by allowing users not only to send and receive money but also to invest in stocks and cryptocurrencies. Although popular in the U.S., its functionality in Canada is constrained by regulatory and financial infrastructure differences.

### Analysis of Payment Options
![Comparision Interac vs Zelle vs Cashapp .png](/uploads/Comparision_Interac_vs_Zelle_vs_Cashapp_4b777992da.png)

### The Power of Instant Confirmation

Imagine a Canadian online platform, "Maple Goods," which used to wait days to confirm payments from international buyers—slowing down both their operations and delivery times. After integrating Chimoney's Payment Infrastructure, Maple Goods now confirms payments up to $10k instantly. Their buyers pay with their local currency with Card or Bank Transfers, powered by Chimoney, and Chimoney disburses the funds locally to Maple Goods via Interac the same day. This shift not only improves their operational efficiency but also enhances customer satisfaction by speeding up order processing times.

### Use Cases of Interac

Interac’s flexibility and integration into the Canadian financial ecosystem make it a versatile tool for various transactions. Here’s how Chimoney Infrastructure with Interac support and Infrastructure can enable these use cases:

#### Rent Payments

- - **Scenario**: Property management companies can collect monthly rent directly from tenants’ bank accounts using Interac.
    - **Chimoney’s Role**: Automate rent collection processes, reducing administrative overhead and ensuring timely payments.
    - **API Link**: [Chimoney API for Initiating Payment Request](https://chimoney.readme.io/reference/post_v0-2-payment-initiate-1)

#### Freelance and Gig Worker Payouts

- - **Scenario**: Platforms that hire freelancers for projects need an efficient way to distribute payments upon project completion.
    - **Chimoney’s Role**: Enable instant payouts to freelancers' bank accounts, enhancing satisfaction and trust.
    - API Link: [Chimoney Payouts to Interac API](https://chimoney.readme.io/reference/post_v0-2-payouts-interac)

#### E-commerce Transactions

- - **Scenario**: Online retailers require a secure method for customers to pay for goods instantly.
    - **Chimoney’s Role**: Provide e-commerce platforms with a secure, instant payment gateway using Interac, minimizing fraud and chargebacks.
    - API Link: [Chimoney Create Payment Link API](https://chimoney.readme.io/reference/post_v0-2-payment-initiate-1) and [Chimoney’s Payment Collection Widget](https://chimoney.github.io/payment-widget/)

#### Tuition Fee Payments

- - **Scenario**: Educational institutions often receive payments from both local and international students.
    - **Chimoney’s Role:** Facilitate seamless tuition fee transactions, offering a straightforward solution for students to pay their fees on time, locally via Interac, and internationally via local options. And settle the Educational Institution quickly via Interac.
    - API Link: Chimoney Education Payment Solutions

#### Donations and Fundraising

- - **Scenario**: Non-profits and charities need a reliable method to accept donations without high fees.
    - **Chimoney’s Role**: Enable charities to receive donations directly through Interac, ensuring more funds go directly to their causes.
    - API Link: Chimoney for Non-profits

These use cases illustrate just a few of the ways that Chimoney leverages Interac to provide robust, flexible, and instant financial solutions for a variety of sectors. To explore more about how Chimoney can integrate with your existing Payment Flow, visit our [Product Page](https://chimoney.io/producthub/) or [Chimoney Developer Documentation](https://chimoney.readme.io/reference/sandbox-environment).

### Conclusion

For Canadian businesses and platforms, Interac offers a tailored, robust solution that integrates seamlessly with the banking system, providing both security and efficiency. Platforms like Zelle and Cash App, while powerful in the U.S., face limitations in Canada due to the specific financial and regulatory landscape.

The comparison of the Payment systems in Canada and the US lays a foundation for additional articles I will write about Payment systems across different countries. Stay tuned.

And don’t forget to visit [Chimoney’s official website](https://chimoney.io/) to learn more about how our Payment Infrastructure and API which has Interac payout and collection support can transform your transaction processes today!

This blog post dives into a comparative analysis of three major players in the payment space: Interac, Zelle, and Cash App

Interac vs. Zelle vs. Cash App: Navigating the Canadian Payment Landscape

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_**TL;DR:** Discover how Chimoney's multi-currency wallet infrastructure empowers global business operations, offering seamless financial management across currencies with robust APIs. This guide explores how platforms can integrate and leverage these tools to facilitate global payments and elevate financial flexibility for users worldwide._

---


The world is rapidly becoming a global village, not just in terms of digital connectivity but also in finance and payments. At Chimoney, we envision a future where financial barriers are non-existent; a world where everyone, regardless of their location, can manage and move money effortlessly. We want money to move like [Chi](https://www.vocabulary.com/dictionary/chi#:~:text=to%20represent%20speech-,Definitions%20of%20chi,of%3A%20energy%2C%20vim%2C%20vitality). Our [Multi-currency Wallet](https://chimoney.io/multi-currency-wallets) infrastructure is an exciting step toward this vision.

### What is a Multi-Currency Wallet?

A multi-currency wallet allows businesses and individuals to hold, manage, and transact in multiple currencies from a single account. This is particularly vital in a globalized economy where dealing with multiple currencies is the norm, not the exception. Chimoney’s multi-currency wallet is designed to cater to this need, providing seamless transactions across borders without the hassle of currency conversion fees and delays.

### The Need for Multi-Currency Wallets

Imagine you are the founder of a shiny new AI data tagging platform. Your platform employs hundreds of freelancers from across the globe, from the bustling markets of Lagos to the tech-savvy cities of India. Each freelancer wants the flexibility of using their earnings to pay their bills in their local currency, but managing these multiple currency demands can quickly become a logistical nightmare for you.

This is where Chimoney's Multi-Currency wallets come into play. They allow your users to hold balances in multiple currencies, make transfers, and even cash out in their local currency without the hassle of currency conversion or high transfer fees.

### How Chimoney's Multi-Currency Wallets Work

1. **Wallet Creation:** Onboard Users by creating a wallet using the [_multicurrency-wallets/create_](https://chimoney.readme.io/reference/post_v0-2-multicurrency-wallets-create) endpoint. Here, they can choose which currencies they want to hold—USD, CAD, NGN, or any of the multiple currencies we support.
2. **Accessing Wallet Information:** Whenever a user needs to check their balance or recent transactions, they click a button on your Platform which calls the Chimoney [_multicurrency-wallets/get_](https://chimoney.readme.io/reference/get_v0-2-multicurrency-wallets-get) endpoint. A comprehensive list of all user wallets is available through the [_multicurrency-wallets/list_](https://chimoney.readme.io/reference/get_v0-2-multicurrency-wallets-list).
3. **Transferring Funds:** Perhaps the most critical aspect of our wallets is the ability to transfer funds. Before executing a transfer, users can get a quote. This is enabled by the [_multicurrency-wallets/transfer/quote_](https://chimoney.readme.io/reference/post_v0-2-multicurrency-wallets-transfer-quote) endpoint, which provides details on transaction fees and exchange rates. Once they are satisfied, they can proceed with the transfer through the [_multicurrency-wallets/transfer_](https://chimoney.readme.io/reference/post_v0-2-multicurrency-wallets-transfer).

### A Journey Through a Fictitious AI Data Tagging Platform

Let’s take a journey through our hypothetical AI data tagging platform. Alex, a data specialist from the United States, and Alicia, a Data Analysts from Nigeria, both work on your platform. With Chimoney's Multi-Currency Wallet, Alex can receive his earnings in CAD and Alicia in NGN. When Alex needs to pay Alicia for her services, he can transfer funds directly from his CAD balance to Alicia’s NGN balance, seamlessly and instantly, with all currency conversions handled efficiently by Chimoney’s backend.

This functionality not only simplifies the payroll process but also enhances the user experience by providing a flexible, reliable financial tool right at their fingertips.

### Why This Matters

In a world that’s rapidly embracing remote work and global collaborations, the ability to manage and transfer money internationally without friction is invaluable. Chimoney’s Multi-Currency Wallet infrastructure is more than just a financial tool; it’s a bridge connecting global talents and opportunities.

### Conclusion

As we continue to innovate and push the boundaries of what's possible in the fintech space, we invite platforms, businesses, and developers to join us. Integrate Chimoney’s Multi-Currency Wallet into your platform and give your users the power to transact globally without limits.

Ready to see Chimoney's Multi-Currency wallets in action? Then, Visit [Chimoney.io](https://chimoney.io/) to get started or book a Demo with one of our Engineers and learn how to integrate Chimoney’s Multi-Currency Wallets API.

By embracing Chimoney’s Multi-Currency Wallets, you’re not just adopting a new feature; you’re opening a world of possibilities for your users and your platform.

Discover how Chimoney's multi-currency wallet infrastructure empowers global business operations, offering seamless financial management across currencies with robust APIs. This guide explores how platforms can integrate and leverage these tools to facilitate global payments and elevate financial flexibility for users worldwide.

Exploring the Future of Global Payments with Multi-Currency Wallets

Chimoney Reward CashOut API offers increase brand loyalty by offering more flexible redeemable options

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The demand for borderless financial transactions keeps increasing as the global economy becomes increasingly interconnected. More companies are increasingly hiring internationally to access a wider pool of talent, extend runway or hire one or two exceptional talents. With this, Multi-currency wallets have proved to be indispensable, offering businesses a flexibility in managing cross-border transactions and currency conversions. In response to this need, Chimoney offers access to **Multi-Currency Wallets** for businesses and developers to integrate into their Financial workflows, Products and Solutions.

## About Chimoney’s Multicurrency Wallets
With Chimoney's Multi-Currency Wallets Businesses can fund, send and receive funds in various currencies i.e. USD, CAD, and NGN. Whether it's disbursing salaries to employees across different countries, settling invoices with international suppliers, or receiving payments from clients worldwide, these wallets provide users with the versatility they need to conduct transactions in their preferred currency.

The Chimoney Multi-Currency Wallets Infrastructure and API is specifically designed to facilitate the creation and management of multicurrency wallets, as well as seamless fund cross-currency global transfers between the wallets and other recipient channels, such as email and phone numbers.

In this article we’ll focus on only two endpoints:

- **Create a New Multi-Currency Wallet endpoint:** This initiates the creation of a new multi-currency wallet for a user or Business.
- **Transfer from a multicurrency wallet to another wallet, an email, or a phone number endpoint:** This allows for fund transfers between multi-currency wallets or to an email or phone number.

## Real-World Scenario: Global Payroll Management
We’ll implement a sample integration for an Organization with a remote team or community members distributed globally. The company needs a streamlined way to pay employees in their local currencies, ensuring timely, compliant and transparent transactions. Integrating Chimoney's multi-currency wallets offers the following benefits:

- **Employees:** Workers and Community members receive their salaries in their preferred currencies, eliminating the need to manage foreign exchange or hidden fees. This creates a positive experience and reduces confusion regarding pay.
- **Organization:** The company benefits from reduced international transfer fees and simplified payment processing with compliance built in. Chimoney handles currency conversions efficiently, tax and compliance. The consolidated payment flow minimizes administrative overhead and ensures a streamlined reconciliation process for Finance teams.

## Pre-requisites
- Node.js and npm (or yarn) installed
- A Chimoney developer account. [Get Sandbox Access](https://chimoney.readme.io/reference/sandbox-environment)
- Familiarity with Javascript development and HTTP requests

Before diving into the integration process, developers need to sign up for a [Chimoney developer account and obtain their API keys](https://chimoney.readme.io/reference/sandbox-environment), which we'll use to set the Authorization header in our API requests.

## Integration Steps
To make HTTPS requests to the Chimoney API, we'll use the axios library. Install it using npm or yarn:

```
npm install axios
```

Or use `fetch`.

## Creating a New Multi-Currency Wallet

The [`/v0.2/multicurrency-wallets/create`](https://chimoney.readme.io/reference/post_v0-2-multicurrency-wallets-create) endpoint allows you to [create new multi-currency wallets ](https://chimoney.readme.io/reference/post_v0-2-multicurrency-wallets-create)for the employees and community members. Here's an example of a Node.js function that creates a wallet for an employee:

```javascript
const axios = require('axios');

async function createWallet(userData) {
  const url = 'https://api.chimoney.io/v0.2/multicurrency-wallets/create';
  const apiKey = 'YOUR_API_KEY'; // Replace with your Chimoney API key

  const data = {
    name: "Jane Doe",
    email: "jane.doe@company.org"
  };

  const headers = {
    'Content-Type': 'application/json',
    'x-api-key': `${apiKey}`,
  };

  try {
    const response = await axios.post(url, data, { headers });
    if (response.status === 200) {
      console.log('Wallet created successfully!');
      console.log('Wallet ID:', response.data.id);
      return response.data.id;
    } else {
      console.error('Error creating wallet:', response.data.error);
      throw new Error(response.data.error);
    }
  } catch (error) {
    throw error;
  }
}
```

This function takes user data (name, email, etc.) as input and returns the newly created wallet ID upon successful creation. Remember to replace `YOUR_API_KEY` with your actual Chimoney API key.

## Transferring Funds Between Wallets

The [`/v0.2/multicurrency-wallets/transfer`](https://chimoney.readme.io/reference/post_v0-2-multicurrency-wallets-transfer) endpoint enables you to [automate international payroll](https://chimoney.io/developers-api/) payments to employee wallets. Here's an example function for [processing remote employee payments](https://chimoney.io/developers-api/) and payments to international community members:

```javascript
async function processPayroll(employeeWalletId, amount, originCurrency, destinationCurrency) {
  const url = 'https://api.chimoney.io/v0.2/multicurrency-wallets/transfer';
  const headers = {
    'Content-Type': 'application/json',
    'x-api-key': `${apiKey}`,
  };

  const senderWalletId = 'YOUR_COMPANY_WALLET_ID'; // Replace with your organization's wallet ID

  const data = {
    amountToSend: amount,
    originCurrency: originCurrency,
    receiver: employeeWalletId, // Use the employee's wallet ID as the receiver
    destinationCurrency: destinationCurrency,
  };

  try {
    const response = await axios.post(url, data, { headers });
    if (response.status === 200) {
      console.log('Payroll payment successful!');
      console.log('Transaction details:', response.data);
      // Handle successful payment, e.g., update payroll records
    } else {
      console.error('Error processing payroll payment:', response.data.error);
      // Handle payment error, e.g., log details, notify administrator
    }
  } catch (error) {
    console.error('Error sending payroll transfer request:', error);
    // Handle network errors or API issues
  }
}

// Example usage (assuming you have employee dat)
const employeeData = {
  name: 'Jane Doe',
  email: 'jane.doe@company.org',
};

createEmployeeWallet(employeeData)
  .then(employeeWalletId => {
    processPayroll(employeeWalletId, 1000, 'USD', 'EUR'); // Pay €1000 equivalent in USD
  })
  .catch(error => {
    console.error('An error occurred:', error);
  });
```
The function sends payroll payments from the organization's wallet to employee wallets. It constructs a request to Chimoney's API endpoint `/v0.2/multicurrency-wallets/transfer`, including necessary headers and data. Upon successful payment, transaction details are logged, otherwise, error messages are logged for failed transactions. You can adjust the sender's wallet ID (senderWalletId) to the specific organization's wallet ID.

The employee or community member is notified and they can cash out their Payment to their Bank Account, Wallet, or other local options.

## Conclusion
In conclusion, integrating Chimoney's [Global Multi-Currency Wallets](https://chimoney.io/wallet-as-a-service/) offers businesses and developers a seamless solution for global financial transactions and the flexibility needed to thrive in today's interconnected world.


Integrating Chimoney's Multi-Currency Wallets offers businesses and developers a seamless solution for global financial transactions. With Chimoney's Multi-Currency Wallets, users can save, send, and receive funds in various currencies like USD, CAD, and NGN, enabling versatile transactions. The Chimoney Multi-Currency Wallets API facilitates the creation and management of wallets and seamless fund transfers between wallets and other channels. Developers need to sign up for a Chimoney developer account and obtain API keys before integrating. Key endpoints include creating a new multi-currency wallet and transferring funds between wallets. Overall, Chimoney's Multi-Currency Wallets empower businesses and developers to thrive in today's interconnected world.

Integrating Multicurrency Wallets: A Deep Dive to Multi-currency Global Payouts

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**TL;DR:** Simplify your global business payouts with Chimoney's Global Payouts API, offering a seamless, secure, and cost-effective way to manage international transactions. Streamline operations, reduce costs, and ensure compliance with our developer-friendly API solution. Ideal for businesses looking to expand globally, this guide covers everything from benefits to getting started with easy-to-follow Node.js and Python examples.

---

In a world where global commerce evolves constantly, businesses are constantly seeking ways to streamline operations and scale efficiently. One of the significant challenges companies face as they expand internationally is managing global payouts. That's where the power of API solutions comes into play, transforming a traditionally complex process into a streamlined, developer-friendly experience. This guide dives deep into how businesses can simplify global payouts, with a particular focus on leveraging the [Global Payouts APIs](https://chimoney.io/developers-api/) like Chimoney's.

## The Challenge of Global Payouts

As businesses grow and breach borders, they encounter the complexity of managing payments across different countries, each with its own regulations, currencies, and banking systems. Traditional banking methods often fall short, being cumbersome, time-consuming, and expensive. For developers and businesses alike, the need for a solution that simplifies this process has never been more critical.

## Enter Global Payouts API

A [Global Payouts API ](https://chimoney.io/developers-api/)and simplified Cross-border Account Payables Infrastructure serves as a bridge between your business operations and a network of global financial institutions, allowing for seamless, automated, and secure payments worldwide. This technology enables companies to manage cross-border payments with ease, offering a level of flexibility and efficiency that traditional methods cannot match.

### Key Benefits

1. **Streamlined Operations**: Automate and manage payouts through a single API, eliminating the need for multiple banking relationships.
2. **Reduced Costs**: Lower transaction fees compared to traditional banking and financial services.
3. **Speed and Efficiency**: Facilitate near-instant payments, enhancing your operational efficiency and recipient satisfaction.
4. **Compliance and Security**: Ensure your payouts adhere to global regulatory standards, with built-in security protocols to protect your transactions.

### How It Works

Imagine you're a tech startup looking to pay your remote developers scattered across the globe or you're looking to launch a Payment Product quickly. With a Global Payouts API, like the one offered by Chimoney, you'd integrate the API with your existing payroll or financial system. Once integrated, executing a payout is as simple as making an API call, specifying the amount, currency, and recipient details. The API handles the rest, converting currencies, navigating regulations, and ensuring the payment reaches your developer swiftly and securely.

### Real-World Applications

- **Freelancer Payments**: Pay your global freelance workforce without the hassle of international bank transfers.
- **Supplier Settlements**: Settle invoices with international suppliers directly through the API.
- **Refunds and Rewards**: Easily process international refunds or send out global rewards and incentives.

### Why Developers Love It

For developers, the appeal of a Global Payouts API lies in its simplicity and power. Instead of wrestling with banking APIs, currency conversions, and compliance issues, developers can integrate one [comprehensive Payment API](https://chimoney.io/developers-api/) that handles it all. This not only saves development time but also opens up new possibilities for building global platforms and services.

## Getting Started with Chimoney's Global Payouts API for Developers

Chimoney's Global Payouts API provides a seamless way for businesses to execute global payments effortlessly. This guide is tailored for developers, featuring step-by-step instructions on how to integrate Chimoney's API using Node.js and Python. Let's dive into how you can harness the power of Chimoney's Global Payouts API to enhance your payment infrastructure.

### Prerequisites

- Chimoney account with API access. [Get Sandbox Access here](https://chimoney.readme.io/reference/sandbox-environment).
- Node.js or Python environment set up
- API keys for authentication

### Node.js Example

Install the `axios` package to make HTTP requests:

```bash
npm install axios
```
Or use `fetch`.

Create a `payout.js` file and use the following code snippet to call the Global Payouts API:

```javascript
const axios = require('axios');

const payload = {
  chimoneys: [{
    email: "test@gmail.com",
    currency: "USD", 
    amount: 10
  }]
};

axios.post('https://api.chimoney.io/v0.2/payouts/chimoney', payload, {
  headers: {
    'Content-Type': 'application/json',
    'x-api-key': 'Your_API_Key'
  }
})
.then(response => console.log(response.data))
.catch(error => console.error('Error:', error));
```

Replace `"Your_API_Key"` with your actual API key and modify the payload as needed.

### Python Example

Install the `requests` package if you haven't already:

```bash
pip install requests
```

Create a `payout.py` file and use the following code snippet to interact with the Global Payouts API:

```python
import requests
import json

url = "https://api.chimoney.io/v0.2/payouts/chimoney"
payload = {
  "chimoneys": [{
    "email": "test@gmail.com",
    "currency": "USD"
    "amount": 10
  }]
}
headers = {
  'Content-Type': 'application/json',
  'x-api-key': 'Your_API_Key'
}

response = requests.post(url, data=json.dumps(payload), headers=headers)

print(response.text)
```

Ensure you replace `"Your_API_Key"` with your actual API key and adjust the payload according to your needs.

### Testing Your Integration

Before going live, thoroughly test your integration using the provided sandbox environment. This ensures that your application handles the API's responses correctly and that you understand how to process errors and successful transactions.

### Documentation and Support

For detailed API specifications, visit [Chimoney's API documentation](https://chimoney.readme.io/). If you encounter any issues or have questions, our developer support team is here to help. Reach out through our email at support at chimoney dot io.

### Book a Demo

If you're intrigued by the potential of simplifying your global payouts with Chimoney's API solutions, we invite you to **[book a demo](https://chimoney.io/?book_a_demo=1)**. Experience firsthand how our technology can transform your business operations or help you go to market faster with Payouts, Wallet as a Service, KYC, Multicurrency Wallets and Collections built in.

## Conclusion

The world of global payments doesn't have to be complicated. With the right API solution, businesses can manage international payouts efficiently, securely, and cost-effectively. Developers play a pivotal role in integrating these solutions, and platforms like Chimoney are here to make that process as seamless as possible.

For businesses looking to scale globally, embracing a Global Payouts API is not just a convenience—it's a strategic necessity. And for developers, it's an opportunity to build and innovate on a platform that truly understands the challenges and possibilities of the global market.

_Stay tuned, explore our technology, and let’s build something amazing together._

Simplify your global business payouts with Chimoney's Global Payouts API, offering a seamless, secure, and cost-effective way to manage international transactions. Streamline operations, reduce costs, and ensure compliance with our developer-friendly API solution. Ideal for businesses looking to expand globally, this guide covers everything from benefits to getting started with easy-to-follow Node.js and Python examples. Say goodbye to the complexities of cross-border payments and hello to effortless global expansion.

The Ultimate Guide to Simplifying Global Payouts for Your Business with API Solutions

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Canadian startups and developers are continuously on the lookout for streamlined, efficient payment systems that not only offer real-time solutions but also align with the digital transformation goals of modern businesses. **Chimoney’s INTERAC™ e-Transfer Bulk Payments**  is the perfect solution for those aiming to simplify their payout processes, combining ease of use with the robustness required for large-scale transactions. This article dives deep into integrating Chimoney’s INTERAC™ e-Transfer payout endpoint, providing a hands-on guide complete with Node.js code examples.

### The Appeal of Chimoney for Developers and Startups

Before we jump into the technicalities, let’s understand why Chimoney’s Interac bulk payouts stand out, particularly for developers and startups in Canada. Chimoney offers a versatile platform enabling businesses to automate and scale their payment operations without the complexities traditionally associated with financial transactions. For developers, the appeal lies in Chimoney’s straightforward API, which allows for seamless integration into existing systems, providing a frictionless path to expanding their application’s capabilities with minimal overhead.

### Key Features of Chimoney’s Interac Payouts:

- **Bulk Payments**: Automate payouts to multiple recipients simultaneously, saving time and operational costs.
- **Developer-Friendly API**: Integrate Chimoney’s functionalities into your services with comprehensive documentation and support.
- **Multi-Currency Support**: Conduct transactions from various currencies, with automatic FX conversion where necessary. For example, you send bulk payments from US Dollars directly to Canadian Interac users.

### Implementing Chimoney’s INTERAC™ e-Transfer Bulk Payments (Javascript)

Let’s dive into how to integrate Chimoney’s Interac Bulk Payments into your Javascript application. The focus will be making a request to Chimoney's API to initiate INTERAC™ e-Transfer bulk payouts.

#### Step 1: Setting Up

First, ensure you have Node.js installed in your development environment. You’ll also need to install the `axios` package (or use `fetch`) for making HTTP requests, which can be done using npm:



```
npm install axios
```


#### Step 2: Make the INTERAC™ e-Transfer Bulk Payment API Request

Below is a simple Node.js script that demonstrates how to call the Chimoney INTERAC™ e-Transfer Bulk Payout endpoint. This script sends a bulk payout request.


```
const axios = require('axios');

const chimoneyApiKey = 'YOUR_CHIMONEY_API_KEY'; // Replace with your actual API key
const chimoneyBaseUrl = 'https://api.chimoney.io/v0.2/payouts/interac';

const payoutData = {
  debitCurrency: "CAD", // This can be USD, NGN or other supported currencies.
  interacs: [
    {
      email: "user@mail.com",
      name: "Jane Doe",
      amount: 10,
      narration: "Monthly Rent Payment"
    }
    // Add more recipients as needed
  ]
};

const sendPayouts = async () => {
  try {
    const response = await axios.post(chimoneyBaseUrl, payoutData, {
      headers: { 'Authorization': `Bearer ${chimoneyApiKey}` }
    });
    console.log('Payout successful:', response.data);
  } catch (error) {
    console.error('Payout failed:', error.response ? error.response.data : error.message);
  }
};

sendPayouts();
```



### The Impact of Integrating INTERAC™ Bulk Payments

Incorporating Chimoney's Interac bulk API endpoint translates into direct operational efficiencies for developers, startups and Businesses. Not only does it streamline the payout process, but it also ensures a higher level of satisfaction among recipients due to the speed and reliability of transactions. Furthermore, leveraging such a solution allows businesses to focus more on their core offerings, leaving the complexities of financial transactions to Chimoney.

### Why Developers and Startups Should Care

- **Time and Cost Efficiency**: Reduce the operational load and costs associated with manual payout processes.
- **Scalability**: Easily scale your payout capabilities as your business grows, without needing to overhaul your payment infrastructure.
- **Security and Compliance**: Benefit from Chimoney's robust security measures and compliance with financial regulations, mitigating risks associated with financial transactions.
- **Multicurrency Support**: Send Interac bulk payments from the US, UK or other Countries and reach Canadian users. Wether for reward payouts, paying out Class Actions via Interac Bulk Payouts or anything in-between, Chimoney has you covered.


### Conclusion

In a time where efficiency and scalability are essential and when users demand instant access to their fund, Chimoney’s Interac Bulk Payments Infrastructure offers a promising solution for developers, startups and organizations looking to streamline their financial operations. By following the integration guide provided and leveraging the power of Chimoney’s API, businesses can scale to new levels of operational efficiency, allowing them to focus on what they do best—innovating and growing their core business.

---

_INTERAC™ e-Transfer is Trademark of Interac Corp._

Integrate Streamlined Bulk Payments in Your Canadian Startup with Chimoney's INTERAC™ Bulk Payments Canada Integration (Developer-Friendly API with Node.js Guide)
This guide empowers Canadian developers and startups to leverage Chimoney's Interac Bulk Payments Canada API for effortless integration into their Node.js applications.

Why Chimoney?

Simplified Bulk Payments: Automate payouts to multiple recipients with a single API call, saving time and resources.
Effortless Integration: Chimoney's intuitive Developer-Friendly API seamlessly integrates with your existing systems for a frictionless experience.
Canadian Focus: Designed specifically for Canadian Businesses, Chimoney offers Interac Bulk Payments Canada, the perfect solution for streamlined mass payouts within the Canadian market.

Enabling INTERAC™ Bulk Payments with Chimoney’s Payment Infrastructure: A Developer’s Guide

Chimoney is your gateway to efficient cross-border payments, multi-currency wallets, and global payouts. Experience secure, real-time transactions across 130+ countries with our scalable API solutions.