Mass Crypto Payouts

Mass Payouts can be used to pay multiple crypto beneficiaries at once. Mass crypto payouts will allow you to payout from a single fiat wallet (such as USD) to multiple different crypto beneficiaries across different crypto currencies (such as USDT or BTC)
To access the feature, log into the BVNK Merchant Portal, and select Mass Payouts from the side navigation panel.
Download the template CSV as the template for your mass payout CSV.

File Format and Template Download

The CSV file should have the following format:

Amount Digital Currency Blockchain Recipient Wallet Address Destination Tag Reference
1000 ETH ETH 0xc32dEc8Ad873EDeEC81156CBCfce0732AD088fA9   ref123
1000 USDT ERC20 0xc444dEc8A5553EDeEC81186CBCfce0732AGRT23   ref789

Amount = Amount of the funding wallet you will be paying out from (in the example above, let's imagine the funding wallet you select is in USD, therefore you will be paying $1000 worth of ETH and USDT for each payment respectively)

Digital Currency: the currency you will be paying too (for all of BVNKs supported currencies please see here https://docs.bvnk.com/docs/currencies-1

Blockchain: the blockchain or network of the digital currency. For stablecoins please reference the protocol of the token such as ERC20 or TRC20 etc.

Recipient wallet Address: the address you will be sending to

Destination Tag: The optional destination tag for XRP and ALGO

Reference: a unique reference to identify payments

 

To ensure the correctness of the file and format, we strongly recommend using our predefined template for mass payouts. The template outlines the required structure and fields for your CSV file, significantly reducing the likelihood of errors during the upload process.

The mass payout CSV template is available for download in the Mass payouts section of our Merchant Portal. Please download the template, fill in your transaction details according to the format provided, and upload it back to the portal.

By using our provided template, you help to streamline the processing of your mass payouts and avoid common formatting issues.

 

Steps to Upload for Mass Payout

To ensure a smooth and efficient mass payout process, follow these steps:

  1. Access the Merchant Portal: Log in with your merchant credentials.
  2. Navigate to Mass Payouts: In the sidebar menu, click on ‘Mass payouts’.
  3. Choose the Payout Currency: Click on the ‘Cryptocurrencies’ option to select it as the currency type for your mass payout.
  4. Upload the CSV File: Click on the ‘Upload CSV’ area or drag and drop your file into the space. Ensure that your CSV file is less than 10MB in size for optimal processing.
  5. Batch Payments: For enhanced processing speeds, we recommend batching your payments in groups of 100.

Immediate Feedback Message

After the file is uploaded, the user will receive an immediate feedback message:

"Thank you for uploading your file. It is currently being processed. We will process a total of X records. We will notify you once the processing is complete, or if any further action is required on your part."

Processing and Error Handling

Upon uploading your mass payout CSV file, our system diligently processes each transaction row by row. Successful transactions are processed seamlessly. However, if there are any discrepancies or issues with specific payments, these will not halt the entire batch. The system will continue to process the rest of the file accordingly.

In the event of an error with one or more transactions, we will immediately notify you via email (the email address you provided when the feature is enabled for you). This email contains a detailed report, outlining the Customer Reference for each transaction that encountered an error, along with a specific error code.

For example, if you upload a file with 10 payments and encounter issues with 2 of them, the remaining 8 will be processed successfully. The 2 transactions with errors will be detailed in an error report email, as shown in the attached image, so you can quickly identify and rectify the issues.

Each error code in the report corresponds to a particular issue that can be cross-referenced in our Payment Error Codes Reference for a detailed explanation and steps for resolution.

Please review the error report carefully and take the necessary actions to correct the errors in your file. Should you require further assistance, our support team is on hand to guide you through resolving these issues to ensure successful processing of all your transactions.

Successful Transactions

Successfully processed transactions will appear in the "Recent Transactions" section of the merchant portal as well as in the Payments table. All details related to the payment will be visible in these sections.

Payment Error Codes Reference and Description

Below you will find a comprehensive list of mass payment error codes that you might receive by email, should there be any issues with your mass payout file uploads. Each error code is accompanied by a brief description and guidance on how to address the associated issue. This reference is designed to help you quickly identify and resolve errors, ensuring a smoother transaction process for your mass payouts.

ERROR CODES LIST
MER-PAY-2000 duplicate customer reference detected Error given when there is a duplicate Customer Reference entry in the parameters provided.
MER-PAY-2001 invalid amount specified Error given when the transaction amount does not meet the minimum or maximum amount constraints.
MER-PAY-2005 invalid payout address format Error given when the payout address is invalid or malformed.
MER-PAY-2010 <reference> value already exists Error given when a payment was already created using this reference. All references need to be unique.
MER-PAY-2011 currency <currency> is disabled Error given when creating a payment with a currency is disabled and is not available for trade.
MER-PAY-2012 insufficient funds Error given when the account does not have enough funds to process the transaction.
MER-PAY-2019 invalid <currency> Error given when creating a payment with a currency which is not supported or doesn't exist.
MER-PAY-2024 invalid <blockchain protocol> Error given when creating a payment with a Blockchain protocol which is not supported or doesn't exist.

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