Create your first Crypto Payment

First, you’ll need to create a Merchant ID (MID). 

A Merchant ID, or MID, is a unique identifier that allows you to start accepting payments seamlessly. Let's walk through the process:

 

  1. Navigate to the Settings Section: This is where you can manage all your payment-related activities on BVNK.
  2. Locate the 'Manage Merchant Settings' Option: Within the Settings section, find the option dedicated to managing merchants. Click on it to proceed.
  3. Click on 'Create New Merchant ID': You'll find an option labelled 'Create New Merchant’. Clicking on this will initiate the process of setting up your MID.
  4. Name Your Merchant ID: Assign a name to your MID. This name can be your business name, a specific department, or any identifier that makes sense for your operations.
  5. Link to Your Wallet: Every MID needs to be attached to one of your BVNK account wallets. Select the desired wallet, whether it's fiat or crypto, to which your MID will be linked.
  6. Confirm and Create: After filling in the necessary details, click on the 'Confirm' button. Your new Merchant ID will be generated and ready for use.

 

With your Merchant ID set up, you're now ready to accept payments from customers. Each MID offers flexibility with its unique name, display currency, and linked wallet, ensuring you have full control over your payment operations.

 

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Now you are ready to start creating Crypto payments via your MID.

 

Creating Your First Payment Request on BVNK: 

 

Now that you've set up your Merchant ID, it's time to put it to use and create payment links. A payment link can be sent to your customers to request a payment or offer a payout. Let's dive in:

 

  1. Navigate to the Payments Section: This is your central hub for all payment-related activities on BVNK.
  2. Select 'Create Payment' Option: Within the Payments section, find and click on the option labeled 'Create Payment'.
  3. Choose Your Merchant ID (MID): From the dropdown menu or list, select the Merchant ID you've recently set up. This MID will be the identifier for the incoming payment.
  4. Select ‘In’: You are requesting payment into this wallet
  5. Enter Payment Details:
    1. Amount: Specify the amount you're expecting to receive.
    2. Reference: Add a reference or description for the payment. This can be an invoice number, a brief description, or any other identifier that helps you track the payment.
    3. Expiry limit: this can be set between minutes and days
  6. Confirm Payment Details: Review the details you've entered to ensure accuracy. This step is crucial to avoid any discrepancies or errors.
  7. Initiate the Payment: Once you're satisfied with the details, click on 'Confirm'. Your incoming payment request will be generated.
  8. Share Payment Details: After initiating the payment, you can copy the payment link and share it with the payer. 

 

With these simple steps, you've successfully created your first incoming payment request using your Merchant ID. As payments come in, you can easily track and manage them within the BVNK platform, ensuring a smooth financial workflow.

 

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Creating Your First Outgoing Payment on BVNK: 

Welcome to the guide on initiating your very first outgoing payment on BVNK. With your Merchant ID in place, managing payments has never been easier. Let's get started:

 

  1. Navigate to the Payments Section: This is your central hub for all payment-related activities on BVNK.
  2. Select 'Create Payment' Option: Within the Payments section, find and click on the option labelled 'Create Payment'.
  3. Choose Your Merchant ID (MID): From the dropdown menu, select the Merchant ID you've set up. This MID will be the identifier for the outgoing payment.
  4. Select ‘Out’: You are paying out of this wallet
  5. Enter Payment Details:
    1. Amount: Specify the amount you intend to send.
    2. Reference: Add a reference or description for the payment. This can be an invoice number, a brief note, or any other identifier that helps you track the payment.
    3. Expiry Limit: the time frame for this payment out before it expires
  6. Confirm Payment Details: Review the details you've entered to ensure accuracy. It's essential to double-check to prevent any errors or unintended transactions.
  7. Initiate the Payment: Once you're satisfied with the details, click on the 'Confirm' button. Your outgoing payment will be created.
  8. Share Payment Details: After creating the payment out, you can copy the payment link and share it with the receiver of the funds. 

 

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Track Payment Status: 

After initiating the payment in or out, you can monitor its status within the BVNK platform. You'll be updated on its progress, from initiation to completion.

 

With these straightforward steps, you've efficiently set up your first outgoing payment using your Merchant ID. BVNK ensures a seamless and secure payment experience, giving you peace of mind with every transaction.

 

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