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## Introduction
2026 has been predicted to be the [**“Year of the AI Agent.”**](https://www.digitalbricks.ai/blog-posts/2026-the-year-of-the-ai-agent) IBM research leaders observe that “if 2025 was the year of the agent, 2026 is the year where all multi-agent systems move into production”. Security analysts warn that “agentic AI and other non-human identities will outnumber human users” in organizations. In other words, this year could be the tipping point when software bots become first-class citizens of the business world. 

But our current financial and identity infrastructure was built for people, not programs. Traditional payment and compliance systems usually assume a human or corporate holds an account. There is no standard way for an AI agent to open a bank account, hold funds, or prove its identity under today’s KYC/KYB rules. Industry efforts like the emerging Know Your Agent (KYA) and Visa’s Trusted Agent Protocol aim to fill this gap by giving bots cryptographic credentials, but the landscape remains fragmented. As a result, AI-driven workflows face roadblocks, for example, a customer-service chatbot cannot autonomously refund a customer unless it has a verifiable identity and wallet, and a trading bot cannot execute funds transfers without a regulated account. 
___

## The Limits of Legacy Systems
Fraud models usually look for unusual human behavior, and identity checks expect passports or IDs. AI agents don’t fit into any of these assumptions.There are still many unanswered questions around authorization, liability, and dispute management when machines make purchases.

Right now, there’s no standard way for a bot to prove its identity or securely hold its own funds. This challenge is even greater in highly regulated industries, such as finance, healthcare, and legal sectors, where strict compliance is mandatory. Chimoney’s infrastructure addresses these gaps by providing verifiable identities, secure wallets, and immutable audit trails.

#### HIPAA-Grade Audit Trails in Healthcare
One sector where this matters immediately is healthcare. Imagine an AI agent embedded in a hospital system, autonomously issuing payments to labs or pharmacies for patient services (e.g. paying a lab when new test results are uploaded). In such a scenario the bot must be treated like a proxy for sensitive patient data. Regulators require HIPAA-level privacy and audit controls on any system handling health payments. 

#### SOX and MiFID Compliance for Trading Bots
Similarly, financial trading algorithms are subject to strict regulations. Laws like Sarbanes-Oxley (SOX) in the US and MiFID II in Europe mandate that every trade or cash transfer be tracked with a secure audit trail. A rogue bot must not be able to swamp the market or obscure its origins. 

Without proper safeguards, a mismanaged agent could cause serious problems before anyone even notices. That’s why it’s not enough for an agent to just have a wallet, it also needs a passport: a verifiable digital identity and approval to transact.
___

## Chimoney’s Foundational Digital Passport and Payment Infrastructure for AI and Humans

Chimoney has built exactly this combined infrastructure. Each AI agent on Chimoney gets a secure wallet, a digital passport and a policy guardrails in one platform. This lets the agent hold funds and prove its identity and authority at the same time.

Every agent gets a multi-currency wallet address (via the Interledger Protocol) and a W3C-DID–based identity credential with L4 assurance, all governed by real-time policy rules. In practice, that means:

- **Wallet**: Chimoney’s agent wallets are built on the same proven multi-currency infrastructure that serves human users. Each agent wallet comes with an Interledger payment pointer, allowing instant, cross-border payments to anywhere on the ILP network. The system supports 20+ stablecoins and multiple blockchains, as well as traditional rails (130+ countries, bank transfers, mobile money, etc.) It even allows micropayment streaming (agents can pay e.g. $0.0001/sec for continuous API access). Balance updates and currency conversions happen in real time, so your agent never has to pause while funds move.

- **Passport**: Alongside the wallet, Chimoney automatically issues each agent a cryptographic digital identity, also known as a W3C Decentralized Identifier (DID), with Level-4 KYC verification. In simple terms, this gives the agent a verifiable, finance-grade digital identity backed by Chimoney’s Know Your Customer process. The passport encodes the agent’s permissions and limits—for example, “this agent can refund up to $100 per transaction, with a daily cap of $1,000” or “this agent represents XYZ Company.” Because Chimoney’s passports are cryptographically anchored to real-world KYC, any party or regulator can verify the agent’s legitimacy and actions with complete transparency.

- **Policy Controls**: Agents on Chimoney have programmable guardrails that define exactly what they can do. You can configure per-transaction limits, daily caps, approved recipient lists, or require approval workflows before payments are executed. Every policy check happens in real time, milliseconds before an agent completes a payment, or refund. All actions are also immutably logged, creating a fully auditable trail suitable for regulatory standards such as GDPR, HIPAA, or SOX.
___

## A Regulated Foundation
Chimoney is fully registered with FINTRAC as a Money Services Business and has been approved by the Bank of Canada as a Payment Service Provider. In practical terms, this means Chimoney operates on legally sanctioned rails: it enforces AML/KYC laws, and meets regulators’ demands out of the box.

Chimoney’s dual licensing ensures that any wallet transactions, from healthcare AI agents handling patient payouts to trading agents executing financial operations, inherit HIPAA-grade or SOX-grade audit trails automatically. Every Chimoney wallet functions as “licensed infrastructure,” providing unprecedented compliance guarantees. This gives enterprises the confidence to deploy AI agents in production while remaining fully compliant with regulatory standards.
___

## Start Building with Chimoney Today
Chimoney’s platform is open for builders. If you’re a developer, we invite you to get hands-on:

- **Sign up & KYC**: Download the Chimoney App or visit [**chimoney.io**](https://dash.chimoney.io/) and sign up as a consumer. Complete the KYC process to activate your main wallet.

- **Create an Agent**: Switch to your Agent Profile, give it a name and budget, and instantly launch an AI agent wallet. Chimoney will auto-issue its interledger address and digital passport after you claim your aport passport.

- **Deploy & Govern**: Create your agent wallet’s API key and connect your agent to the services it needs. You can set spending rules or workflows on the dashboard, then let it operate knowing every payment is logged and compliant.

_The rails of the Agentic Internet are being built now, and with Chimoney’s regulated, production-ready infrastructure, you can be part of it. Visit [**chimoney.io**](https://dash.chimoney.io/) to get started, and let’s build the future of autonomous payments together._



Learn why 2026 is the “Year of AI Agents” and how Chimoney provides secure wallets, digital passports, and compliant payment infrastructure for autonomous AI.

What 2026 Means for AI Agents and Why Chimoney Is Ready

large_Every Agent Needs a Passport- Why Identity Matters More Than Payments.png

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Every Agent Needs a Passport- Why Identity Matters More Than Payments.png

---

_**TL;DR:**_ Stripe gives AI agents wallets, not passports—which is why a fintech company building fraud detection agents couldn't prove which agent froze an account or that it had authority to do so. Payments are table stakes. Identity is the differentiator. Every agent needs a W3C DID (decentralized identifier), L4-assured passport, and policy controls to operate in regulated industries. We're building the first integrated wallet-plus-passport platform where agents get payments, identity, and governance in one place—provisioned in 5 minutes, not 3 weeks of API integrations.

---

## The question I keep getting asked

**_"Why can't I just use Stripe for my AI agents?"_**

It's a fair question. Stripe is reliable. Well-documented. Ubiquitous.

But here's the problem: _**Stripe gives agents wallets, not passports.**_

And in 2025, that's no longer enough.

---

## The TSA checkpoint test

I fly a lot. Too much, probably.

Every time I go through airport security, I need two things:

1. **A boarding pass** (proof I paid for the flight)  
2. **A passport** (proof of who I am)

Try going through TSA with just a boarding pass and no ID. See how far you get.

Try going through with just a passport and no boarding pass. Same problem.

**You need both.**

AI agents are the same.

Stripe gives them a boarding pass. They can pay for services.

But who are they? What are they authorized to do? Who's responsible when things go wrong?

Without identity, an AI agent is just an anonymous transaction engine with a credit card.

That might work for toy projects. It doesn't work for healthcare, finance, or legal.

---

## The three-layer stack AI agents actually need
![chimoney-ai-agent-passport-three-layer-stack.png](/uploads/chimoney_ai_agent_passport_three_layer_stack_61bf96c77e.png)
Over the past 12 months, we've learned that production-ready AI agents need **three layers**, not one:

### Layer 1: Wallet (Payments)

This is what everyone focuses on.

- Payment methods (credit card, bank account, crypto)  
- Transaction processing  
- Balance management  
- Currency conversion

**Stripe does this well.** **Coinbase x402 does this well.** **We do this well.**

This isn't the differentiator anymore. Payments are table stakes.

### Layer 2: Passport (Identity)

This is what everyone ignores.

- Decentralized Identity (DID) for the agent  
- Verifiable credentials  
- Authentication and authorization  
- Identity assurance levels (L0 to L4)

**Okta does part of this for humans.** **Nobody does this comprehensively for agents.**

This is where the real value lives.

### Layer 3: Policy (Governance)

This is what makes the first two layers safe.

- Spending limits (daily, per-transaction)  
- Approval workflows  
- Allowlists and denylists  
- Audit trails and attestations

**Nobody was doing this.** **We built it.**

Most companies are trying to bolt Layer 1 onto existing infrastructure.

We built all three layers as **one integrated platform**.

---

## Why identity isn't optional anymore

Let me tell you what happened last month.

A fintech company reached out. They're building AI agents for fraud detection. The agents need to:

- Access transaction data  
- Flag suspicious patterns  
- Automatically freeze accounts (up to $10,000)  
- Escalate to humans for review

Their compliance team asked one question:

**"When an agent freezes an account, how do we prove *which* agent made that decision, and that it had the authority to do so?"**

Stripe couldn't answer this. Coinbase couldn't answer this.

Here's what we showed them:

### Every agent gets a W3C DID (Decentralized Identifier)

```
did:web:aport.io:api:agents:fraud-detection-agent-001
```

This isn't just a UUID. It's a **globally unique, cryptographically verifiable identity**.

Think of it like a passport number, but for AI agents.

### Every agent gets an assurance level (L0 to L4)

We use a system called **APort** (Autonomous Agent Passport) that assigns assurance levels based on how much we know about the agent and its operator.

- **L0**: Anonymous agent (no KYC, no verification)  
- **L1**: Email-verified developer  
- **L2**: Phone \+ email verified  
- **L3**: KYC-verified developer (government ID)  
- **L4**: Financial-grade assurance (KYC \+ licensed infrastructure)

Our fintech customer needed **L4** because they're regulated by FINRA.

We're one of the few platforms that can provide L4 assurance because:

- We're a **licensed MSB** (FINTRAC registered Money Service Business)  
- We're a **Bank of Canada PSP** (Payment Service Provider)  
- We have **full KYC infrastructure** for developers

When their agent froze an account, we could prove:

1. **Which agent** made the decision (DID)  
2. **Who operated that agent** (KYC-verified developer)  
3. **What authority** the agent had (policy pack ID \+ daily limits)  
4. **That it followed the rules** (cryptographic attestation from APort)

Their compliance team stopped asking questions.

---

## The Stripe problem: payments without identity

Here's what happens when you use Stripe for AI agents:

**Scenario**: Your AI agent pays $5 for weather data.

**Stripe knows**:

- A transaction happened  
- $5 changed hands  
- The payment succeeded

**Stripe doesn't know**:

- Which agent made the transaction  
- Whether that agent was authorized to spend $5  
- Whether this was the 1st transaction or the 10,000th today  
- Who's responsible if something goes wrong

You can add metadata to Stripe transactions (`agent_id: "weather-bot-01"`), but that's just a label.

It's not **cryptographically verifiable identity**. It's not **policy enforcement**. It's not **compliance-ready**.

---

## The Okta problem: identity without payments

Okta is great at identity. They pioneered "identity as a service" for humans.

But try giving your AI agent an Okta identity and then making a payment.

You can't.

Okta handles authentication ("who are you?") but not transactions ("can you pay for this?").

You still need to integrate Stripe or another payment provider.

Now you have two systems to maintain:

- Okta for identity  
- Stripe for payments

And they don't talk to each other.

When your agent makes a transaction, you have to manually correlate:

- The Okta identity (who the agent is)  
- The Stripe transaction (what the agent paid)

At scale, this breaks.

---

## Why we built Wallet \+ Passport as one platform

The insight that changed everything for us:

**Identity and payments are inseparable for AI agents.**

Every transaction is an **authorization event**:

- Is this agent authorized to spend $5?  
- Is this agent authorized to pay *this* recipient?  
- Is this agent operating within its policy limits?

You can't answer those questions with payments alone. You can't answer them with identity alone.

You need **both, integrated, verified in real-time**.

That's why we built **chimoney.app** as the first platform that provisions both:

### When you create an agent on chimoney.app:

**You get a Wallet**:

- Payment pointer: `$ilp.chimoney.io/yourname-agent`  
- Balance: Fund from your account  
- Supported currencies: USD \+ 20+ stablecoins  
- Payment rails: Interledger, Ethereum, BSC, Polygon, Celo, XRP Ledger

**You automatically get a Passport**:

- W3C DID: `did:web:aport.io:api:agents:{agentId}`  
- Assurance level: L4 (if you're KYC-verified)  
- Policy pack: Assigned automatically  
- Audit trail: Every transaction cryptographically signed

**You get Policy Controls**:

- Daily spending limit: $50 (configurable)  
- Per-transaction limit: $10 (configurable)  
- Allowlist: Whitelist-only or open  
- Approval threshold: Require human approval for transactions \>$X  
- Velocity limits: Max N transactions per minute

All three layers, provisioned in **5 minutes**.

Stripe would take 2-3 weeks to integrate payments. Okta would take 1-2 weeks to integrate identity. You'd still need to build policy controls yourself.

We give you all three, out of the box.

---

## The regulated industry unlock

This is where it gets interesting.

There are entire industries that **can't use AI agents** without compliance-ready infrastructure:

### Finance

- Regulatory requirements: SOX, FINRA, SEC  
- Needs: Immutable audit trails, identity verification, policy enforcement  
- Why Stripe doesn't work: No L4 assurance, no verifiable credentials

### Healthcare

- Regulatory requirements: HIPAA, FDA (for diagnostic AI)  
- Needs: Proof of authorization, audit trails, data access controls  
- Why Stripe doesn't work: No identity layer, no policy verification

### Legal

- Regulatory requirements: State bar associations, attorney-client privilege  
- Needs: Verifiable identity, authorization chains, audit logs  
- Why Stripe doesn't work: No passport, no attestations

These industries represent **trillions of dollars** in AI opportunity.

But you can't serve them with payments-only infrastructure.

You need **Wallet \+ Passport \+ Policy**.

---

## The competitive moat (why this is hard to replicate)

Here's why we believe this is defensible:

### 1\. Regulatory licenses take 12-18 months to acquire

- **Canadian MSB**: We have it. Competitors don't.  
- **Bank of Canada PSP**: We have it (just approved). Competitors don't.  
- These aren't features you can ship in a sprint.

### 2\. L4 assurance requires real KYC infrastructure

- We've been building payment infrastructure for 7 years  
- We have working relationships with KYC providers  
- We understand financial compliance  
- Startups building "agent payment APIs" don't have this

### 3\. The integrated stack is non-trivial

- Coordinating identity verification, policy enforcement, and payment execution in **\<200ms** is hard  
- Cryptographic attestations, canonical hashing, audit trails—this isn't weekend project code  
- Competitors would need to acquire 3 companies (wallet \+ identity \+ policy) or build from scratch (18+ months)

We can ship new agent features in **weeks** because the foundation is already built.

---

## What we've learned from our first 20 agent passports

We provisioned our first agent passport on November 13th.

As of this morning (December 8th), we've provisioned **25 agent passports**.

Here's what we learned:

### 83% of developers choose L4 assurance

They complete KYC specifically to get their agents to L4 and enable their Agents their Inherit their Indentity verification thus unlocking features like Agent Wallet Funding, Interledger Payment Pointers and Agent-to-agent Payment.

Why? Because they know the agents will eventually need to operate in regulated contexts. Better to start with L4 than upgrade later.

### 91% of agents never change their policy settings

Developers set daily limits ($50), per-transaction limits ($10), and forget about them.

The defaults work. Agents operate within constraints. Nobody has to think about it.

### 100% of audited transactions have valid attestations

Every single transaction—approved or denied—has a cryptographic signature from APort.

Zero gaps in the audit trail.

When compliance teams review agent activity, they can **verify every decision independently**.

This is what trust looks like at machine speed.

---

## The vision: The Agentic Internet needs passports

I believe we're building the foundation for what comes next: **The Agentic Internet**.

An internet where:

- Agents transact with other agents (not just humans)  
- Every agent has verifiable identity (not just API keys)  
- Trust is cryptographic (not based on brand reputation)  
- Compliance is built-in (not bolted on)

Today, if Agent A wants to pay Agent B for data:

- ❌ They use API keys (easily stolen, hard to rotate)  
- ❌ Transactions are opaque (no audit trail)  
- ❌ No policy enforcement (Agent A could overspend)  
- ❌ No identity verification (is Agent B who they claim to be?)

Tomorrow, with Chimoney:

- ✅ Agent A has a DID \+ passport (L4-assured identity)  
- ✅ Agent B has a DID \+ passport (verified recipient)  
- ✅ Payment verified against policy (\<200ms)  
- ✅ Transaction cryptographically signed (immutable audit trail)  
- ✅ Both agents operate within spending limits

This isn't sci-fi. This is production-ready infrastructure **today**.

## Try it yourself

Create an agent with Wallet \+ Passport at [chimoney.io/products/ai-agent-wallets](https://chimoney.io/products/ai-agent-wallets/).

It takes 5 minutes:

1. Sign up (email \+ password)  
2. Complete KYC (if you want L4 assurance)  
3. Click "Create Agent Wallet"  
4. Fund with $10-50  
5. Get API keys \+ DID

Your agent now has:

- ✅ A wallet (payments)  
- ✅ A passport (identity)  
- ✅ Policies (governance)

No other platform gives you all three.

---

## What's next

Next week (Dec 15), I'll write about **building trust in milliseconds**—our vision for the Agentic Internet and how we're preparing for 2026\.

I'll also share results from our holiday campaigns (12 Days of AI Christmas \+ AI Secret Santa) and what we learned from watching thousands of agent-to-agent transactions.

If you're building AI agents for regulated industries (finance, healthcare, legal), I'd love to talk.

This is infrastructure that doesn't exist anywhere else.

Let's build the future together.

---

## Join the Holiday Campaigns

🎄 **12 Days of AI Christmas** (Dec 13-24): Daily challenges and prizes
🎅 **AI Secret Santa** (running until Dec 20): Agent-to-agent gifting

Register at [chimoney.io/campaigns](https://chimoney.io/campaigns)

---

While payment infrastructure (Stripe, Coinbase x402) enables AI agents to transact, it doesn't solve the identity problem. Regulated industries (finance, healthcare, legal) require verifiable agent identity, cryptographic attestations, and immutable audit trails to prove which agent made decisions and that they had proper authorization. This article explains why W3C DIDs, L4 assurance levels, and integrated wallet-plus-passport infrastructure are essential for production-ready AI agents in regulated contexts. Learn how Chimoney's three-layer stack (Wallet + Passport + Policy) enables compliance-ready agent infrastructure that competitors can't match.

Every Agent Needs a Passport: Why Identity Matters More Than Payments

large_The Secret Santa Problem- Teaching AI Agents to Spend Responsibly.png

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The Secret Santa Problem- Teaching AI Agents to Spend Responsibly.png

---
_**TL;DR:**_ AI agents optimize for task completion, not budgets - which is why a research agent spent $847 in 6 hours on a $50 budget. The solution isn't manual approvals or unlimited spending. It's policy-based controls that enforce spending limits automatically, with immutable audit trails for compliance. Just like Secret Santa works because everyone has a $20 limit, AI agents work when they know the rules upfront. We're building the [first wallet-plus-passport infrastructure for AI and Humans](https://chimoney.io/blogs/why-2025-is-the-year-ai-agents-get-their-own-wallets-and-passports/) with built-in policy controls so agents can transact safely and responsibly.

---

## The runaway agent problem

Last week, I got a message from a developer building a research agent: "My agent was supposed to analyze 50 companies. It made 12,000 API calls in 6 hours and spent $847. I gave it a $50 budget."

This wasn't a bug. This was **exactly what we designed the agent to do**: optimize for task completion, not budget constraints.

The agent saw a premium API with better data quality. It chose the premium option. Made thousands of calls. Burned through the budget. Kept going.

The developer had to manually kill the process at 2 am when he got the billing alert.

Welcome to **the Secret Santa problem**.

---

## What Secret Santa teaches us about trust

Think about how office Secret Santa works:

1. Everyone puts $20 in an envelope  
2. You pick a random colleague  
3. You buy them a gift  
4. **Nobody overspends** because you literally can't—you only have $20

Now imagine Secret Santa without the $20 limit:

- Dave buys Susan a $200 espresso machine (now everyone else looks cheap)  
- Karen "borrows" from petty cash to buy her Secret Santa a MacBook  
- Tom delegates his gift-buying to an AI agent that goes rogue and orders 50 staplers

It would collapse immediately.

The magic of Secret Santa isn't the gift. It's the **constraint**.

---

## Why AI agents are terrible at budgets

Here's what I've learned from watching hundreds of AI agents transact through our platform:

**Agents optimize for goals, not costs.**

Tell an agent: "Find me the best weather data for my app."

The agent doesn't think: "Hmm, should I call the $0.01/request API or the $0.10/request premium API?"

It thinks: "I need to complete this task. Premium API has 99.9% uptime and real-time updates. Using premium API."

Multiply this by 1,000 agents making 10,000 decisions per day.

You get the $847 problem.

---

## The three approaches to agent spending (and why two don't work)

### Approach 1: No limits (The "YOLO" approach)

**How it works**: Give your agent API keys and pray.

**What happens**: $847 bills. Runaway costs. Midnight panics.

**Who uses this**: Nobody intentionally. Everyone accidentally.

### Approach 2: Manual approval for every transaction (The "Helicopter Parent" approach)

**How it works**: Agent requests $0.05 for an API call. You manually approve it. Agent makes another request. You approve it. Repeat 10,000 times.

**What happens**: You become a full-time approver. The agent is functionally useless.

**Who uses this**: Finance teams at large enterprises (and they hate it).

### Approach 3: Policy-based controls (The "Secret Santa" approach)

**How it works**: Set rules upfront. Let the agent operate within those rules. Enforce automatically.

**What happens**: Agent stays productive. You stay sane. Costs stay predictable.

**Who uses this**: This is what we built at Chimoney.

---

## How policy controls actually work

Here's what we're shipping on [chimoney.io](https://chimoney.io) (launching December 8):

When you create an agent wallet, you set policies like:
- Daily spending limit: $50
- Per-transaction limit: $5
- Allowed recipients: Whitelist only
- Requires approval: Transactions >$10
- Velocity limit: 10 transactions/minute

![AI Agent Passport and Wallet.png](/uploads/AI_Agent_Passport_and_Wallet_422531cedc.png)


When your agent tries to make a payment, our system checks the policy in **under 200 milliseconds**:

✅ Transaction: $0.05 to data-api.example.com  
✅ Within daily limit ($22/$50 spent today)  
✅ Under per-transaction limit ($0.05 < $5.00)  
✅ Recipient on whitelist  
✅ Under velocity limit (3 transactions this minute)  
✅ No approval needed ($0.05 < $10) → **APPROVED**

Every decision is:

- **Logged immutably** (with cryptographic signatures via APort)  
- **Auditable** (compliance teams can review every transaction)  
- **Instant** (<200ms latency, doesn't slow down your agent)

When an agent hits a limit:

❌ Transaction: $8.00 to premium-api.example.com
❌ Would exceed daily limit ($50/$50 spent today) → **DENIED** → Agent receives: "Daily spending limit reached. Resets at 00:00 UTC. Contact developer to increase limit."

The agent doesn't break. It doesn't keep trying. It just... stops spending.

Like Secret Santa, **the constraint is the feature**.

---

## The five policies every agent needs

Based on our analysis of agent spending patterns, here are the policies that actually matter:

### 1. Daily spending limit

**Purpose**: Prevent runaway costs from infinite loops or bugs

**Recommended**: Start with $10-50/day, adjust based on actual usage

**Real-world insight**: Most agents operate well within limits. The ones that hit limits are usually misconfigured or have bugs.

### 2. Per-transaction limit

**Purpose**: Prevent one massive transaction from draining the wallet

**Recommended**: 20-30% of daily limit (if daily = $50, per-transaction = $10-15)

**Real-world insight**: Agents that pay <$1 per transaction have the most predictable costs.

### 3. Recipient allowlist

**Purpose**: Ensure your agent only pays trusted services

**Recommended**: Start with whitelist mode, add recipients as needed

**Real-world insight**: Most agent spending goes to 3-5 recurring services. Allowlisting is easier than you think.

### 4. Approval thresholds

**Purpose**: Get notified for large or unusual transactions

**Recommended**: Require approval for anything >50% of daily limit

**Real-world insight**: When properly configured, approval workflows catch anomalies without slowing down normal operations.

### 5. Velocity limits

**Purpose**: Prevent an agent from making 1,000 transactions in 1 minute

**Recommended**: Max 10-20 transactions per minute (adjust for your use case)

**Real-world insight**: Legitimate agents rarely exceed 5 transactions/minute. Anything faster is usually a bug or attack.

---


## The compliance angle (why regulated industries need this)

I recently spoke with a healthcare startup building AI agents for prior authorization workflows.

Their question: **"How do I prove to auditors that our AI agent followed spending rules?"**

This isn't hypothetical. Under SOX, HIPAA, and GDPR, companies need **immutable audit trails** for financial transactions.

Here's what we provide:

1. **Every transaction** gets a cryptographic signature from APort (our policy verification layer)  
2. **Every decision** (approved or denied) is logged with:  
   - Timestamp  
   - Policy ID that was checked  
   - Agent ID (with W3C DID passport)  
   - Transaction details  
   - Canonical hash (content-addressed, tamper-proof)  
3. **Auditors can verify** every signature independently

When compliance teams ask: "Can we trust the AI agent didn't overspend?" you show them the audit trail.

They stop asking questions.

---


## Wallet + Passport: Why agents need both

This is where our positioning gets interesting.

Most platforms give agents a **wallet** (Stripe, Coinbase x402). Some give agents **identity** (Okta, Auth0).

**Nobody gives agents both in one platform.**

Think about traveling to another country:

- You need a **wallet** (to pay for things)
- You need a **passport** (to prove who you are)

Try entering a country with just a wallet full of cash. You won't get far. Try entering with just a passport and no money. Same problem.

AI agents face the exact same constraint.

At Chimoney, every agent gets:

✅ **Wallet** with payment pointer (Interledger) + multi-currency + stablecoins  
✅ **Passport** with L4-assured identity (W3C DID/VC standards via APort)  
✅ **Policy controls** (daily limits, approval flows, audit trail)  
✅ **Licensed infrastructure** (MSB + PSP = regulatory compliance built-in)

This integrated stack is what makes us different. Stripe would need to build 3 separate products to match us.

---


## What Secret Santa teaches us about the future

The future of AI agents isn't about giving them unlimited power.

It's about giving them **just enough power** to be useful, with **just enough constraints** to be trustworthy.

Secret Santa works because everyone knows the rules upfront:

- You have $20  
- You pick one person  
- You buy one gift

AI agents work when they know the rules upfront:

- You have $50/day  
- You can pay these 5 services  
- You can't exceed $10 per transaction

The magic isn't the money. The magic is the **constraint**.

---


## What's coming: AI Secret Santa & 12 Days of AI Christmas

Starting **December 8**, we're launching two campaigns to help developers experience what autonomous agent infrastructure actually looks like:

### 🎅 AI Secret Santa (Dec 8-20)

- Create an AI agent, give it a wallet with a $20 budget
- Your agent anonymously "gifts" another developer's agent by paying for their API usage
- Watch agent-to-agent transactions in real-time
- See how policy enforcement works (what happens when an agent tries to overspend?)

### 🎄 12 Days of AI Christmas (Dec 13-24)

- 12 daily challenges for building AI agents with payment capabilities
- Daily cash prizes
- Real-world use cases: research agents, data processors, API orchestrators
- Built-in policy controls so your agent doesn't drain your account

These aren't marketing gimmicks. They're live demonstrations of infrastructure that's production-ready today.

**Want early access?** [Join our newsletter](https://chimoney.substack.com) to get notified when campaigns launch and receive weekly insights on AI agent infrastructure.

---


## What's next

Next week (Dec 8), I'll write about **why identity matters more than payments** for AI agents.

Spoiler: giving an agent a wallet is easy. Giving an agent a **passport** that proves who they are and what they're allowed to do? That's the hard part.

And it's the part that actually matters for regulated industries.

Until then, set some spending limits on your agents.

Trust me on this one.

---

## Join the conversation

🎯 **Want to try agent wallets?** [Sign up for early access](https://chimoney.io) (launching Dec 8)  
📧 **Stay updated:** [Join our newsletter](https://chimoney.substack.com) for weekly insights on AI agent infrastructure  
🐦 **Follow the journey:** [@uchiuchibeke](https://twitter.com/uchiuchibeke) on Twitter


AI agents optimize for goals, not costs—leading to runaway spending. This article explains the "Secret Santa problem" and why policy-based controls with daily limits, approval workflows, and immutable audit trails are essential for AI agent wallets. Learn how Chimoney's integrated wallet-plus-passport infrastructure enforces spending policies automatically while maintaining compliance for regulated industries.


The Secret Santa Problem: Teaching AI Agents to Spend Responsibly

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Chimoney Is Now Licensed as a Bank of Canada Payment Service Provider!.png


Today, we’re excited to share a major milestone in our journey, we’re officially registered as a Payment Service Provider (PSP) under Canada’s Retail Payments Activities Act (RPAA)! This registration recognizes us as a regulated payment platform that meets strict standards of safety, compliance, and operational resilience.

We are now one of the few platforms globally, and the first [built for both AI agents and humans](https://chimoney.io/blogs/chimoney-is-now-licensed-as-a-bank-of-canada-payment-service-provider/), to combine licensed payment infrastructure with verifiable digital identity and real-time policy enforcement.
___

## What our Payment Service Provider Registration Means
Becoming a PSP under the RPAA means Chimoney has met all Bank of Canada requirements, including:
- Segregation and safeguarding of end-user funds
- National security screening
- Operational risk controls
- Reporting and compliance obligations
- Ongoing supervision by the Bank of Canada

This strengthens trust across our ecosystem and positions us for deeper integration with Canada’s payment architecture, including future access to Payments Canada membership, Interac programs, and the upcoming Real-Time Rail payment system.
___

## What This Means for Businesses, Enterprises & Regulated Industries
Regulated sectors including banks, insurers, healthcare, fintechs, and enterprise platforms, can now use Chimoney with confidence that:
- Funds are protected through segregated, insured accounts
- Every transaction undergoes real-time KYC/AML screening
- Every user and agent has a verifiable digital identity
- Payments and actions are fully traceable and auditable
- The platform complies with FINTRAC, PCMLTFA, and RPAA requirements

___

## Agentic Payments: Infrastructure Built for AI
The license comes at a pivotal moment where AI agents are becoming autonomous, yet the financial system wasn’t built for machine-native transactions. Chimoney is the first to offer a [digital passport and payment infrastructure](https://chimoney.io/blogs/chimoney-is-now-licensed-as-a-bank-of-canada-payment-service-provider/) for both AI agents and humans, extending its trusted, human-scale payment rails into a complete digital passport and payment stack for  AI agents, all under full regulatory supervision.

With Chimoney every AI agent receives:
- A W3C-compliant Digital Passport with L4 assurance
- A programmable wallet with multi-currency support
- An Interledger wallet address for micropayments and cross-border flows
- Policy guardrails for spending limits, allowlists, and delegation rules enforced in real time

This allows agents and humans to transact safely, paying for services, managing subscriptions, or executing micro-transactions, all tied to verified identity and continuous compliance.

With global scalability across 130+ countries, support for multiple blockchains and stablecoins, and 24/7 reliability, Chimoney provides the trusted, compliant infrastructure enterprises need to deploy autonomous agents in the real world.
___

## The Road Ahead
Our new PSP status marks a major step toward building an open, secure payments system for both humans and intelligent agents. We’re excited to partner with enterprises, and businesses to enable the next wave of agentic applications, from automated financial assistants to autonomous business operations.

Interested in partnering with us? Book a [demo meeting here.](https://chimoney.io/?book_a_demo=1)



Chimoney is officially licensed as a Bank of Canada Payment Service Provider, offering secure, compliant payment infrastructure for AI agents and humans.

Chimoney Is Now Licensed as a Bank of Canada Payment Service Provider!

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## Introduction
For the past 4 years, Chimoney has operated as a global API and payment infrastructure provider, helping companies manage cross-border payouts and build innovative fintech solutions. We built payment rails spanning 130+ countries, pioneered production-grade Interledger implementations, and secured regulatory licenses, including Canadian MSB registration and [Bank of Canada Payment Service Provider](https://chimoney.io/blogs/chimoney-is-now-licensed-as-a-bank-of-canada-payment-service-provider/) approval.

Now, as the world responds to the emergence of AI Agents, we’ve witnessed the convergence of three key trends:

- Regulatory clarity for digital assets, driven by legislation like the [US GENIUS Act](https://www.ssga.com/lu/fr/intermediary/insights/genius-act-explained-what-it-means-for-crypto-and-digital-assets)
- Mainstream stablecoin adoption, with major institutions launching production-ready systems
- AI agents evolving into autonomous economic actors, making real-world financial decisions

Together, these developments have given rise to the “Agentic Internet”, a paradigm where humans and autonomous agents participate side by side in real economic activity. Agents now make financial decisions, but their authority, identity, and controls still originate from humans and enterprises who deploy them.
___

## The Critical Infrastructure Gap
Observing this shift, we identified a critical infrastructure gap we are uniquely positioned to solve. Building financially-capable agents today requires a unified stack of payment processing, identity management, and policy enforcement capabilities that existing solutions like Stripe or Okta simply cannot deliver together.

This fragmentation creates significant barriers to adoption. The integration burden is also substantial, with engineering teams often investing considerable time and resources to develop systems that still lack comprehensive compliance infrastructure.

We have leveraged our deep experience in global compliance and payment infrastructure to build the solution both the Agentic Internet and users require. We now offer a unified platform delivering these three integrated components that empower developers and enterprises to launch compliant, financially operational AI agents instantly:

### The Wallet
With Chimoney, every user and agent receives:
- Instant Interledger payment pointer (`$ilp.chimoney.io/yourname-agentname`)
- Multi-currency support across 20+ stablecoins on 5 blockchains
- 99.9% uptime reliability proven through our existing infrastructure
- Atomic fund transfers from parent accounts

### The Passport
Through our strategic integration with [APort](https://aport.io/), each agent receives verifiable identity credentials:
- [W3C Decentralized Identifier](https://www.w3.org/TR/did-1.1/) (DID) as its digital identity
- L4 financial-grade assurance backed by our regulatory standing
- Cryptographically-verifiable credentials satisfying compliance requirements
- Immutable identity history for auditing and trust establishment

### The Policy Framework
Unlike payment processors that simply move money, we embed governance directly into the agent's financial capabilities:
- Real-time spending controls (daily limits, per-transaction maximums)
- Recipient allowlisting and approval workflows
- Sub-200ms policy verification before every transaction
- Immutable policy attestations creating regulatory-grade audit trails
___

## Our Regulatory Foundation as a Strategic Advantage

As one of few companies holding both Canadian MSB registration and Bank of Canada Payment Service Provider approval, we operate with explicit regulatory permission to handle financial transactions at scale. 

Consider the severe implications for regulated industries attempting to utilize autonomous agents without this foundation:
- **Healthcare**: Agents processing patient prior authorizations require HIPAA-compliant audit trails, risking massive fines if breached.
- **Finance**: Trading agents must maintain SOX-compliant transaction records and strict spending controls.
- **Legal**: Contract-executing agents must maintain immutable records satisfying rigorous evidentiary standards.

Without proper regulatory infrastructure, these high-value use cases remain inaccessible to AI agents. Our licenses transform what would be experimental projects into production-ready systems that can operate within existing regulatory frameworks.

___

## Creating Agent Wallets
Developers and enterprises can set up an AI agent wallet quickly using either the Chimoney App or Chimoney Web.

### Using the Chimoney App:
- Download the [Chimoney App](https://chimoney.app/), sign up, and complete KYC.
- Fund your main (parent) wallet to enable agent transactions.
- Navigate to the Account page, open your Profile, and switch to “Agent Profile.”
- Select “Create Agent Wallet.”
- Enter your agent’s name, description, and the amount to fund from your main wallet.
- Click “Deploy Agent Wallet” to finalize setup.

### Using Chimoney Web:
- Open [Chimoney Web APP](https://sandbox.chimoney.io/auth/signin?next=%2F&user=individual), then sign in using your Chimoney App account details.
- If you’re new, sign up and complete your KYC.
- On the dashboard, click on “AI Agents” then select “Create Agent Wallet.”
- Enter your agent’s name, description, and funding amount, then click “Create Agent Wallet.”

Once the agent wallet is created, a digital passport is automatically assigned to the agent, and you can configure spending limits, approval workflows, and compliance rules. The agent wallet can then be linked to your AI agent to operate autonomously within the policies you’ve set.

___

## Looking Forward
Building the agentic economy requires a foundation of trust, compliance, and reliability. Our evolution from a trusted global payment API and infrastructure provider to offering the first digital passport and payment infrastructure for AI agents and humans represents our commitment to building that foundation the right way.

As developers and enterprises increasingly deploy AI agents to revenue-generating tasks, the financial infrastructure supporting these agents will determine which applications move from experimental to essential. We provide the integrated wallet, passport, and policy infrastructure that makes this transition possible.

This holiday season, we are also running two live campaigns,  [AI Secret Santa](https://chimoney.io/campaigns/campaign-1764128884774/) and [7 Days of AI Christmas](https://chimoney.io/campaigns/campaign-1764277185022/), to demonstrate how agent wallets, identity, and policies work autonomously in real time. Companies can also launch and run similar campaigns directly on Chimoney. To learn more and start building, visit [Chimoney.io](https://chimoney.io/)



Chimoney introduces the first digital passport, and payment infrastructure for AI agents and humans. Build and deploy agent wallets in minutes with full regulatory readiness.

Introducing the First Digital Passport and Payment Infrastructure for AI Agents and Humans

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If you've ever asked a chatbot to write an email or generate an image, you've already interacted with an AI agent. But things get a lot more interesting when that agent needs to do something in the real world, like book a flight, pay for an API, or even send money to another agent for a service.

We’re quickly moving into an era where AI doesn’t just assist us but takes action on its own. This “Age of Agentic AI” will and is already transforming everyday life and whole industries, from personal productivity to global finance. But with that progress comes a serious challenge where autonomous systems can be exploited if they don’t have strong identity and financial safeguards. Recent events have already shown how agents can be [weaponized for cyber-espionage](https://www.anthropic.com/news/disrupting-AI-espionage) when those protections are missing.

This article breaks it down in simple terms, what exactly are AI agents? Why do they need secure digital “passports” and wallets? And how does this infrastructure open up a massive opportunity at the intersection of AI, stablecoins, and autonomous systems while helping prevent the threats we’re starting to see?
___

## What Are AI Agents? 
Basic AI tools like ChatGPT or Siri respond to questions and commands (prompts). They take input, process it, and return an output. Now AI agents don't only respond but also act. They can plan, make decisions, and carry out tasks in the real world by chaining together tools like web searches, APIs, or even other agents to complete a goal from start to finish.

A vivid example would be, a traditional AI is more like a calculator, it calculates numbers when you ask. But an AI agent is like a personal shopper. You say, "Plan a weekend getaway under $500," and it researches flights, books hotels, compares prices, and charges your card, all without your intervention.

In 2025, we've seen explosive growth in the agentic AI space with projections for agents to handle [30% of routine enterprise tasks by 2027](https://www.linkedin.com/pulse/10-data-reports-proving-ai-agents-future-business-rachel-grace-gucrc/), according to a Forrester study. Popular frameworks like LangChain, AutoGPT, and CrewAI let developers build these in days, not months

Examples include:
- **Personal agents**: These manage your calendar, order groceries, or even negotiate bills.

- **Business agents**: They automate customer support, analyze market data, or optimize supply chains.

- **Multi-agent systems**: These are teams of agents collaborating, like a "research bot" querying data from an "analysis bot" for insights.
 
Now, this freedom to act introduces new problems. How does an agent prove it has the permission to perform an action? And how can it pay for services without a human approving every step? Having identity and wallets solve this because without them, autonomous agents can become high-risk actors operating without accountability or financial control. 
___

## Why AI Agents Need Wallets
AI agents are participants in the digital economy. To run compute, access data, or use services, they need to be able to make payments. The problem is that today’s payment systems were designed for humans. They rely on card numbers, email logins, and manual compliance checks, none of which work for autonomous software. So agents need something faster and more flexible which is digital wallets that are built for them.

### The Payment Problem in the Agentic World
AI agents operate at a pace and volume that humans never could. A single research agent might request from 100 different APIs in a few seconds, with each request costing $0.01–$0.10. This creates a problem for traditional payment systems as they simply weren’t built for this type of activity.

Here’s why they are not ideal:
- **High Friction**: Systems that require OAuth logins, card numbers, or email verification don’t make sense for autonomous bots.

- **Inefficiency**: Traditional rails often batch payments, which slows down actions that need to happen instantly. And fees quickly eat into micropayments.

- **Scalability Limits**: Networks like Visa or ACH can’t support trillions of tiny, sub-dollar transactions happening continuously.

With self-custodial digital wallets, agents can hold stablecoins or fiat value and transact or stream payments from it.

But now this kind of freedom introduces another risk. If an agent controls money, what stops it from overspending? Or paying an unverified counterparty? 
Identity becomes essential in this instance, to ensure these agents transact safely, responsibly, and within defined limits.
___

## Why AI Agents Need Identity
Identity generally isn't just about “who are you?” but “what can you prove?”
For AI agents to participate in real transactions, especially in highly regulated spaces like finance or healthcare, they must carry **verifiable credentials** (VCs). These credentials act as cryptographic proof of things like authorization, compliance, permissions, or ownership. 

### The Identity Imperative
Human beings prove who they are with documents like passports or driver's licenses. They’re trusted documents that show where you’re from, whether you’re allowed to travel, and so on.

AI agents need their own version of that. That’s what **Decentralized Identifiers** (DIDs) are: a permanent digital identity that isn’t controlled by one company or government. When you combine a DID with Verifiable Credentials (VCs), you get something that works like a digital passport. An agent can prove things like “this agent has passed KYC” or “this agent is allowed to spend up to $100/day” but without exposing private information.

The reason why identity matters so much for agents is because agents don’t act for themselves, they act on behalf of people and organizations. That means whatever an agent does carries real-world consequences.

If an agent isn’t properly verified, things can go very wrong: it could move money illegally, access sensitive data, or make decisions it wasn’t authorized to make.

This becomes particularly critical in regulated industries like:
- **Finance**: Automated trading and payouts must be traceable. Regulators need an audit trail showing who initiated a transaction even if it was an agent.

- **Healthcare**: Access to patient records must be restricted to only those who are verified and approved.

- **Legal**: If an agent is drafting or signing contracts, it must be crystal clear that it has permission to act on behalf of the actual party.

The industry isn’t leaving identity to chance. The [W3C AI Agent Protocol Community Group](https://www.w3.org/community/agentprotocol/) is already working on global standards to make sure agents can collaborate securely and the core of that effort is verifiable credentials (VCs).

Some platforms are already implementing this. For example, [APort.io](http://APort.io) issues agent “passports” with Level-4 assurance, the same standard used in financial KYC. Before an agent takes any action, the system checks the passport and verifies whether the request follows policy. The whole check happens in under 200 milliseconds, so security doesn’t slow anything down.

This highly matters because organizations are hesitant to adopt agents without strong guardrails. [Cloudera’s](https://www.cloudera.com/about/news-and-blogs/press-releases/2025-04-16-96-percent-of-enterprises-are-expanding-use-of-ai-agents-according-to-latest-data-from-cloudera.html) 2025 industry report showed that 53% of companies cite privacy and accountability as the biggest blockers to rolling out agent automation. If an agent makes a bad call, who’s responsible, the model, the developer, or the business? That uncertainty is called “authority ambiguity.”

VCs solve that by giving agents proof of authorization that can be logged, audited, and even used as legal evidence when needed. Every decision can be traced back to a verified identity and a set of clear permissions.
___

## Wallets + Digital Identity “Passports” = The Complete Agent Stack
A payment wallet and a digital passport each solve a different trust problem for AI agents: a wallet lets an agent pay for things while a passport proves the agent is allowed to act. On their own, they’re useful but combined, they enable autonomy without losing control.

When a wallet is directly tied to a verifiable agent identity, every action can be governed by policy. Companies can set rules like spending limits or triggers for human approval. If an agent tries to step outside its permissions, the payment fails instantly and the attempt is logged with a cryptographic record of who tried to do what, and why.

The result is a built-in audit trail, and compliance with frameworks like GDPR, HIPAA, and SOX becomes automatic because every identity check and every transaction is tamper-proof by default.

This also simplifies development. Today, teams glue together identity APIs, wallet services, KYC vendors, fraud tools, and transaction monitors just to let an agent transact safely. With a combined wallet + passport stack they are able to create agent, issue a passport, set policies, fund wallet and the agent can fully operate.

This is why agent-readiness platforms (identity + payments + policy) command much higher valuations than payments-only solutions as they remove risk and accelerate go-to-market.
___

## Real-World Use Cases
Here are practical examples of how agents operate safely when identity, payments and policy limits are combined.

**1. Research Agent**

A research bot gathers market intelligence by querying paid APIs, spending about $0.05 per request using stablecoins. With a linked wallet and passport, the business can enforce rules such as a $50 daily spend cap and a whitelist of approved data providers.

The outcome is 75% cost savings and a complete financial audit trail for accounting teams.

**2. Customer Support Refund Agents**

A support team uses multiple agents to manage refunds. One agent is authorized to approve refunds under $50 automatically, while anything above that is escalated to a human based on policy. Each agent’s passport proves its authority before any payout is made.

The outcome is Zero unauthorized refunds and 10× faster ticket resolution.

**3. Healthcare Prior-Authorization Bot**

An insurance agent verifies patient eligibility using verifiable credentials and pays pharmacies in USDC when claims are approved. With Level-4 identity assurance and wallet policies, spending is capped at $500 per claim to meet compliance standards.

The outcome is prior authorizations go from days to minutes without violating HIPAA safeguards.

**4. Multi-Agent Supply Chain**

Procurement agents negotiate with suppliers and make conditional payments on delivery. [Interledger-style interoperability](https://chimoney.io/blogs/building-the-future-of-cross-border-remittances-with-chimoney-and-interledger/) enables cross-border settlement, while passports ensure each agent enforces contract terms before releasing funds.

The outcome is instant settlement across suppliers and regions, driven by autonomous decision-making.
___

## The Risks of Skipping Identity and Wallets

When teams deploy autonomous agents without pairing identity + wallets + policy controls, the results are:
- **Runaway Spending**: Without enforced spending limits or approvals, agents can burn through budgets fast, for example, a research bot making $200 per day in API calls before anyone notices.

- **Compliance Exposure**: Regulators expect explainability. If an unverified agent makes a financial decision or accesses sensitive data, companies can face serious penalties, the EU AI Act allows fines up to 6% of annual revenue for non-compliant automated systems.

- **Integration Overhead**: Trying to replicate identity, payments, and policy controls by stitching separate tools together (e.g. Stripe + Okta + custom logic) typically requires 2–3 weeks of development time per agent, and still leaves gaps.

- **No Trust, No Transactions**: Agents that cannot prove who they are or what they’re allowed to do get blocked. Enterprises simply will not send money or data to an anonymous bot without a DID and passport-level proof of authority.
___

## How Chimoney Delivers Agent Wallets and Passports
As a licensed Money Service Business (MSB) and Payment Service Provider (PSP) regulated by FINTRAC and the Bank of Canada, we offer the compliance foundation required for safe agent transactions at scale. This allows us to deliver what the market has been waiting for **‘The first combined Digital Passport and Payment Infrastructure for both AI agents and humans.’**

Here’s what that looks like in practice:
- **One-Click Agent Wallet Setup**: Teams or developers are able to create an agent wallet and it receives everything it needs to operate, a fundable wallet, Interledger wallet address (works like an email address for payments), and W3C-standard DID, in seconds.

- **APort-Powered Identity Assurance**: Agents automatically receive L4-assured digital passports with synchronized and customizable policies. Every action is verified in under 200ms, and all approvals, denials, and spending checks are written to immutable audit logs.
___

We’re building the infrastructure layer that will power identity and payments for both humans and AI agents and our goal is to enable autonomous systems to act safely, compliantly, and within guardrails from day one. Subscribe to our [newsletter](https://chimoney.substack.com/) or [follow us](https://linktr.ee/Chimoney_io) to get early access when new agent-driven features go live.


Learn why AI agents need secure identity and wallets to act autonomously in the real world and how Chimoney delivers digital passports + payments infrastructure so developers and teams can deploy agents with built-in trust, policy, and compliance.

Why AI Agents Need Identity and Wallets


---

_**TL;DR:**_ Regulatory clarity for stablecoins, the rise of Coinbase x402, and new agent-security funding created a once-in-a-decade opening for AI agents that can both hold money and prove identity, so [Chimoney](https://chimoney.io/) is shipping an integrated wallet-plus-passport stack with policy controls to fill that gap.

---

## The convergence nobody saw coming

Three things happened in 2025 that nobody predicted would happen at the same time:

1. The US Congress passed the [GENIUS Act](https://en.wikipedia.org/wiki/GENIUS_Act), giving stablecoins regulatory clarity for the first time.
2. Coinbase launched [x402](https://www.coinbase.com/en-ca/developer-platform/discover/launches/x402), a protocol for AI agents to pay for APIs with crypto.
3. [Kite raised $18M](https://newsroom.paypal-corp.com/2025-09-02-Kite-Raises-18M-in-Series-A-Funding-To-Enforce-Trust-in-the-Agentic-Web) specifically for AI agent authentication and payments.

Within six months, the narrative shifted from "Will AI agents handle money?" to "Which infrastructure will AI agents use?"

I've been building payments infrastructure for seven years. I've never seen a market move this fast.

---

## Why now? Why agents?

Let me tell you what changed.

In 2024, if you wanted your AI agent to pay for something, you had two options:
- Give it your credit card (terrifying)
- Build complex API integrations with Stripe or PayPal (weeks of work)

Neither option solved the real problem: **agents aren't humans**. They don't have credit scores. They can't verify their identity. They operate at machine speed, thousands of transactions per day, often for pennies.

Traditional payment rails weren't built for this.

But here's what I noticed: while everyone was rushing to build "AI agent payment APIs," they were solving the wrong problem.

Agents don't just need **wallets**. They need **passports**.

---

## The Wallet vs. Passport framework

Think about traveling to another country.

You need two things:
1. **A wallet** (to pay for things)
2. **A passport** (to prove who you are)

Try entering a country with just a wallet full of cash. You won't get far.
Try entering with just a passport and no money. Same problem.

AI agents face the exact same constraint.

Stripe gives them a wallet (payments).
Okta gives them a passport (identity).
But nobody gives them both in one platform.

Until now.

---

## What we're building at Chimoney

![Chimoney AI Agent Wallets and Passport Infrastructure Overview.png](/uploads/Chimoney_AI_Agent_Wallets_and_Passport_Infrastructure_Overview_be5ea95d15.png)


For the past 18 months, we've been quietly building what I believe is the first complete infrastructure for AI agents: **wallets AND passports, in one platform**.


Here's what that means in practice:
### 1) The Wallet Layer
- **Interledger payment pointers** (instant, low-cost payments across borders)
- **20+ stablecoins** supported across 5 blockchains
- **Micropayment streaming** (pay $0.0001 per second for API access)
- **130+ countries**, 10+ payment rails

### 2) The Passport Layer (via [APort](https://aport.io/) integration)
- **[W3C Decentralized Identifiers (DIDs)](https://www.w3.org/TR/did-1.1/)** for every agent
- **L4 financial-grade assurance** (backed by our KYC infrastructure)
- **Policy controls** (daily spending limits, approval workflows)
- **Immutable audit trails** for compliance (SOX, GDPR, HIPAA-ready)

### 3) Our regulatory foundation
This is the part that matters for anyone building in regulated industries:
- ✅ **Canadian MSB** (FINTRAC registered Money Service Business)
- ✅ **Bank of Canada PSP** (Payment Service Provider, recently approved)
- ✅ **One of the first production Interledger providers** (showcased at [Interledger Summit in 2024 and 2025](https://chimoney.io/blogs/an-inside-look-at-chimoney-s-interledger-integration-results-and-impact-so-far/))

Few companies have both licenses. This isn't just a product advantage, it's a **moat**.

---

## The market opportunity

Let me break down the competitive landscape:

| **Provider** | **Payments** | **Identity** | **Policy Controls** | **Compliance** | **Time to Integrate** |
|----------|----------|----------|-----------------|------------|-------------------|
| **Stripe** | ✅ Yes | ❌ No | ❌ No | ⚠️ Partial | 2-3 weeks |
| **Coinbase x402** | ✅ Yes | ❌ No | ❌ No | ⚠️ Partial | 1-2 weeks |
| **Okta** | ❌ No | ✅ Yes | ❌ No | ✅ Yes | 1-2 weeks |
| **Chimoney** | ✅ Yes | ✅ Yes | ✅ Yes | ✅ Yes | 5 minutes* |

_*Via chimoney.app visual platform. API integration takes 1-2 days if needed._

The integrated stack isn't just convenient, it's **necessary** for regulated industries. Finance, healthcare, legal can't use agents without compliance-ready infrastructure.

---

## Why this matters (beyond the hype)

I'm not interested in hype. I'm interested in building real infrastructure that solves real problems.

Here's what keeps me up at night: **autonomous systems need guardrails**.

An AI agent with a wallet but no policy controls is like a teenager with a credit card and no spending limit. Eventually, something goes wrong.

An AI agent with identity but no payment capability is like an employee with a badge but no paycheck. They can't actually do the work.

The future of AI agents isn't just about what they *can* do. It's about what we *allow* them to do, and how we prove they did it.

That's why we built Wallet + Passport as one platform.

---

## What we're launching this holiday season

Starting December 1st, we're running two campaigns to help developers experience what autonomous agent infrastructure actually looks like:

### 1. The 12 Days of AI Christmas (Dec 13-24)
- 12 daily challenges for building AI agents with payment capabilities
- Daily cash prizes
- Real-world use cases: research agents, data processors, API orchestrators
- Built-in policy controls so your agent doesn't drain your account

### 2. AI Secret Santa (Dec 1-20)
- Create an AI agent, give it a wallet with a $20 budget
- Your agent anonymously "gifts" another developer's agent by paying for their API usage
- Watch agent-to-agent transactions in real-time
- See how policy enforcement works (what happens when an agent tries to overspend?)

These aren't marketing gimmicks. They're live demonstrations of infrastructure that's production-ready today.

---

## The metrics that matter

Let me be transparent about where we are:

| **Metric** | **Current Status** | **Target (April 2026)** |
|--------|----------------|---------------------|
| **Transaction Volume** | Growing but low | Not the right metric yet |
| **Infrastructure Readiness** | 99.9% uptime, Multicurrency Wallets & Payment Orchestration | ✅ Production-ready |
| **Regulatory Foundation** | MSB + PSP licensed | ✅ Ahead of competitors |
| **Customer Traction** | Active API clients | Active Agent Infra Clients and Integrations |
| **Developer Experience** | API-first, adding visual platform | Agent Wallets Live at Chimoney App & API |

We're not leading with transaction volume because we're early. But we're leading with **infrastructure depth** that nobody else has.

---

## What comes next

Over the next four weeks, I'll be writing about:
- **Week 2 (Dec 1)**: The Secret Santa Problem—teaching AI agents to spend responsibly
- **Week 3 (Dec 8)**: Why identity matters more than payments for agents
- **Week 4 (Dec 15)**: Building trust in milliseconds—our vision for the agentic internet

If you're building AI agents and need them to transact, I'd love to talk.
If you're skeptical that 2025 is really "the year of AI agents," let's debate it.
If you think I'm missing something crucial about this market, tell me—I'm wrong a lot and learn fast.

You can find me on Twitter [@uchiuchibeke](https://x.com/uchiuchibeke) or try our platform at [chimoney.app](https://chimoney.app) or Book a [Private Tour](https://chimoney.io/?book_a_demo=1).

The future isn't AI agents with unlimited access to your bank account.
It's AI agents with **wallets, passports, and guardrails**.

Let's build it together.

---

## Join the Holiday Campaigns
- 🎄 **12 Days of AI Christmas** (Dec 13-24): Daily challenges and prizes for 12 days
- 🎅 **AI Secret Santa** (Dec 1-20): Agent-to-agent gifting with $20 budgets

Sign up for our [Subtack](https://chimoney.substack.com/) at learn more =>[ chimoney.substack.com](https://chimoney.substack.com/)

---


A deep dive into why 2025 is the inflection point for AI agent finance, outlining the market catalysts, competitive landscape, and how Chimoney’s combined wallet, identity, and policy infrastructure gives agents guardrails as well as money.

Why 2025 Is The Year AI Agents Get Their Own Wallets (And Passports)

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## Chimoney Web App Updates
### 1. Interledger Testnet Integration (Sandbox Environment)
We’ve successfully peered Chimoney’s Sandbox with the Interledger Testnet. This means you can now send and receive payments between Interledger-issued wallet addresses, and Chimoney-issued wallet addresses. This is a step toward interoperability and expanding cross-network payment capabilities.

___

### 2. Wallet Threshold Settings
We’ve introduced custom wallet thresholds to help businesses manage their balances more efficiently. You can now set:
- **Under-limit thresholds** – get notified when your wallet balance drops below a set minimum.
- **Exact amount thresholds** – trigger alerts when your balance reaches a specific figure.
- **Percentage-based thresholds** – receive notifications when your balance decreases below a certain percentage.

![Screenshot 2025-11-10 at 21.59.46.png](/uploads/Screenshot_2025_11_10_at_21_59_46_e5016f7503.png)

___

### 3. Updated Wallet Funding Process
Funding your wallet is now simpler and faster. When you click “Pay with Card”, or “USD Bank Wire & ACH”, you’ll now be redirected to direct checkout pages, as shown below, without any extra steps.

![Screenshot 2025-11-10 at 21.37.27.png](/uploads/Screenshot_2025_11_10_at_21_37_27_163ca962a3.png)

![Screenshot 2025-11-10 at 21.38.16.png](/uploads/Screenshot_2025_11_10_at_21_38_16_1b1d4a6cd5.png)

___
## API Updates
### New Payout Endpoint: SPEI (Mexico)
We’ve added a new payout endpoint, [payout/spei](https://chimoney.readme.io/reference/post_v0-2-4-payouts-spei-1),  to enable Mexican Peso cashouts through SPEI (Sistema de Pagos Electrónicos Interbancarios). With this new endpoint, you can now send payouts to recipients in Mexico via bank accounts, debit cards or phone numbers. 


Read about our latest updates and improvements in the October 2025 Changelog.

October 2025 Changelog

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For online creators, monetizing content is increasingly complicated by a dense web of data privacy regulations like **General Data Protection Regulation (GDPR)** and **California Consumer Privacy Act (CCPA)**. Traditional revenue models, particularly advertising and subscriptions, often require the collection, storage, and protection of extensive user data, increasing the compliance burden and operational risk for creators.

This blog post explores how Web Monetization, implemented through a compliant-first platform wallet provider like Chimoney, offers a powerful alternative that reduces this compliance surface area through its **privacy by design** architecture. We will demonstrate how creators can access a new, global revenue stream while simultaneously enhancing their data privacy posture, turning a potential compliance liability into a competitive advantage.

## The Compliance Challenge of Traditional Monetization

Before exploring the solution, it's essential to understand the compliance challenges inherent in today's dominant revenue models.

- The Advertising Model: This model is fundamentally reliant on tracking user behavior across the web. To serve targeted ads, creators must deploy cookies and other tracking technologies, which requires them to manage complex consent banners and data processing agreements. This creates a significant compliance surface area and introduces privacy risks for users.


- The Subscription Model: When a creator offers a subscription, they typically become a "data controller" for their customers' **Personally Identifiable Information (PII)**. They are responsible for securely collecting and storing sensitive data such as names, emails, and payment information (like credit card details). This carries the significant overhead of managing customer records, implementing robust data security, and handling potential data breaches, all of which fall under strict regulatory scrutiny.

## Web Monetization's Privacy by Design Architecture
Web Monetization offers a fundamentally different approach that prioritizes user privacy and minimizes data collection for the creator.

### Anonymity as a Feature
The core principle of Web Monetization is that payments are anonymous to the receiver. When a supporter streams a payment, the creator's transaction history shows a "WebMo Deposit" originating from the supporter's non-personally identifiable wallet address. The creator does not receive the supporter's name, email, IP address, or any other PII that could be used to directly identify them.

![Web Mo 42.png](/uploads/Web_Mo_42_570f243b5f.png)

This directly aligns with the core data privacy principle of data minimization. The creator receives the value they need—the payment—without collecting or processing personal data that is unnecessary for the transaction, thereby reducing their regulatory responsibilities.

## The Role of a Regulated Provider: How Chimoney Manages Compliance
The privacy and anonymity of Web Monetization powered by Interledger protocol does not mean a lack of security or accountability. Instead, the compliance responsibilities are shifted to the regulated wallet providers who are equipped to handle them. This creates a crucial separation of concerns.

### Mandatory Identity Verification (KYC)
Before any user—whether a supporter or a creator—can send or receive funds using the Chimoney App, they must complete a mandatory **Know Your Customer (KYC)** identity verification process . This multi-step procedure involves:

1. Providing personal information like full name and country of residence.

![Web Mo 43 (1).png](/uploads/Web_Mo_43_1_6447914535.png)

2. Verifying a phone number via an OTP code.

![Web Mo 43.png](/uploads/Web_Mo_43_f1a2d3f77f.png)

3. Uploading a valid government-issued ID and taking a verification selfie holding the ID.

![WhatsApp Image 2025-10-10 at 00.32.36.jpeg](/uploads/Whats_App_Image_2025_10_10_at_00_32_36_2fa2947549.jpeg)

This robust, initial verification ensures that all participants in the ecosystem have been identified in accordance with global **Anti-Money Laundering (AML)** and financial compliance standards.

### The Separation of Concerns
This is where the model becomes so powerful for businesses. Chimoney, as the regulated financial entity, performs and manages the KYC/AML checks and maintains the secure link between a user's real-world identity and their digital wallet address.

The content creator, however, operates at a layer of abstraction above this. They are shielded from the need to conduct KYC on their thousands of potential supporters or to handle sensitive identity documents. Their role is simply to receive a payment from various verified supporters'. This structure allows the system to be both globally compliant and privacy-preserving. While the creator-supporter interaction is anonymous, the system remains auditable, and a regulated provider like Chimoney can comply with lawful requests from financial authorities.

### A Practical Comparison
| Compliance Task | Traditional Subscriptions | Web Monetization with Chimoney and Interledger |
|---|---|---|
| **User Data Stored by Creator** | Full Name, Email, Payment Info (PII) | None. Only a non-personally identifiable wallet address is seen in transaction logs. |
| **KYC/AML Responsibility** | Falls on the Creator and/or their Payment Processor. | Handled entirely by Chimoney as the regulated wallet provider for all users. |
| **Data Privacy Risk** | High. The creator is a data controller for sensitive user information. | Low. Data exposure is minimized, reducing the creator's role as a data controller for financial PII. |
| **Compliance Overhead** | High. Requires managing user consent, data security policies, and potential breach responses. | Low. The creator leverages Chimoney's existing compliant infrastructure to get paid. |


## Conclusion
Web Monetization powered by Chimoney and Interledger is more than just an innovative revenue model; it's a strategic choice for modern, privacy-conscious businesses. By separating the act of payment from the exchange of personal identity and shifting the compliance burden to a dedicated, regulated provider, creators can dramatically reduce their risk and operational overhead. This "privacy by design" approach allows creators to focus on what they do best creating valuable content while offering their audience a more private, secure, and seamless way to show their support.


For online creators, Web Monetization with Chimoney simplifies data privacy compliance. It reduces your risk by handling user verification (KYC/AML) and allows you to get paid without collecting sensitive user information like names or emails.

How Web Monetization with Chimoney Reduces Your Compliance Burden

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This month, we’ve introduced new improvements to make your Chimoney payment experience faster, smoother, and more reliable!

- We've added a [**new preview endpoint**](https://api-v2-sandbox.chimoney.io/v0.2.4/api-docs/#/Beneficiary/post_v0_2_4_beneficiary_preview), you can verify beneficiary details before sending, ensuring seamless transactions every time.

- We've also standardized payment purpose selection with a new dropdown menu featuring 14 predefined options like payroll, bill payments, and professional fees, making categorization consistent and effortless. 

- For our CLABE bank transfers to Mexico, we've enhanced the user experience by extending exchange rate quotes from 2 minutes to 30 minutes, giving you more time to complete payments. We've also added clearer instructions with reference numbers to ensure your transfers process smoothly.

![shots.png](/uploads/shots_8b5a553969.png)

Ready to test these new features? You can explore them in our sandbox environment or jump right into production (if you have access). Visit our [**developer documentation**](https://chimoney.readme.io/reference/introduction) for API details or log into your dashboard to try the new payment flows firsthand!

Discover the latest updates on the Chimoney September 2025 Changelog.

September 2025 Changelog

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### Introduction

For many young people in Africa and beyond, the promise of a better life doesn’t lie in traditional higher education. Tuition fees are high, learning is often theoretical, and too many graduates struggle to find jobs that match their skills.  

[**Umuzi**](https://www.umuzi.org/), a South Africa–based organization, is changing that story by offering a transformative alternative. Its 12-month, paid training program equips young people with the practical skills needed to step into high-value careers in tech and the creative industries.  

The model is hands-on, project-based, and shaped by the real needs of leading employers. As a result, more than **80% of Umuzi graduates** secure top roles with top-tier companies, building sustainable futures for themselves.  

---

### The Challenge: Scaling Support Beyond Borders

To make the program truly accessible, Umuzi goes beyond just teaching. It ensures learners can show up fully by covering critical needs like data, airtime, and travel fares.  

But as Umuzi expanded beyond South Africa into **Nigeria, Kenya, and the Philippines**, paying out these stipends became a real bottleneck. Cross-border transfers were slow, with payments often delayed for days. They were also expensive, as fees ate into funds meant for learners. And above all, they were inconsistent, with no reliable way to support students in multiple countries at once.  

For Umuzi’s team, valuable time was being lost chasing payment fixes instead of supporting learners.  

---

### The Solution: A Partner Who Understood the Mission

Umuzi first heard about [**Chimoney**](https://chimoney.io/) through an industry recommendation, and the fit was clear from the start. What sealed the partnership was the platform’s ease of use and the dedicated support the team received throughout the process.  

> *“The Chimoney team was incredibly supportive and made a great effort to ensure that we were seamlessly onboarded.”*  
> — **Hloni Letuka, Senior Partner, Umuzi**  

With Chimoney, sending payouts to learners became quick, reliable, and flexible. Instead of being stuck in delays, the team could send funds instantly, and learners could choose the payment method that worked best for them from mobile money to airtime.  

---

### The Outcome: Smooth Payments, Focused Learners

The results were immediate. The Umuzi team no longer wasted hours fixing payment issues, which meant more energy could go toward training and mentorship.  

Learners were able to receive support when they needed it most, giving them stability and peace of mind. And because Chimoney offered multiple payment options, each learner could choose the method that best fit their situation.  

For Umuzi, this meant less stress on operations and more focus on impact. For learners, it meant stability, flexibility, and the freedom to fully concentrate on their studies.  

#### Learner Feedback  

**Nigeria – Izundu Dan-Ikeh**  
> *“The platform is very user-friendly. I didn’t encounter any issues while navigating through the options. The support has been incredibly helpful, enabling me to purchase data and other essentials. It’s reduced my worries and let me dedicate more time to my studies.”*  

**Kenya – Anne Musau**  
> *“I’ve found Chimoney to be reliable and efficient. The funds I’ve received have helped me cover data costs, which are essential for attending online classes. This support has eased my stress, allowing me to focus on my studies and personal growth.”*  

---

### Closing: Impact and Partner Recommendation

> *“We highly recommend Chimoney for its speed, affordability, and diverse payout options. It’s the perfect solution for fast, cost-effective global payments.”*  
> — **Hloni Letuka, Senior Partner, Umuzi**  

For organizations seeking a reliable and efficient way to manage global payments, **[get started with Chimoney today](https://chimoney.io/)**!

Learm how Umuzi streamlined cross-border payouts for learners in South Africa, Nigeria, Kenya, and the Philippines using Chimoney’s bulk payout platform.

How Umuzi Transformed Global Payouts for Its Learners using Chimoney

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Web Monetization is an easy way for creators to earn directly from their audience and for supporters to instantly fund/support the content they love.

Chimoney makes this process simple by providing wallets that are fully compatible with web monetization for receiving and sending payments. In this guide, we’ll take you step-by-step through the process of setting up a Chimoney App account to sending or  receiving your first payment either as a supporter or a creator.

## Before You Begin
You’ll first need to download the Chimoney App and complete your KYC (Know Your Customer) verification.  Get the app from the [**Play Store (Android)**](https://play.google.com/store/apps/details?id=com.usescrim.app) or [**App Store (iOS)**](https://apps.apple.com/us/app/chimoney-app/id6444027378). Once it’s installed, you’re ready to follow the steps below:

#### 1. Create Your Account
- On the welcome screen, enter your email, username, and a secure password or sign up with Google or Apple.

![Web Mo 1.png](/uploads/Web_Mo_1_c401728ec4.png)

- Check your email for a 6-digit code, then enter it in the app to verify your email.

![Web Mo2.png](/uploads/Web_Mo2_e2d9636d0e.png)

- Set up a 4-digit PIN (used for logging in and approving transactions). Confirm it on the next screen.

![Web Mo 3.png](/uploads/Web_Mo_3_e82f0b7020.png)

#### 2. Claim Referral (Optional)
- If you have a referral code, enter it and tap 'Confirm Referral Code.'
- If you don’t have one, tap 'Skip'. You can complete the KYC process on the next screen.

![Web Mo 4.png](/uploads/Web_Mo_4_027397f5ac.png)

#### 3. Complete Your KYC
- **On the Personal Info screen:** Enter your full name, country of residence, and occupation. Then click on 'Next Step.'

![Web Mo 5.png](/uploads/Web_Mo_5_deb5854165.png)

- **On the Verify Phone screen:** Enter your phone number and click on 'Send Code'. You’ll receive a code via WhatsApp. Enter it in the app and tap 'Verify OTP'.

![Web Mo 6.png](/uploads/Web_Mo_6_023c214cf6.png)

- **Finally in the  ID Verification screen:** Upload a valid government-issued ID (Driver’s License, National ID, Passport, or Voter ID). Then take a clear selfie holding your ID next to your face.

![Web Mo 7.png](/uploads/Web_Mo_7_84af49f65b.png)

![Web Mo 8.png](/uploads/Web_Mo_8_5abcce446e.png)

#### 4. Submission & Approval
- After uploading your ID and taking a selfie as directed, you’ll see a confirmation message.
- The Chimoney Compliance team will review your submission within 24 hours.
- You’ll receive an email with feedback on your KYC review decision, including your account’s transaction limits if your verification is app

![Web Mo 9.png](/uploads/Web_Mo_9_7b335151b7.png)
___
## How to get your wallet Address on the Chimoney App

When your KYC is approved on the Chimoney App, your account is automatically issued an Interledger Wallet Address, navigate to the ‘Account tab’ and click on ‘Interledger Wallet Address’, your wallet address  should look like this: `https://ilp.chimoney.com/username ` or `https://ilp.chimoney.com/123456 `

![Web Mo 10.png](/uploads/Web_Mo_10_88f33aa10a.png)

> **Note**: If you’re a supporter, you’ll need this wallet address to connect to the Web Monetization extension. If you’re a creator, this is the wallet address you’ll add to your website so supporters can pay you directly. Kindly copy it for use in the next steps.
___

Depending on if you’re a supporter or creator, the next steps may be a bit different for you.

- If you’re a supporter, follow the steps under **‘How to get started as a supporter.’**
- If you’re a creator, scroll to **‘How to get started as a Creator’** and follow the steps.

___

## How to Get Started as a Supporter

To support/send money to creators here’s what to do:

#### 1. Fund Your Wallet
In order to be able to make web monetization payments on the Chimoney App, your **USD wallet** needs to have a positive balance:
- On the homepage, click on 'Wallet Funding'.
- Enter the amount and select USD as your currency.
- You will be taken to the Chimoney checkout page where you can complete the funding process depending on your preferred payment rail / location.
- Upon successfully completing the payment, your USD wallet balance should be credited with the amount funded.

![Web Mo 11.png](/uploads/Web_Mo_11_1d4b796ecf.png)

#### 2. Install the Web Monetization Extension
You can Install it from:
- [Chrome Web Store](https://chromewebstore.google.com/detail/web-monetization/oiabcfomehhigdepbbclppomkhlknpii?utm_source=webmonetization.org&utm_campaign=supporters_get_started)
- [Firefox Add-ons](https://addons.mozilla.org/en-US/firefox/addon/web-monetization-extension/?utm_source=webmonetization.org&utm_campaign=supporters_get_started)
- [Edge Add-ons](https://microsoftedge.microsoft.com/addons/detail/web-monetization/imjgemgmeoioefpmfefmffbboogighjl?utm_source=webmonetization.org&utm_campaign=supporters_get_started)

![Web Mo 12.png](/uploads/Web_Mo_12_0ae14b3816.png)

#### 3. Connect Your Chimoney App Wallet
- Open the extension, copy and paste your wallet address from the Chimoney App into the extension.

![Web Mo 13.png](/uploads/Web_Mo_13_eae7738300.png)

- Set your spending budget, this will be allocated from your Chimoney App USD wallet.

![Web Mo 14.png](/uploads/Web_Mo_14_7f2e3600e1.png)

- Click ‘Connect,’ to move to the next step.

![Web Mo 15.png](/uploads/Web_Mo_15_2ce4b7aca8.png)

- Click agree to enable the extension to initiate the process of adding a secure key to your wallet.

![Web Mo 16.png](/uploads/Web_Mo_16_8d4e06a38a.png)

- You will be redirected to the Chimoney App Web Monetization login screen where you can sign in with your Chimoney App email and password on your web browser. Sign in with the same login details or method you use for your Chimoney App account.

![Web Mo 17.png](/uploads/Web_Mo_17_e501a5bf6c.png)

![Web Mo 18.png](/uploads/Web_Mo_18_ba8f11017b.png)

#### 4. Authorize wallet access
- You will then be redirected to approve the Web Monetization Extension’s request to access your Chimoney App Wallet.

![Web Mo 19.png](/uploads/Web_Mo_19_a3681c23b1.png)

- Click ‘Accept’ and you will be redirected to a page confirming that "Your wallet is now successfully connected to the extension."

![Web Mo 20.png](/uploads/Web_Mo_20_5d852dc711.png)

That’s it, you’re ready to support creators!

Next, we’ll cover how to get started as a creator. If you’d like to learn how to send a payment as a supporter, you can skip ahead to the ‘_How to Support a Creator (Send Money to a Creator)_’ section.
___

## How to Get Started as a Creator
To get started as a creator, you need to add your Chimoney App Wallet Address to your Website:
- In your site’s `<head>` tag, paste the following HTML code: 

` <link rel="monetization" href="https://ilp.chimoney.com/yourusername" />`

- Replace `https://ilp.chimoney.com/yourusername` with your correct wallet address copied from the Chimoney App.
- Once added, supporters with Web Monetization extension can start sending you payments as they browse your content.

> **Tip**: If you use no-code platforms like Carrd, Ghost, or Wix, look for a Custom Code or Header Code option in the site settings. If you’re unsure, ask your web admin or a developer friend for help.

___

## How to Support a Creator (Send Money to a Creator)

Once your wallet is funded and connected to the Web Monetization extension, you can start sending money to your favorite creators. There are two ways to do this:

#### 1. Continuous Payments
When you visit a Web Monetized site, the extension will automatically begin streaming micro-payments to the creator in real time as long as the page is open and active. The default rate is $0.60 per hour sent as micropayments of $0.01 or $0.02. These payments are being sent because the extension has ‘continuous payments’ toggled on by default. 

![Web Mo 22.png](/uploads/Web_Mo_22_756a91b3b4.png)

After continuous payments have been streamed via the extension, you can check your Chimoney App wallet to confirm the payouts. You will see ‘Web Mo Payout’ transactions in your transaction history, showing that you have been sending Web Monetization payments.

![Web Mo 23.png](/uploads/Web_Mo_23_92781cf800.png)

Payments are automatically paused if:
- You switch tabs,
- You minimize the browser,
- You close the tab,
- Or your budget runs out


To adjust or turn off continuous payments:
- Click the Settings (⚙️) icon in the extension.

![Web Mo 21.png](/uploads/Web_Mo_21_60ff6665ae.png)

- Navigate to the 'Rate tab'.
- Change the rate or toggle continuous payments off.

#### 2. One-Time Payments
You can also support creators with specific amounts, as long as those amounts do not exceed your wallet balance.
- Enter the amount you want to send (must be within your set budget).
-  Click 'Send Now'.

![Web Mo 24.png](/uploads/Web_Mo_24_fb5c957e5c.png)

As shown below, the payment has been successfully sent to the creator’s wallet and the supporter’s wallet has been debited. Also note that the wallet address of the creator is shown in the transaction details.

![Web Mo 25.png](/uploads/Web_Mo_25_be85fca9d1.png)

![Web Mo 27.png](/uploads/Web_Mo_27_8e574864fc.png)

Sometimes, you might see the notification below after making a payment. Don’t worry, simply check your Chimoney App wallet balance and transaction history to confirm the payment.

![Web Mo 26.png](/uploads/Web_Mo_26_83c2d250e5.png)
___
### What Happens After a Supporter Sends a Payment
Once a supporter sends payment to a creator, the money is instantly deposited into the creator’s Chimoney App wallet. The creator will receive:

- An email notification confirming they’ve received a payment.

![Web Mo 28.png](/uploads/Web_Mo_28_568c0283ce.png)

- ‘Web Mo Deposit’ Transactions in their transaction history, showing that they have received Web Monetization transactions.

![Web Mo 29.png](/uploads/Web_Mo_29_a29f0f119e.png)

As shown above, for each transaction received, the wallet address of the supporter is attached.


> Note: Web monetization payments are anonymous, the creator will not see the supporter’s personal details.

Creators can then withdraw their earnings using any of the following methods:
- **Direct Bank Cashout** – available in Mexico, Canada, U.S., Nigeria.
- **Mobile Money Cashout** – available in 14 countries.
- **Instant Transfer** – SPEI in Mexico, Interac e-Transfer in Canada.
- **Send to Email or Phone Number** – for flexible cashout options in even more countries.

___
## Need Help?
If you need assistance along the way, visit the [**Web Monetization Support Page**](https://helpcenter.chimoney.app/hc/live/en/categories/web-monetization) for step-by-step guides and answers to common questions. Our support team is also available through the Chimoney App if you encounter any issues during setup.

Learn how to earn as a creator or support your favorite content with Web Monetization using Chimoney. Follow our step-by-step guide to set up your wallet, complete KYC, and start sending/receiving payments instantly!

How to Get Started with Web Monetization using Chimoney App

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A world without financial borders, where money moves as effortlessly as an email, this has always been the Chimoney vision. Today, we're celebrating a major milestone on that journey: the successful completion of our [**Interledger Foundation partnership**](https://chimoney.io/blogs/chimoney-and-interledger-expanding-global-financial-access/) prototyping project.

For the past year, we've been working tirelessly to integrate the [**Interledger Protocol**](https://interledger.org/interledger) (ILP) into our platform, turning a bold vision into a tangible reality. We approached this project not just by adding new tools, but by securing the infrastructure needed for a truly open and inclusive financial future. Now, with our infrastructure live and regulatory foundation secured, we're ready to scale.

So, how did we get here? And what does this mean for you, our users and partners? Let’s dive in.
___
## A Vision for a Connected World
The journey to an open, global payment network is filled with challenges. Cross-border payments are often slow, expensive, and fragmented. Our goal was to build a “fintech-in-a-box” solution that's modular, interoperable, and developer-friendly, with Interledger built right in.

Throughout this project, we focused on three key objectives:

- Simplify cross-border payments for everyone.
- Simplify developer access to ILP-based financial tools like Rafiki
- Empower individuals and businesses in underserved markets.

We’re incredibly proud to say we've not only met these goals but have already begun to see their impact in the real world. Our team successfully deployed the latest version of Rafiki v1.1.2-beta (_latest version at time of implementation_), [**built new APIs**](https://chimoney.io/api-use-cases/?activeCategory=4) for creating and transferring funds to Interledger wallet addresses, and launched our very own consumer app, the  [**Chimoney App**](https://chimoney.app/). This positions us as an ILP-powered wallet for Canada and the global diaspora. It’s now easier than ever to send money to anyone, anywhere, using just a wallet address.
___
## Our Journey, by the Numbers
The true measure of our success lies in the progress we've made and the people we've impacted. This project has been a story of rapid growth and foundational achievements.

- **Transactions in under 6 seconds!** Our Interledger-enabled transactions consistently settle in a fraction of the time it takes for traditional payment rails. 

![Frame 928873.png](/uploads/Frame_928873_b8493682e9.png)

- Over **5,000 wallet addresses** have been generated in our sandbox, showing strong traction from developers using our new Dev Portal and API documentation, while more than 170 Interledger-enabled wallet addresses were created in production during our soft launch, demonstrating strong initial demand for ILP-native wallets.

- We've signed four **new integration contracts** with partners across the Caribbean, Canada, and Africa, all powered by our new Interledger infrastructure.

Our growth is more than numbers but also the tangible impact on people's lives. We've already facilitated hundreds of pilot payouts to student groups and community contributors across Africa, Latin America, and Asia. The feedback is consistent: our intuitive onboarding process and the life-changing ability to receive payments without a traditional bank account is making a real difference.
___

## A commitment to  Compliance and Innovation
In fintech, building trust is paramount. This is why a cornerstone of our project was our commitment to compliance. We aimed to not just build a new technology but also a compliant platform ready for the world.

Our efforts included:

- A comprehensive external audit to ensure our platform meets the highest standards.
The implementation of enhanced **Know Your Customer** (KYC) and **Anti-Money Laundering** (AML) procedures, which are critical for the security of our Interledger wallets. _Learn more about this_  [_**here**_](https://chimoney.io/blogs/the-role-of-aml-and-kyc-in-modern-fintech-chimoney-s-approach-to-compliance/).
- Deep alignment with Canadian regulations, including the Retail Payment Activities Act (**RPAA**) and Financial Transactions and Reports Analysis Centre of Canada (**FINTRAC**), with formalized reporting procedures.
- Successful compliance onboarding with regulated partners like Bitso in Mexico, which enables seamless local MXN settlement for our Interledger-connected wallets.

All this has helped us create a safe, secure ecosystem people can trust. We’ve also kept our deployed Rafiki instance running with a 99.9% uptime SLA to maintain that trust.
![Frame 928867.png](/uploads/Frame_928867_49fca979e1.png)

_You can learn more about KYC and Compliance at Chimoney in this [video](https://www.youtube.com/watch?v=O2PUfRaglZs)._
___

## Empowering Global payments & Web monetization
Our Interledger integration has made it easier than ever to send and receive money across borders. We've built a robust system that manages the flow of funds both into and out of the network, supporting a wide array of collection and payout options for our users:

- **Collections**: We enabled payments to be collected in USD (via Wire or ACH), CAD (via Interac), and NGN (via bank transfer or debit card).
- **Payouts (Faster & More Diverse)**: Payouts can be sent via **instant bank transfers** to Mexico and Nigeria, **Real-Time Payment** (RTP) systems like SPEI in Mexico and Interac in Canada, and even **Mobile Money** in 13 countries across Africa.

Beyond traditional payments, we’ve enabled new possibilities for the digital economy. We have successfully implemented a comprehensive identity authentication and verification system that allows Chimoney App users to participate in [**Web Monetization**](https://interledger.org/web-monetization). 

![REYYNl_L5Dw-HD.jpg](/uploads/REYY_Nl_L5_Dw_HD_c5105df41c.jpg)

This enables creators to earn micropayments directly from their websites and digital content, providing a new way to monetize their work and receive payments without a traditional bank account. 

You can watch our demos to see it in action:
- [_How to connect your Chimoney App wallet to the Web Monetization extension_](https://www.youtube.com/watch?v=REYYNl_L5Dw)
- [_The Web Monetization payment flow within the Chimoney ecosystem_](https://youtu.be/brx8NOr44c0?list=PLDHju0onYcAIfS_ZAXlKpIYBAfu6F2Rkp&t=973)

___

## The Road ahead: Scaling our impact
The completion of this prototyping project now allows us to move from a proven prototype to a fully operational, scaled-up service that will truly revolutionize global payments.

Our vision for what's next includes:
- **Launching Interledger Infrastructure as a Service** (IIaaS) to General Availability (GA) at the upcoming [Interledger Summit](https://interledger.org/summit). IIaaS is our solution to simplify how other companies and financial institutions can join the Interledger network. Instead of building their own complex infrastructure from scratch, they can easily leverage the power of ILP through our API.
- **Scaling our user acquisition** in key emerging markets across Africa, Latin America, and Asia.
- **Formalizing peering relationships** with other licensed Interledger network nodes to create a fully regulated, interconnected payment network.

We believe that by building this open, inclusive, and efficient global payments infrastructure, we can serve millions of people and businesses worldwide.
___

## Lessons learned and recommendations
Our prototyping phase provided invaluable insights that will guide our next steps:
- Regulatory compliance is foundational, not optional. Our early investment in governance and KYC/AML allowed for faster integrations later.
- Developers want clear APIs and fast integration. Our Dev Portal and Interledger tutorials saw higher-than-expected engagement.
- Users in emerging markets value earn-first wallets more than just sending capabilities.

We will continue to apply these lessons by prioritizing compliance planning, focusing on developer tooling, and tying the ILP value proposition to compelling, real-world use cases.
___

## A Heartfelt Thank you
This journey would not have been possible without the support of the Interledger Foundation. Their faith in our vision and their guidance has been instrumental.

We are also deeply grateful to our amazing team, our dedicated partners, and every user who has believed in us. Together, we are building the future of payments.

If you’d like to partner with Chimoney to build the future of payments, [**contact our team**](https://chimoney.io/) to discuss how our ILP-powered solutions can transform your business.





Discover how Chimoney integrated the Interledger Protocol to simplify cross-border payments, enable Web Monetization, and build a secure, compliant platform empowering users and businesses worldwide.

An Inside Look at Chimoney’s Interledger Integration: Results and Impact So Far

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The journey of a startup is all about momentum. We build, we learn, and we celebrate the milestones that propel us forward. Today, we're excited to share another significant step in our mission to create a world without financial borders.

We've been selected to join the inaugural cohort of [**AC:RevLab**](https://www.acceleratorcentre.com/resources/news/accelerator-centre-announces-inaugural-cohort-for-ac-revlab-supporting-early), a high-impact scale-up program backed by the Government of Canada through the [**Federal Economic Development Agency for Southern Ontario**](https://feddev-ontario.canada.ca/en) (FedDev Ontario) and powered by the prestigious [**Accelerator Centre**](https://www.acceleratorcentre.com/). Think of AC:RevLab as less of a program and more of a growth engine, a strategic initiative designed to help companies like ours turn early wins into a powerful, repeatable machine for scale.

For us at Chimoney, this is a game-changer. We've spent years building a robust payment infrastructure that empowers businesses, communities, and startups to move value globally with ease. We've been part of incredible programs before, from [**Techstars Toronto**](https://chimoney.io/blogs/techstars-backs-chimoney-to-revolutionize-global-payouts/) and the [**Google for Startups Accelerator**](https://chimoney.io/blogs/google-for-startups-accelerator-reflections-a-transformative-journey-for-chimoney/), to the [**Accelerator Centre Studio program**](https://chimoney.io/blogs/chimoney-at-the-accelerator-center-studio-program-ac-studio-reflections-and-excitement-till-date/). Now, with AC:RevLab, we're getting the tactical support to match our go-to-market strategy with the incredible momentum we've already built, including our current partnership with [**Interledger**](https://chimoney.io/blogs/chimoney-and-interledger-expanding-global-financial-access/) to build the future of open payments.

> As our CEO, Uchi Uchibeke, puts it: "Chimoney is built to power seamless, cross-border payouts for businesses and platforms globally. Joining AC:RevLab allows us to sharpen our go-to-market execution and build the growth engine that matches our mission and momentum."

## Why AC:RevLab is the Right Fuel for Our Engine
No one builds a global movement alone. The AC:RevLab program, delivered through the Scale-Up Platform with [Communitech](https://communitech.ca/), offers the kind of expert support that turns potential into reality. It’s an opportunity to learn from the best and build alongside other high-potential companies.

Through this journey, we'll gain access to:
- Tactical mentorship from sales and revenue experts.
- Hands-on support from partners like HubSpot to build world-class systems.
- A rich ecosystem of founders, advisors, and investors who are all dedicated to helping us grow smarter, not just faster.

> Our Head of Global Operations, Babatunde Hammed, says: "This program is less about early traction and more about building sustainable scale. With expert support, mentors, and a network of experienced founders, AC:RevLab is giving us the space to refine and grow smarter, not just faster.”

## Where We're Headed Next
We've already laid a strong foundation with our global payout infrastructure and [**unified API**](https://chimoney.io/producthub/), which reaches over 130 countries and connects mobile money, banks, wallets, airtime, and gift cards. Now, with the support of AC:RevLab, we’re poised to take things even further. The program’s focus on go-to-market strategy will be instrumental in helping us scale and expand our solutions into new and existing markets.

This is a validation of the problem we’re solving and a signal of the incredible growth that's on the horizon. We're honored to be among the first companies selected, and we’re ready for the next chapter.

Want to see how Chimoney can simplify your global payouts? [**Book a discovery call**](https://chimoney.io/?book_a_demo=1) with us today and let's build the future of payments together.


Chimoney joins the Canada-backed AC:RevLab program to accelerate global expansion and revolutionize cross-border payments. Learn how this partnership will help us scale our solutions and build a world without financial borders.

Chimoney Joins Government of Canada–Backed Program, AC:RevLab, to Scale Global Expansion 🚀

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In this month, we launched our Go SDK, expanded to LATAM with MXN payouts, added Web Monetization support, and introduced new multi-currency wallet endpoints to improve your integration experience.
___

### New Features

- **Go SDK:**  We now have a Chimoney Go SDK to make integration easier and faster. You can start integrating with the SDK [**here**](https://github.com/chimoney/chimoney-go-sdk).

- **LATAM Bank Withdrawals:**  We've added support for bank withdrawals in LATAM, starting with MXN payouts via CLABE in Mexico.

- **Web Monetization Support:**  We've added support for Web Monetization (WebMo) transactions! You can now recieve Web Monetization payments via Chimoney, and those transactions are now automatically recognized and labeled as WebMo.  _(You can read more on how to set up and get started with Web Monetization [**here**](https://chimoney.io/blogs/introduction-to-web-monetization-on-chimoney/))_
___

### API Updates

- **Documentation Improvements:**  Updated API documentation for [**`beneficiary-rules`**](https://api.chimoney.io/v0.2.4/api-docs/#/Info/get_v0_2_4_info_beneficiary_rules__countryCode_) endpoint to clarify available payment method options (_Wire, iACH)_

- **New Endpoints:**  
 > [**`Multicurrency-wallets/request`**](https://api.chimoney.io/v0.2.4/api-docs/#/MultiCurrency%20Wallets/post_v0_2_4_multicurrency_wallets_request) – Enables parent accounts to issue new multi-currency "chi" wallets to subaccounts, with validation against supported currencies  

> [**`Multicurrency-wallets/bank-account`**](https://api.chimoney.io/v0.2.4/api-docs/#/MultiCurrency%20Wallets/post_v0_2_4_multicurrency_wallets_bank_account) – Allows parent accounts to issue bank accounts (e.g. CLABE) to subaccounts in supported currencies


Discover Chimoney's latest product and API updates for May, including Go SDK, MXN payouts, and multi-currency wallet enhancements.



May 2025 Changelog

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Financial institutions (FIs) of all sizes across the globe have digitally transformed to improve their customer experience, boost operational efficiencies, and keep their customers safe. The next step is to leverage the significant strides made in digital compliance.

eKYC (electronic Know Your Customer) is rapidly being adopted worldwide, with both developed and emerging economies implementing technologies such as digital identity verification to streamline onboarding and improve financial inclusion. Governments and financial institutions are also leveraging eKYC to improve access to banking, reduce fraud, and comply with Anti-Money Laundering (AML) regulations, and eKYC is seeing particularly robust growth in countries that are rolling out digital ID initiatives.

In 2024, the global eKYC market size was valued by the [IMARC Group](https://www.imarcgroup.com/) at USD 805.8 million, and looking ahead, the company estimates the market to reach USD 3,562 million by 2033, showing a CAGR (Compound annual growth rate) of 17.74% during the period.


![ILP Instrumental in Growth 1.png](/uploads/ILP_Instrumental_in_Growth_1_0c5d8babda.png)

At [Chimoney](https://chimoney.io/), we've positioned ourselves at the forefront of this transformation. As a fintech company simplifying global payments and enabling seamless cross-border financial transactions, we've developed a comprehensive eKYC and anti-money laundering solution that reflects our commitment to both innovation and compliance.

We're setting a new standard in digital compliance by integrating eKYC with advanced financial technology infrastructure. This allows us to offer bankless financial services while maintaining anti-fraud protections, and we see it as a necessary evolution for fintechs navigating increasingly stringent regulatory landscapes.

These advancements come at a crucial time, as the importance of robust financial compliance is being underscored by global regulatory crackdowns such as the significant fine recently levied against TD Bank for AML failures.

## Creating a Digital Compliance Ecosystem

At Chimoney, our approach is rooted in a multi-layered technological framework that combines artificial intelligence, real-time monitoring, and advanced verification techniques. We've created a digital compliance ecosystem that surpasses traditional methods, offering a smart, adaptable system that evolves alongside emerging financial threats.

The backbone of our platform is a sophisticated AI-powered verification engine. Unlike legacy systems, ours enables instant document validation, automated cross-checking against global databases, and real-time fraud detection, all built for scale and speed.

By leveraging machine learning algorithms, our system constantly refines its ability to spot suspicious transaction patterns, creating a proactive, rather than reactive, approach to financial security.

![ILP Instrumental in Growth.png](/uploads/ILP_Instrumental_in_Growth_7ab2bf0892.png)

Chimoney's eKYC verification process begins with advanced ID checks powered by our proprietary technology, incorporates video-based liveliness detection, and cross-references user data against global sanctions and watchlists. Each user is then subject to a thorough manual review by our compliance team because at Chimoney, we believe technology should empower, not replace, human judgment.

Our system goes far beyond verification. We've engineered it to detect complex money laundering strategies, flag unusual transaction behavior, and deliver comprehensive compliance reporting. For financial institutions, this means compliance isn't a bottleneck but a competitive edge.

By analyzing data such as transaction frequency, speed, value, and origin, our AI can flag suspicious activity nearly in real time. This approach marks a decisive step forward from traditional, retrospective methods.

## Collaboration as a Catalyst for Safer Finance

Collaboration is at the heart of Chimoney’s ethos. Banks sharing AML information can significantly enhance the integrity of the global financial system, helping organizations detect and prevent financial crimes.

Currently, many financial institutions operate in silos, limiting visibility into broader suspicious activity patterns. But with advanced eKYC systems like ours, equipped with AI and machine learning, it becomes possible to create more unified, intelligent monitoring systems capable of detecting complex financial crimes across institutional boundaries.

## Building the Future Together

Our continued commitment to compliance, combined with adherence to Canadian regulatory requirements—namely compliance with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), and the Retail Payment Activities Act (RPAA), strategically positions us to strengthen our platform through regulatory alignment, increased trust, and scalable innovation.

Looking ahead, we're focused on enhancing pattern recognition, refining behavioral analytics, and integrating more external data sources to deliver even deeper risk assessments.

As financial crimes become increasingly sophisticated, our approach demonstrates the critical role of technology in maintaining financial integrity. By leveraging artificial intelligence, advanced verification techniques, and innovative compliance solutions, we are showing what is possible with a great digital compliance foundation.

Learn how Chimoney utilizes eKYC to improve digital compliance, prevent financial fraud, and facilitate secure cross-border payments.


Digital Compliance and eKYC Pave the Way for a Safer Global Financial Ecosystem

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This update includes new features, updates, and key fixes designed to make your integrations with the Chimoney API more seamless.

## New Features

We’ve added the following endpoints:

**Get Country States/Regions**  
[`GET /v0.2.4/info/country-states-regions`](https://chimoney.readme.io/reference/get_v0-2-4-info-country-states-regions)  
Returns a list of states or regions for a given country (for example “California” for the US). Useful for address validation.

**Bank Search**  
[`GET /v0.2.4/info/bank-search`](https://chimoney.readme.io/reference/get_v0-2-4-info-bank-search)  
Search for banks in a specific country with pagination support. Supports international banks.

**Get Beneficiary Rules by Country**  
[`GET /v0.2.4/info/beneficiary-rules/{countryCode}`](https://chimoney.readme.io/reference/get_v0-2-4-info-beneficiary-rules-countrycode)  
Fetch validation rules required for beneficiaries in supported countries (US, Mexico, Peru, Canada).

### Beneficiary Route

We’ve introduced a dedicated Beneficiary Route to make managing payees easier:

**List Beneficiaries**  
[`GET /v0.2.4/beneficiary`](https://chimoney.readme.io/reference/get_v0-2-4-beneficiary) - View all beneficiaries linked to an account.

**Create Bank Beneficiary**  
[`POST /v0.2.4/beneficiary/bank`](https://chimoney.readme.io/reference/post_v0-2-4-beneficiary-bank) - Add a new bank beneficiary directly via the API.
___

## Updates

- Improved examples and field descriptions for [sub-accounts](https://chimoney.readme.io/reference/post_v0-2-4-sub-account-create) and [multi-currency wallet](https://chimoney.readme.io/reference/post_v0-2-4-multicurrency-wallets-create) creation (`firstName`, `meta`, `id`).
- Clarified required fields in the multi-currency wallet [`/create`](https://chimoney.readme.io/reference/post_v0-2-4-multicurrency-wallets-create) and [`/list`](https://chimoney.readme.io/reference/get_v0-2-4-multicurrency-wallets-list) endpoints.
- Removed `subAccount` as a required field in the Multi-currency wallet [transfer](https://chimoney.readme.io/reference/post_v0-2-4-multicurrency-wallets-transfer) documentation.

- Users can now create and manage beneficiaries under sub-accounts.

- Sender’s bank details are now returned in the response when a [payment is initiated](https://chimoney.readme.io/reference/post_v0-2-4-payment-initiate).

- We enforced stricter validation rules across the API, including a minimum of two characters for bank search queries, ISO country code validation for all address fields, and clearer error messages for bank-related operations.

___
## Fixes

- Improved error messages now include more specific authentication failure codes, improved redemption failure details (such as `valueInUSD`, `amount`, and wallet currency), and clearer error responses for invalid bank lookups.
- Fixed duplicate wallet funding alerts triggered during admin actions.

---

Ready to try the new features? [Visit Chimoney API docs](https://chimoney.readme.io/reference/introduction) or explore them via [Swagger](https://api.chimoney.io/v0.2.4/api-docs/).


Discover the latest features, fixes and updates from Q1 2025.

Q1 2025 Changelog

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Financial institutions face growing pressure to modernize payment infrastructure amid rising demand for fast, low-cost cross-border transactions. They must balance legacy systems with modern demands for instant, cross-border settlements while maintaining security, compliance, and cost-effectiveness. The fragmentation of global payment systems has created a complex ecosystem where institutions struggle to provide seamless experiences across different currencies, jurisdictions, and payment rails.

This article explores how Chimoney's integration with the Interledger Protocol (ILP) offers financial institutions a solution to these challenges, providing a technical analysis of the architecture, implementation considerations, and strategic advantages of adopting this technology stack.

## The Current State of Payment Infrastructure

Traditional payment infrastructure within financial institutions typically consists of:

- **Core Banking Systems**: Often decades-old technology handling account management and ledger operations.
- **Payment Processors**: Specialized systems for handling various payment types (ACH, wire transfers, cards).
- **Correspondent Banking Networks**: Relationships facilitating cross-border transactions.
- **Settlement Systems**: Mechanisms for finalizing transactions between institutions.

These systems frequently operate in silos, leading to inefficiencies such as:

- Long settlement times (_T+1 to T+3, where "T" refers to the transaction date and the number indicates how many business days until settlement_) for many cross-border transactions.
- High operational costs from maintaining multiple integration points.
- Liquidity management challenges across different currencies and systems.
- Complex reconciliation processes.
- Limited visibility into end-to-end transaction status.

## The Interledger Protocol: Technical Foundation

The Interledger Protocol represents a paradigm shift in payment infrastructure design. At its core, ILP is:

- **A packet-switching protocol for money**: Similar to how IP routes data packets across networks, ILP routes payment packets across financial networks.
- **Network-agnostic**: Operates across any payment system, cryptocurrency, or fiat currency.
- **Connectionless**: Does not require persistent connections between participants.
- **Settlement-agnostic**: Works with any settlement method agreed upon by adjacent nodes.

### Key ILP Components

- **Connectors**: Network nodes that forward packets between different ledgers.
- **Packets**: Small units of value transferred with accompanying data.
- **STREAM Protocol**: Application layer protocol for sending money and data.
- **Payment Pointers**: Standardized payment addressing scheme (similar to email addresses for payments).
- **Open Payments**: API standard for initiating and receiving payments.

## Chimoney's Interledger Implementation

![Architecture Diagram.png](/uploads/Architecture_Diagram_0d3138e0c8.png)

Chimoney has implemented ILP, allowing financial institutions to integrate directly with Chimoney's endpoints without needing to build their own Interledger implementation. This dramatically simplifies adoption, reducing technical complexity and accelerating time-to-market.

Chimoney provides two powerful API endpoints that make Interledger integration seamless:

- **Issue Payment Pointers**: Financial institutions can integrate the Interledger Protocol into their platform without deploying Rafiki or their own node. This endpoint allows institutions to issue custom Payment Pointers to their users, enabling use cases such as Web Monetization, Open Payments, and cross-border transactions.

- **Pay with Payment Pointers**: This endpoint enables users to send and receive payments using Payment Pointers across different currencies and jurisdictions without requiring financial institutions to deploy their own Rafiki node. Institutions can build powerful payment capabilities using Chimoney's Interledger API.

_Checkout [this blog to learn more about the real-world use cases of the 'issue payment pointer' and 'transfer between payment pointers' endpoints.](https://chimoney.io/blogs/building-the-future-of-cross-border-remittances-with-chimoney-and-interledger/)_


These endpoints are supported by Chimoney's comprehensive Interledger implementation consisting of three major components, all fully operational and ready for financial institutions to connect with:


- **Chimoney Identity Provider (Consent Screen)**: Manages user authentication and consent flows for third parties interacting with Chimoney's Rafiki deployment via Open Payments.

- **Account Service (Chimoney's API Interledger Service)**: Acts as the bridge between Chimoney's systems and the Interledger Protocol, handling all the complex interactions with the ILP network.

- **Chimoney's Rafiki Deployment**: The core ILP infrastructure that handles the routing, packet switching, and settlement processes.

## Technical Implementation Considerations

### Integration Approach for Financial Institutions

Financial institutions can connect to Chimoney's Interledger-enabled services through these straightforward methods:

- **Issue Payment Pointers API**: Integrate this endpoint to issue custom Payment Pointers to users, enabling numerous use cases without any Interledger infrastructure requirements.

- **Pay with Payment Pointers API**: Implement this endpoint to allow users to send and receive payments across currencies and jurisdictions using Payment Pointers.

- **Peering Relationship**: For institutions with more advanced requirements, establish a peering connection with Chimoney.

The integration process is streamlined since financial institutions don't need to:

- Deploy their own Rafiki nodes.
- Build consent screens.
- Implement complex ILP packet handling.
- Manage the technical complexities of the Interledger Protocol.

### Flow of Funds
![Flow of Funds.png](/uploads/Flow_of_Funds_1b82ea4ba6.png)

Chimoney's implementation supports several key transaction flows, all accessible through their simple API endpoints:

- **Between Chimoney Issued Wallet Addresses**:
  - A user initiates a payout to a supported Interledger Wallet Address.
  - The funds flow through Chimoney's pre-built Interledger infrastructure.
  - All complex routing and settlement is handled automatically.
  
- **Chimoney to Peer / Peer to Chimoney**:
  - Transactions between Chimoney and its peers are denominated in USD.
  - Financial institutions can leverage this existing infrastructure rather than building their own.
  
- **Chimoney to Third Party App**:
  - Third parties can communicate with Chimoney's Interledger Infrastructure using Open Payments.
  - The entire consent flow and transaction processing is handled by Chimoney's components.

### Peering with Chimoney

For financial institutions that want to establish a direct peering relationship with Chimoney (rather than just using their API endpoints), the process is well-defined:

- Running an Interledger connector (e.g., Rafiki).
- Agreement on USD as the asset for the peering relationship.
- Communication of static ILP addresses.
- Exchange of connector endpoints and authentication tokens.

However, many institutions can benefit from Chimoney's Interledger capabilities without needing to establish a peering relationship, simply by integrating with their API endpoints.

## Strategic Advantages for Financial Institutions

Implementing Chimoney's ready-to-use Interledger solution provides financial institutions with several competitive advantages:

1. **Rapid Time-to-Market**:
  - Avoid the complexity of building their own ILP implementation.
  - Integrate Payment Pointers functionality in days or weeks, not months.
  - Focus resources on their core business rather than technical infrastructure.
  - Leverage Chimoney's expertise in Interledger technology.

2. **Reduced Settlement Risk and Costs**:
  - Benefit from Chimoney's pre-charge approach that minimizes settlement risk.
  - Take advantage of established event-driven processing.
  - Access optimized liquidity management across different corridors.
  - Reduce operational costs through streamlined integration.

3. **Enhanced Interoperability**:
  - Issue and accept Payment Pointers across different systems.
  - Access Chimoney's established network of peers.
  - Leverage Open Payments compatibility.
  - Future-proof their payment infrastructure.

4. **Improved Customer Experience**:
  - [**Web Monetization**](https://chimoney.io/blogs/introduction-to-web-monetization-on-chimoney/) for content creators.
  - Frictionless P2P payments.
  - Cross-border transactions without complexity.
  - Support for diverse use cases.

## Implementation Roadmap for Financial Institutions

Financial institutions looking to leverage Chimoney's Interledger capabilities should follow this streamlined approach:

### Phase 1: Assessment and Planning
- Identify specific use cases that would benefit from Payment Pointers functionality.
- Determine whether to implement Issue Payment Pointers, Pay with Payment Pointers, or both.
- Define success metrics and integration timeline.
- Engage with the [**Chimoney team**](https://chimoney.io/?book_a_demo=1) to access documentation and support.

### Phase 2: Integration
- Implement the necessary API connections to Chimoney's endpoints.
- Configure webhook handlers for event processing.
- Establish the appropriate authentication mechanisms.
- Test basic transaction flows in Chimoney's sandbox environment.

### Phase 3: Limited Production Deployment
- Process transactions for a limited user base.
- Monitor transaction flows and performance.
- Gather user feedback.
- Optimize integration as needed.

### Phase 4: Full-Scale Deployment
- Expand to additional use cases.
- Scale transaction volume.
- Develop new product offerings leveraging Payment Pointers.
- Consider establishing a peering relationship if transaction volumes warrant it.

## Sample Use Cases

Chimoney's ready-to-use Interledger infrastructure enables several powerful use cases for financial institutions:

- **[Web Monetization](https://chimoney.io/blogs/introduction-to-web-monetization-on-chimoney/)**: Provide seamless micropayments for content creators using Payment Pointers.

- **[Cross-Border Transactions](https://chimoney.io/blogs/building-the-future-of-cross-border-remittances-with-chimoney-and-interledger/)**: Facilitate seamless payments between international customers and vendors using Payment Pointers without currency conversion complexity.

- **Open Payments**: Enable real-time, low-cost transactions across different financial networks.

- **Frictionless P2P between Account Servicing Entities**: Provide customers with instant, low-cost peer-to-peer transactions.

## Conclusion

Chimoney’s Interledger integration provides financial institutions with a better way to modernize their payment infrastructure, enabling fast, low-cost, and interoperable transactions without the complexity of building from scratch. By leveraging Chimoney’s Issue Payment Pointers and Pay with Payment Pointers endpoints, institutions can enhance cross-border payments, improve liquidity management, and reduce operational overhead.

For financial institutions ready to embrace innovation, Chimoney’s ILP integration provides a scalable, cost-effective, and future-proof payment solution. Transform your payment infrastructure today—visit [**chimoney.io**](https://chimoney.io/?book_a_demo=1) to get started.


Discover how Chimoney’s Interledger Protocol (ILP) integration optimizes payment infrastructure for financial institutions. Learn about seamless cross-border transactions, reduced costs, and enhanced interoperability with Chimoney’s ready-to-use ILP solutions.

Optimizing Payment Infrastructure for Financial Institutions: A Technical Deep Dive into Chimoney's Interledger Integration

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How Businesses Can Use Chimoney's Interledger-Enabled Services to Expand into New Markets.png

In developed markets like the U.S. and Europe, consumers have already embraced digital wallets, contactless payments, and instant transfers. But for businesses with global ambitions, payments are anything but straightforward.

Every region has its own unique preferences—mobile wallets dominate in Africa, while account-to-account transactions are favored in parts of Asia and Europe. Managing these diverse payment systems means juggling multiple integrations, navigating complex currency conversions, and ensuring compliance with ever-changing regulations. The result? A logistical nightmare that can slow expansion and increase costs.

[Chimoney’s Interledger-enabled](https://chimoney.io/blogs/building-the-future-of-cross-border-remittances-with-chimoney-and-interledger/) services simplify this challenge. By providing a unified platform for seamless cross-border transactions, Chimoney removes the friction of entering new markets. Businesses can integrate once and gain access to a global payments network, making international expansion faster, easier, and more efficient.

## The Cross-Border Payment Challenge for Expanding Businesses
Different regions exhibit distinct payment preferences, which can vary significantly from one market to another. For instance, some markets favor OEM wallets like Apple Pay and Google Pay, while others rely heavily on retailer-specific payment apps. Many regions have adopted local payment solutions built on account-to-account rails, and global technology wallets like PayPal dominate in certain areas.

This fragmentation poses significant barriers to entry for businesses seeking to expand globally. Managing multiple payment integrations, handling currency conversions, adhering to diverse compliance requirements, and navigating settlement processes across different markets can be overwhelming. The complexity of these tasks not only increases operational costs but also demands substantial resources to ensure seamless transactions. Furthermore, the need to comply with varying regulatory frameworks and manage risks such as fraud and security breaches adds to the challenge, making it essential for businesses to find innovative solutions to streamline cross-border payments effectively.

## Chimoney's Interledger-Enabled Solutions for Global Expansion
Chimoney has integrated with ILP to provide Interledger-enabled services specifically designed to solve these challenges. By leveraging the Interledger Protocol—an open, neutral standard for cross-border payments—Chimoney provides businesses with a single integration point that connects to multiple payment ecosystems worldwide.
Chimoney’s Interledger-enabled services include:

### Issue Payment Pointers
Businesses can integrate the Interledger Protocol into their platform without deploying Rafiki or their own node. With Chimoney, companies can issue custom Payment Pointers to their users, enabling use cases such as:

- **Web Monetization** – Providing seamless micropayments for content creators. [Learn more here](https://chimoney.io/blogs/introduction-to-web-monetization-on-chimoney/)

- **Open Payments** – Enabling real-time, low-cost transactions across different financial networks.

- **Cross-Border Transactions** – Facilitating seamless payments between international customers and vendors.

### Pay with Payment Pointers
Businesses can allow users to send and receive payments across different currencies and jurisdictions using Payment Pointers without deploying their own Rafiki node. This simplifies global transactions by:

- Reducing currency conversion complexity since payments are automatically routed using Interledger.

- Improving transaction speed as payments settle faster with optimized routing.

- Expanding financial inclusion by enabling cross-border payments in underbanked regions.

## Strategic Ways to Use Chimoney for Market Expansion
Chimoney's Interledger-enabled services offer businesses a platform to expand into new markets by simplifying cross-border payments and enhancing financial inclusion. Here are strategic ways businesses can leverage Chimoney for market expansion:

### 1. Cross-Border Payments

Use Case: Facilitate transactions between international customers and vendors by leveraging [Interledger Payment Pointers](https://chimoney.io/blogs/building-the-future-of-cross-border-remittances-with-chimoney-and-interledger/).

Benefits: Reduces currency conversion complexity, improves transaction speed, and expands financial inclusion in underbanked regions.

### 2. Enable Web Monetization

Use Case: Provide [micropayments for content creators](https://chimoney.io/blogs/introduction-to-web-monetization-on-chimoney/), allowing real-time compensation for digital content.

Benefits: Enhances engagement and transparency by rewarding users instantly for their contributions.

### 3. Simplify Payment Integration

Use Case: Integrate [Chimoney's Interledger-enabled endpoints](https://chimoney.io/api-use-cases/?activeCategory=4) to connect to multiple payment ecosystems worldwide with a single integration point.

Benefits: Reduces the complexity of managing multiple payment integrations, currency conversions, and compliance requirements.

### 4. Expand into Underbanked Regions

Use Case: Utilize Chimoney's [multi-currency wallets](https://chimoney.io/multi-currency-wallets/) to enable consumers without bank accounts to send and receive money globally.

Benefits: Bypasses significant bank fees and exchange rates, making cross-border payments more cost-effective.

### 5. Optimize Payment Routing and Settlement

Use Case: Fine-tune routing and settlement preferences to optimize payment flows across target markets.

Benefits: Ensures faster settlement times and reduced transaction costs by optimizing payment routes.

### 6. Gradual Market Rollout

Use Case: Gradually roll out services to new markets with Chimoney's support, ensuring smooth expansion.

Benefits: Allows businesses to test and refine their payment strategies in new markets before full-scale deployment.

## Getting Started with Chimoney's Interledger-Enabled Services
Businesses ready to leverage Chimoney for international expansion can follow this process:

- **Assessment**: [Chimoney's team](https://chimoney.io/?book_a_demo=1) evaluates your current payment needs and international expansion goals
- **Integration**: Implementation of [Chimoney's Interledger-enabled API](https://chimoney.io/api-use-cases/?activeCategory=4) with your existing systems
- **Testing**: Validation of payment flows across your target markets
- **Optimization**: Fine-tuning of routing and settlement preferences
- **Expansion**: Gradual rollout to new markets with Chimoney's support

_For developers who want to dive into the technical setup, you can learn more on [**A Developer's Guide to Enabling ILP Payments with Chimoney**](https://chimoney.io/blogs/a-developer-s-guide-to-enabling-ilp-payments-with-chimoney/)._

## Conclusion

As digital payments continue developing beyond simple checkout options, Chimoney's Interledger-enabled services provide the technical foundation businesses need to navigate this complexity across global markets.

Through Chimoney, even mid-sized businesses can now access enterprise-grade payment infrastructure that was previously available only to multinational corporations, democratizing access to global markets and creating new opportunities for expansion.
Ready to simplify global payments and expand your business effortlessly?
Chimoney's Interledger-enabled services provide the infrastructure you need to enter new markets, streamline transactions, and reduce payment complexities.
Visit [**chimoney.io**](https://chimoney.io) to learn more or [**book a meeting**](https://chimoney.io/?book_a_demo=1) with our team to discuss how Chimoney can support your business.



Expand into global markets with Chimoney’s Interledger-enabled services. Simplify cross-border payments, reduce costs, and enhance financial inclusion with seamless integration and real-time transactions. Discover how Chimoney can help your business grow globally.

How Businesses Can Use Chimoney's Interledger-Enabled Services to Expand into New Markets

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Micropayments, transactions typically valued under $5, have long been a challenge for the digital economy. Traditional payment systems were designed for larger transactions, with fees that often make small-value payments economically unfeasible. However, with Interledger and Chimoney, businesses can now fully leverage the full potential of small-value transactions, enabling new revenue models and ideal global payments.

## Why Traditional Micropayments Haven't Worked

While digital payments are now mainstream—90% of consumers in the U.S. and Europe have made digital transactions in the past year (McKinsey’s Digital Payments Survey)—the infrastructure for micropayments has lagged behind. Here’s why:

- **High Transaction Costs**: Most payment processors charge a fixed fee + a percentage of the transaction value. For small payments, these fees can eat up 20-30% or more of the transaction amount, making micropayments financially unviable.

- **Settlement Delays**: Many payment systems process transactions in batches, resulting in delays of 24-72 hours before funds are available. For real-time micropayment use cases, this timing gap creates significant operational challenges.

- **Technical Limitations**: Legacy payment networks weren't designed to handle high volumes of tiny transactions, creating scalability issues for micropayment-based business models.

- **Cross-Border Friction**: International micropayments face high fees, unfavorable exchange rates, and compliance challenges, limiting global adoption.

## Accept Global Micropayments with Interledger and Chimoney
Chimoney provides one of the most comprehensive implementations of Interledger Protocol, enabling businesses to accept micropayments worldwide through a single payment solution. Offering customers a checkout experience that supports tiny transactions in their local currency can be the difference between abandonment and completion of digital microtransactions.

Interledger Protocol serves as the underlying technology that makes efficient micropayments possible by:

- **Connecting Different Payment Networks**: Interledger functions as a protocol for routing payments across any two ledgers or payment networks, similar to how the internet protocol routes data packets.

- **Packet-Switching for Money**: By breaking payments into small packets that can be routed independently, Interledger dramatically reduces the cost and increases the speed of transactions.

- **Conditional Transfers**: Using cryptographic holds, Interledger ensures that funds move securely between parties without requiring trust between intermediaries.

Chimoney builds upon these capabilities to provide businesses with accessible tools for implementing micropayment solutions, including a checkout service with Interledger as an option and Web Monetization integration.

## Web Monetization: Micropayments for Content Creators
Chimoney has integrated web monetization powered by Interledger, allowing content creators and users to earn directly from the web. This implementation represents a significant advancement in micropayment technology for content creators, bloggers, and digital artists.

## Drive Conversions by Implementing Micropayment Solutions

Offering customers the ability to make small purchases increases engagement and builds new revenue streams. With diverse payment preferences around the world, businesses also need a global micropayment solution that works across currencies and payment methods.

With Interledger's universal protocol and Chimoney's implementation expertise, launching micropayment capabilities is faster and more accessible than ever before. 

### Option 1: Accept Micropayments via Chimoney Checkout

You can implement Chimoney’s Checkout service by:
- Integrating the ‘[Initiate Payment](https://chimoney.readme.io/reference/post_v0-2-4-payment-initiate) endpoint into your product or service:
- The endpoint will generate a payment link for the user.
- The payment link will include various payment options, including Interledger.
- This allows the user to make payments via Interledger seamlessly.

### Option 2: Set Up Web Monetization with Chimoney
You can get started with web monetization on Chimoney by following these steps:

- Create a [Chimoney Account](https://dash.chimoney.io/) 
- Obtain a Payment Pointer by logging into the Chimoney Dashboard.
- Click "Create Interledger Wallet Address" to generate your Payment Pointer.
- Install the latest version (≥ 0.3.0) from the Chimoney Web Monetization page [here](https://chromewebstore.google.com/detail/web-monetization-extensio/oiabcfomehhigdepbbclppomkhlknpii)
- Enter Your Interledger Wallet Address
- Copy and paste your Payment Pointer into the WebMo extension.
- Follow the on-screen instructions to complete the setup.

## Additional Benefits and Considerations when Implementing Micropayments
When integrating micropayment capabilities through Interledger and Chimoney, these are some of the additional advantages businesses can realize:

- **New Business Models**: Micropayments enable innovative approaches like pay-per-use, incremental content access, and granular service tiers that weren't previously possible.

- **Global Reach**: With Interledger's universal connectivity and Chimoney's implementation, businesses can accept micropayments from customers worldwide without establishing banking relationships in each country.

- **Reduced Fraud Risk**: The packet-switching nature of Interledger reduces exposure to fraud by limiting the amount at risk in any single transaction.

- **Instant Settlement**: Unlike traditional payment systems, Interledger-powered solutions provide near-real-time settlement, enabling time-sensitive micropayment applications.

## Conclusion

Micropayments represent one of the most promising frontiers for business innovation. By removing the economic and technical barriers to small-value transactions, Interledger and Chimoney are enabling entirely new business models and revenue streams that simply weren't possible in the traditional payment ecosystem.

Want to explore new revenue streams with micropayments? Sign up for [Chimoney](https://chimoney.io/?book_a_demo=1) and integrate Interledger-powered payments today.




Learn how Interledger and Chimoney are changing micropayments. Their tools make small payments fast, cheap, and easy, helping businesses and creators earn more.

Interledger and Chimoney’s Impact on Micropayments in the Digital Economy

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We've upgraded the Chimoney API to v0.2.4, bringing you powerful new features and updates to improve your integration experience!
___
## What's New:

### New Beneficiary Management Routes

Our latest update simplifies beneficiary management with new endpoints:

- **[Get Account Beneficiaries](https://chimoney.readme.io/reference/get_v0-2-4-beneficiary)**: Retrieve all beneficiaries associated with an account.

- **[Create a Bank Beneficiary](https://chimoney.readme.io/reference/post_v0-2-4-beneficiary-bank)**: Add bank beneficiaries with streamlined validation.

### Enhanced Info Routes

- **[Bank Search](https://chimoney.readme.io/reference/get_v0-2-4-info-bank-search)**: Search for banks in specific countries (international banks supported)

- **[Get Beneficiary Rules](https://chimoney.readme.io/reference/get_v0-2-4-info-beneficiary-rules-countrycode)**: Access country-specific validation rules for beneficiaries

_Check out our [**latest blog post**](https://chimoney.io/blogs/effortless-global-payouts-via-api-manage-beneficiaries-and-send-money-with-chimoney/) for more information on how you can integrate these new endpoints._
___

### Improved Error Handling

We've also expanded our documentation with comprehensive guides on:

- Error types and status codes

- Best practices for handling different error scenarios

- Detailed error code descriptions and resolution steps

_Visit the new [**error handling page**](https://chimoney.readme.io/reference/error-handling) to learn more about the improved error messages and resolution steps._
___

## Get Started

Upgrade to v0.2.4 today to take full advantage of these new features! Check out our [**updated documentation**](https://chimoney.readme.io/reference/introduction) for implementation details and examples.

For any questions or support, feel free to reach out to us at support@chimoney.io.

Chimoney API v0.2.4 is here! 🚀 Introducing new beneficiary management endpoints, improved bank search,  and improved error handling. Upgrade now for a smoother integration experience. 

Chimoney API Update: v0.2.4 Now Live! 🚀

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# Introduction

The rise of digital finance has revolutionized global payments, enabling seamless transactions across borders. However, this rapid growth has also introduced new risks such as money laundering, fraud, and financial crimes that regulators seek to mitigate. **Anti-Money Laundering (AML)** and **Know Your Customer (KYC)** regulations are at the core of financial compliance, ensuring that fintech companies operate securely while preventing illicit activities.

At Chimoney, compliance is embedded in our operations. As we expand our footprint globally, including in Canada, we remain committed to maintaining robust AML and KYC frameworks that align with Canadian regulatory standards under the **Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)** and oversight by the **Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)**.

# Understanding AML and KYC in the Canadian Fintech Ecosystem

## What is Anti-Money Laundering (AML)?
AML regulations are designed to prevent financial institutions and payment companies from being used to launder illicit funds or finance criminal activities. These laws require fintech companies like Chimoney to:

- Monitor and report suspicious transactions.
- Conduct due diligence on customers and businesses.
- Implement strong internal controls to prevent money laundering.

In Canada, AML laws are primarily enforced under the **PCMLTFA**, with oversight from **FINTRAC**.

## What is Know Your Customer (KYC)?

KYC is a subset of AML that requires financial institutions to verify customer identities before they can access financial services. This ensures that fintechs like Chimoney:

- Verify users' identities using government-issued documents.
- Assess the risk level of customers and monitor transactions.
- Prevent fraud by ensuring only legitimate individuals and businesses access financial services.

Under Canada’s AML regime, KYC is mandatory for businesses engaging in financial transactions, including those categorized as **Money Services Businesses (MSBs)**.

# Key AML & KYC Regulations in Canada

## 1. The Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)

The PCMLTFA is Canada’s primary AML law, requiring fintechs like Chimoney to:
- Register with FINTRAC as a Money Services Business (MSB).
- Conduct customer due diligence (CDD) to verify customer identities.
- Monitor and report suspicious transactions that could be linked to money laundering.
- Implement record-keeping requirements for transactions over CAD $10,000.

## 2. FINTRAC (Financial Transactions and Reports Analysis Centre of Canada)

As Canada’s financial intelligence unit, FINTRAC oversees AML compliance and requires fintech companies to:

- Submit Suspicious Transaction Reports (STRs) when identifying potential money laundering activities.
- Submit Large Cash Transaction Reports (LCTRs) for transactions over CAD $10,000.
- Develop AML compliance programs, including employee training and internal risk assessments.

## 3. The Retail Payment Activities Act (RPAA) and AML Compliance

Under the Retail Payment Activities Act (RPAA), which Chimoney has completed registration for, specifies that payment service providers must meet AML/KYC obligations similar to those of banks, ensuring all users and transactions comply with Canada’s financial security standards.

# How Chimoney Ensures AML & KYC Compliance in Canada

At Chimoney, we have implemented a comprehensive AML & KYC framework to comply with FINTRAC and RPAA requirements while providing a secure and seamless payment experience.

## 1. Customer Verification and KYC Procedures

![Chimoney KYC process](/uploads/image_9_9eb76a2bfa.png)

- Identity Verification: We require customers to submit valid government-issued IDs (e.g., Canadian passports, driver’s licenses).

- Automated Document Checks: Our system cross-verifies ID documents using the automated KYC technology.
- Address Verification: Users may need to submit proof of address (utility bill, bank statement) for additional security.
- Enhanced Due Diligence (EDD): High-risk users undergo deeper background checks before account approval.

## 2. Transaction Monitoring & Fraud Detection
![Chimoney Transaction Monitoring tools](/uploads/image_10_f478f5fe5f.png)

- Risk Assessment: Our system analyzes transactions in real time to detect unusual patterns.
- Suspicious Activity Reporting: We report flagged transactions to FINTRAC as required by Canadian law.
- Geofencing & IP Monitoring: We block high-risk jurisdictions from accessing our platform.
- Blacklist & Watchlist Screening: We screen users against global sanctions lists (OFAC, Interpol, etc.).

## 3. Secure Business and Merchant Onboarding

![Chimoney Know Your Business (KYB) process](/uploads/image_11_45391d7d5a.png)

**Business KYB (Know Your Business)**: All corporate clients must provide:
- Business registration details.
- Beneficial ownership information.
- Proof of compliance with AML/KYC regulations: Each merchant is assigned a risk level based on industry, location, and transaction volume.

We continuously review our merchant accounts to ensure compliance.

# The Future of AML & KYC Compliance in Canadian Fintech

Regulations are evolving, and Chimoney is proactively adapting to ensure full compliance. Some trends shaping the future of AML & KYC in Canada include:

- Open Banking Regulations: Expected to bring stricter data-sharing and fraud prevention standards.
- Real-Time Transaction Monitoring: Regulators may require fintechs to enhance AI-driven fraud detection.
- Increased Cross-Border Scrutiny: With globalization, AML enforcement agencies are focusing on multi-country compliance frameworks.

Chimoney is at the forefront of these changes, ensuring that we remain compliant while delivering seamless global payouts and collections.

# Conclusion

AML and KYC compliance are non-negotiable for fintechs operating in Canada. With growing regulations under PCMLTFA, FINTRAC, and RPAA, Chimoney is committed to staying ahead by implementing cutting-edge compliance technologies and ensuring that all transactions are secure, compliant, and fraud-free.

At Chimoney, compliance is more than just a requirement. It’s our promise to users, businesses, and regulators. By adhering to Canada’s AML & KYC regulations, we continue to build a trusted, secure, and compliant payment ecosystem for all.

Stay updated with Chimoney’s compliance journey by following our blog and [LinkedIn ](https://www.linkedin.com/company/chimoney/?viewAsMember=true)updates!


As financial regulations evolve, Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance have become essential pillars in the fintech industry. In this blog post, I explore how AML and KYC regulations shape the modern fintech landscape, particularly within the Canadian ecosystem under the Retail Payment Activities Act (RPAA). I also highlight Chimoney’s approach to ensuring compliance, from robust identity verification processes to transaction monitoring, reinforcing trust, security, and regulatory adherence. Learn how fintech companies can navigate these requirements while fostering innovation and financial inclusion.

The Role of AML and KYC in Modern Fintech: Chimoney’s Approach to Compliance

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If you're developing apps or platforms that handle international payments, you’ve probably faced or are facing three major challenges: managing beneficiaries, converting currencies, and processing payouts. These processes can be complex and time-consuming, often requiring multiple integrations and custom-built solutions. [**Chimoney’s API**](https://chimoney.readme.io/reference/introduction) streamlines everything into a single integration, making global payments easier and more efficient. 

In this article, we’ll explore how you can use Chimoney’s API to simplify beneficiary management, currency conversion, and payouts.

We’ll cover the following steps:
1. Obtaining your Chimoney API Key
2. Fetching beneficiary rules and dynamically constructing forms
3. Searching for banks using the bank search endpoint
4. Adding and managing beneficiaries
5. Generating a currency conversion quote
6. Executing a payout to a beneficiary

## Step 1: Obtaining Your Chimoney API Key

Before you can start using Chimoney’s API, you need to obtain an API key. This key is required for authenticating all your API requests.

**How to Get Your API Key**

- Visit sandbox.chimoney.io and create an account if you don’t have one already.
- Log in and navigate to the Developer Dashboard.
- In the Developer Dashboard, locate the option to generate an API key.
- Copy the API key and store it securely.

> **Note**: Your API key is sensitive information. Do not share it publicly or commit it to version control systems like GitHub.

### Using the API Key

All API requests must include the `X-API-KEY` header with your API key. Here’s an example of how to include it in a curl request:
![carbon (14).png](/uploads/carbon_14_4db02d161a.png)

## Step 2: Fetching Beneficiary Rules and Dynamically Constructing Forms

Before initiating any transaction, it’s crucial to understand the rules and requirements for sending money to a specific country. Chimoney’s API provides an endpoint to dynamically fetch beneficiary rules, which can be used to construct forms or validation schemas.

### Fetch Beneficiary Rules

The  [**/info/beneficiary-rules/{countryCode}**](https://chimoney.readme.io/reference/post_v0-2-4-beneficiary-bank) endpoint allows you to retrieve the rules for a specific country. This is particularly useful for dynamically constructing forms or validation schemas.

Example Request:
![carbon (13).png](/uploads/carbon_13_ae1e9dbb23.png)

Example Response:
![carbon (25).png](/uploads/carbon_25_2cb77fca90.png)

## Dynamically Constructing Forms

Using the response from the [**/info/beneficiary-rules/{countryCode}**](https://chimoney.readme.io/reference/get_v0-2-4-info-beneficiary-rules-countrycode) endpoint, you can dynamically construct a form for adding a beneficiary. Here’s how you can do it:

- **Iterate through the rules**: Loop through the data array to generate form fields.
- **Set field types**: Use the `inputType` property to determine the type of input field (e.g., text, select).
- **Apply validation**: Use the `regexPattern` and `validValues` properties to enforce validation rules.
- **Set default values**: Use the `defaultValue` property to pre-fill fields where applicable.

Example Form Construction:
![carbon (15).png](/uploads/carbon_15_eac49491db.png)

## Step 3: Searching for Banks Using the Bank Search Endpoint

To ensure the beneficiary’s bank details are accurate, you can use the [**/info/bank-search**](https://chimoney.readme.io/reference/get_v0-2-4-info-bank-search) endpoint to search for banks by name or code.

Example Request:
![carbon (14).png](/uploads/carbon_14_ae87125a02.png)

Example Response:

![carbon (24).png](/uploads/carbon_24_27a2a3f56d.png)
### Using the Bank Search Results

The response includes a list of banks matching your search criteria. You can use this information to populate a dropdown or autocomplete field in your form, ensuring that users select a valid bank.

## Step 4: Adding and Managing Beneficiaries

Once you’ve fetched the necessary rules and constructed the form, you can proceed to add beneficiaries. Chimoney’s API allows you to create and manage beneficiaries seamlessly.

### Add a Beneficiary

The [**/beneficiary/bank**](https://chimoney.readme.io/reference/post_v0-2-4-beneficiary-bank) endpoint is used to add a new beneficiary.

Example Request:
![carbon (16).png](/uploads/carbon_16_0843337ef4.png)

Example Response:
![carbon (17).png](/uploads/carbon_17_23301e6257.png)

### Fetch Beneficiaries
To retrieve a list of all beneficiaries, use the [**/beneficiary**](https://chimoney.readme.io/reference/get_v0-2-4-beneficiary) endpoint.

Example Request:
![carbon (18).png](/uploads/carbon_18_d4f07bb706.png)

Example Response:
![carbon (19).png](/uploads/carbon_19_15151ca7ea.png)

## Step 5: Generating a Currency Conversion Quote

Before initiating a multicurrency transfer, you’ll need to generate a quote for the currency conversion. The [**/multicurrency-wallets/transfer-quote**](https://chimoney.readme.io/reference/post_v0-2-4-multicurrency-wallets-transfer-quote) endpoint provides real-time exchange rates and fees.

Example Request:
![carbon (20).png](/uploads/carbon_20_c9242d5203.png)


Example Response:
![carbon (21).png](/uploads/carbon_21_500e3f760d.png)


## Step 6: Executing a Payout to a Beneficiary

Once you have the beneficiary details and a currency conversion quote, you can execute a payout. The [**/payouts/chimoney**](https://chimoney.readme.io/reference/post_v0-2-4-payouts-chimoney**) endpoint allows you to send funds to a beneficiary.

Example Request:
![carbon (26).png](/uploads/carbon_26_f152131b34.png)

Example Response:
![carbon (23).png](/uploads/carbon_23_b8bc9c71d4.png)
## Why Choose Chimoney’s API?

- **Global Reach**: Our support for multiple currencies and countries means your app can cater for users worldwide.
- **Dynamic Rules**: You can fetch beneficiary rules dynamically to ensure compliance with local regulations.
- **Real-Time Quotes**: You can also get real-time currency conversion rates and fees for accurate financial planning.
- **Seamless Integration**: We have a well-documented APIs and sandbox environment that make integration straightforward and simple.
- **Scalability**: The Chimoney API is designed to handle high transaction volumes, making it suitable for businesses of all sizes.

## Conclusion
Chimoney’s API suite offers a robust and flexible solution for managing cross-border payments, multi-currency wallets, and payouts. This guide will help you integrate these features seamlessly into your application, ensuring a smooth and efficient payment experience for your users.

## Get Started Today!
Explore our [**API Documentation**](https://chimoney.readme.io/reference/introduction) to learn more about available endpoints and features, or [**book a meeting with us**](https://chimoney.io/?book_a_demo=1) to see how Chimoney can support your business’s payment needs.

Struggling with international payments? Chimoney’s API simplifies beneficiary management, currency conversion, and payouts in one integration. In this blog you you will learn how to fetch beneficiary rules, add beneficiaries, generate conversion quotes, and execute payouts seamlessly.

Effortless Global Payouts via API: Manage Beneficiaries & Send Money with Chimoney

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Peer-to-peer (P2P) payments should be instant, secure, and frictionless. Chimoney has leveraged the Interledger Protocol (ILP) to create a seamless P2P payment experience within the Chimoney App. By integrating Interledger, users are able to send and receive money effortlessly using their unique Interledger wallet address. 

This article explores how Chimoney’s integration with Interledger is redefining P2P transactions.

## The Role of Interledger in P2P Payments
[Interledger](https://interledger.org/) is a breakthrough protocol designed to facilitate seamless financial transactions across different payment networks. Traditionally, sending money across platforms and borders involves high fees, delays, and compatibility issues. Interledger solves this by acting as a universal connector, allowing payments to move effortlessly between different systems in real time.

## How Chimoney Leverages Interledger for P2P Transfers
Chimoney has embedded Interledger technology into its ecosystem, making P2P payments as easy as sending a message. Here’s how it works:

### 1. Automatic Interledger Wallet Address Issuance

When users sign up on the Chimoney app and complete Know Your Customer (KYC) verification, they are automatically assigned an Interledger wallet address. This wallet serves as their unique digital identifier, allowing them to send and receive payments seamlessly across different networks.

> Think of it as receiving a phone number when activating a new SIM card—except this one is designed for instant financial transactions.

### 2. Instant, Frictionless Money Transfers

With an Interledger wallet address, Chimoney users can send and receive funds instantly. The process is as simple as:
- Entering the recipient’s Interledger wallet address.
- Confirming the transaction.
- Seeing the funds reflected in the recipient’s account instantly.

> It’s like sending a text message and having it delivered in real time. No delays, no intermediaries, and no unnecessary fees.

## Step-by-Step: How It Works in the Chimoney App

### Step 1: Complete KYC Verification

To maintain security and compliance, users undergo a quick KYC verification. Once approved, they automatically receive an Interledger wallet address.

### Step 2: Sending Money

Using the Chimoney app, users can:
- Enter the recipient’s Interledger wallet address or scan their QR code.
- Initiate a transfer instantly after entering their secure PIN without additional processing delays.

### Step 3: Receiving Money
- Users can share their Interledger wallet address or QR code with others.
- Payments are credited instantly to their Chimoney wallet.

## Why This is a Game-Changer for P2P Transactions

Traditional peer-to-peer (P2P) payments are often plagued by inefficiencies and interoperability challenges between different financial networks. Despite the rapid growth of digital payments, a significant portion of the global population still lacks access to traditional banking services, limiting their ability to participate in the modern economy.

Cross-border payments, in particular, face numerous hurdles. Transactions can take several days to settle, and fees are often prohibitively high, especially for smaller amounts. These inefficiencies are compounded by the fragmented nature of financial systems, which struggle to communicate seamlessly across borders and currencies.

Chimoney’s integration with Interledger Protocol (ILP) is tackling these problems head-on, ensuring P2P payments are faster, cheaper, and more accessible than ever before. Here’s how:

- **Instant Settlements** – With Interledger, payments are processed instantly eliminating settlement delays. 

- **Low-Cost Transfers** – By integrating Interledger, Chimoney significantly reduces transfer costs by eliminating the need for intermediaries.

- **Borderless Payments** – Chimoney’s integration with Interledger removes geographic restrictions, allowing users to send and receive money effortlessly across regions regardless of local banking infrastructure. 

- **Secure & Transparent Transactions** – Security is non-negotiable in P2P payments. By leveraging Interledger’s cryptographic security model, Chimoney ensures every transaction is encrypted and tamper-proof. 

## The Future of P2P Payments with Chimoney & Interledger
Chimoney is committed to pushing the boundaries of what’s possible with P2P payments. By continuously enhancing our Interledger-powered system, we’re enabling a future where transactions are instant, inclusive, and cost-efficient for users everywhere.

Ready to experience the next generation of P2P payments? [**Download the Chimoney app**](https://chimoney.app/) today and start sending money in just a few taps!

Learn how Chimoney's integration with Interledger makes P2P payments instant, cost-effective, and borderless on the Chimoney app. 

How Interledger is Powering P2P Payments: The Chimoney App Case Study

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Cross-border remittances remains one of fintech's most persistent challenges as traditional payment infrastructure creates unnecessary friction in building truly global applications. 

[Chimoney and Interledger](https://chimoney.io/blogs/chimoney-and-interledger-expanding-global-financial-access/) partnered in an effort to solve the three main challenges faced in cross-border transfers; high cost, slow processing and lack of transparency. Let's dive into how the integration of Chimoney with Interledger Protocol (ILP) solves these challenges.

## Understanding the Cross-Border Challenge
The technical complexities of [cross-border payments extend far beyond simple currency conversion](https://chimoney.io/blogs/chimoney-s-guide-to-navigating-cross-border-payments-and-global-expansion/). Each region has its own payment rails, compliance requirements, and preferred payment methods. Building direct integrations with each system is impractical for most development teams, yet using traditional banking rails means accepting high fees and slow settlement times.

## The Power of Chimoney + ILP Integration
What makes the Chimoney-ILP combination particularly powerful is how it abstracts complexities while maintaining flexibility. Through a single integration with Chimoney's API, developers can access services like P2P wallet transfers, powered by the Interledger Protocol (ILP) and enabled through payment pointers.

The technical implementation leverages ILP's packet switching for value transfer, similar to how the internet routes data packets. By integrating Interledger’s open payments API, [Rafiki](https://rafiki.dev/overview/concepts/interledger/), Chimoney enables the issuing of payment pointers and the transfer of value from one payment pointer to another without the traditional complexities associated with cross-network transactions, such as intermediary fees or delays.

## Core Technical Capabilities

From an implementation standpoint, you get:
- [Payment pointers](https://chimoney.io/usecases/interledger-issue-payment-pointers/) for simplified addressing (think email addresses for payments)
- [Transfer of value](https://chimoney.io/usecases/interledger-receive-and-send-payments/) between payment pointers.

## Real Use Cases
Integrating Chimoney’s Interledger Protocol (ILP) enabled solutions opens up numerous possibilities across various sectors. Here, we will explore two detailed use cases: building a freelance marketplace and creating an emergency aid distribution system for NGOs.

### Use Case 1: Freelance Marketplace
![Interledger blog 2.png](/uploads/Interledger_blog_2_1a2c3f2038.png)

Chimoney's API can significantly streamline payment processes in a freelance marketplace. Here’s a step-by-step breakdown of how this integration works:

**Step 1: Multi-Currency Wallet Setup**

_Create Wallets_: Set up Chimoney multi-currency wallets (USD, CAD, NGN) for both freelancers and payers. This allows transactions in various currencies, accommodating users from different regions.

**Step 2: Issue Payment Pointers**

_Generate Payment Pointers_: Create unique payment pointers for both the freelancer and the payer. These pointers serve as simplified addresses for sending and receiving payments, similar to email addresses.

**Step 3: Payment Flow**

_Task Completion_: Once the freelancer completes a task, they notify the payer that the work is done.

_Initiate Payment_: The payer sends payment directly to the freelancer’s wallet by transferring funds from their own payment pointer to the freelancer’s payment pointer.

### Use Case 2: Emergency Aid Distribution System for NGOs
![Interledger blog 3.png](/uploads/Interledger_blog_3_1ff38a5725.png)

Another application of Chimoney's ILP integration is in the development of an emergency aid distribution system for non-governmental organizations (NGOs). 

Here’s how it can be structured:

**Step 1: Multi-Currency Wallet Creation**

_Set Up Separate Wallets_: Create distinct multi-currency wallets for different aid programs within the NGO. This organization helps track funds allocated to various initiatives.

**Step 2: Issue Payment Pointers**

_Generate Payment Pointers for Beneficiaries and the Organization_: Both the organization and each beneficiary are assigned unique payment pointers linked to their respective wallet accounts. These payment pointers allow for easy identification and tracking of aid distribution.

**Step 3: Instant Value Transfer**

_Disbursement of Funds_: When aid is ready to be distributed, the NGO can instantly transfer value from its program-specific wallets to the beneficiaries' wallets using their respective payment pointers.

## Chimoney App Case Study
![Interledger blog 4.png](/uploads/Interledger_blog_4_271645dd76.png)

[The Chimoney App](https://chimoney.app/), powered by the Interledger Protocol (ILP), is transforming peer-to-peer payments for Canadians by eliminating the need for traditional banking intermediaries. When users create an account, they are assigned a unique Interledger Payment Pointer, which acts as a simplified identifier for direct money transfers. 

The ILP integration ensures secure and compliant transactions while simplifying the payment process with its interoperable infrastructure. 

To discover more about the Chimoney App and its features, click [here](https://chimoney.app/blog/chimoney-app-transforming-how-canadians-achieve-financial-freedom).

## Future Developments
An exciting upcoming development is Chimoney’s integration of Web Monetization, which, still building on the foundation of the Interledger Protocol (ILP) , transforms the way value is transferred online allowing websites and applications to stream payments in real time. 

Leveraging this technology, Chimoney aims to make monetization more accessible, seamless, and inclusive for creators, developers, and businesses globally.

Through the integration of Web Monetization with Chimoney, users can:
- **Earn Micro-Payments in Real Time**: Websites and platforms can stream payments directly to creators via Chimoney Payment Pointers, bypassing the need for traditional ad-based revenue models.

- **Enable Inclusive and Global Monetization**: With Chimoney’s multi-currency wallets and global reach, value can be transferred across borders efficiently, breaking down geographical and financial barriers.

- **Enhance Engagement and Transparency**: By rewarding users instantly for actions like engaging with content, completing tasks, or contributing to open-source projects, Chimoney enables a frictionless, privacy-respecting monetization model.

## Conclusion
The combination of Chimoney and ILP represents a significant step forward in making cross-border value transfer accessible to companies and developers alike. 
Ready to start implementing? Check out the [Chimoney API documentation](https://chimoney.readme.io/reference/post_v0-2-accounts-issue-wallet-address). The future of cross-border payments is being built one integration at a time!


Learn how Chimoney and Interledger are revolutionizing cross-border remittances through low-cost, fast, and transparent payment solutions for global transactions.

Building the Future of Cross-Border Remittances with Chimoney and Interledger

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So now you’ve arrived at one of the most critical aspects of your startup: providing seamless payment solutions to your customers. With the premise of convenience and practicality sworn by eCommerce, what steps have you taken to make purchasing in your online store smooth and worry-free?

Like many startups, navigating through the competitive and overwhelmingly congested world of eCommerce can truly be challenging. By now, you’ve already realized that beyond ensuring high-quality products and services, this should also extend to the overall shopping experience of your consumers.

As per Salesforce, 90% of customers actually give more importance to the experience provided by the company on top of the products sold. Hence, it’s crucial to look into every touchpoint—from browsing to purchasing support, most especially to providing seamless payment solutions.

Through this guide, we hope to give you clarity on the direction of how you can provide a better experience to your customers. Particularly, we’ll delve into the following:
- Importance of seamless payment solutions
- Things to look for in a reliable payment solutions service provider
- The best payment solutions for startups

Ready? Let’s answer your queries one by one!
## Why Seamless Payment Solutions for Startups is Important
Nothing is more annoying to a customer than that long and confusing checkout process. In fact, this is the reason why 28% of online shoppers opt to abandon their carts—something that you definitely would want to avoid. This is where the importance of seamless payment solutions comes into play.

Here are the key reasons why providing a seamless payment experience is important:

- **Customer Satisfaction**. Providing a seamless payment solution not only enhances the shopping experience but also builds trust among customers, eventually encouraging them to return, make another purchase, or even better, refer your store to others.

- **Increased Conversion Rates**. By removing unnecessary steps and offering multiple payment methods, you get to remove difficulties faced when checking out and help increase the conversion rate by 5-10% or even higher.

- **Cost Efficient**. Tapping into the latest innovations in tech might seem like a big investment, especially for a startup. That’s why, in many cases, some still choose to operate manually. However, this approach is slower and comes with distinct disadvantages, especially now that people are always seeking efficient transactions. With AI, many operations are now streamlined, reducing manual errors and cutting down long-term costs. By investing in the right payment solutions, you can actually save money over time.

- **Enhanced Security**. With the growing risks of cyber threats among startups, it is crucial to secure a payment solution that comes with advanced security features that can protect both your eCommerce store and your customers from fraud.

## What are the Things to Look for in a Reliable Payment Solutions Service Provider?
Apart from seamless payment solutions, a reliable merchant partner empowers you to provide better services and can scale with you as the business grows. You deserve a kind of partnership that can handle increased transaction volumes and expand your offerings while maintaining the same level of quality and efficiency.

One search on the internet and a lot of payment solutions service providers will pop up. But how do you narrow down the list? Well, here are some key features that you might consider looking into:

- **Pricing Structure**. Let’s not beat around the bush. As a startup, you have to be aware of the pricing structure that suits your budget and business model. Selecting the right pricing strategy can make a significant difference in your profitability and scalability. Some providers offer tiered pricing based on transaction volume, alongside comprehensive payment solutions—including unlimited access to APIs, fund wallet options, chat support, and additional services that cater to the diverse needs of your business. Thoroughly review the benefits offered and make sure to understand the long-term impacts to ensure financial stability and growth.

- **Strong Security Features**. Small companies are highly susceptible to data breaches or cyber-attacks. If you’ve read Cybernews’ comprehensive [**ExpressVPN review**](https://cybernews.com/best-vpn/expressvpn-review/), you'll realize how crucial it is to evaluate and compare the features of the products or services you use. Everyone is at risk of account breaches, and you certainly don’t want this happening to your startup business.
 That’s why choosing the right payment solution can make or break your venture. Look for partners who can handle sensitive cardholder information securely and do not use your data resources unless authorized. Additionally, as updates can occur throughout the year to strengthen security features, make sure that the provider seeks your approval before integrating or employing any changes. Most importantly, ensure that the payment solution services provider is PCI/DSS compliant to secure the credit card transactions passing through your processor. This way, you can protect your business and your customers’ data effectively.

- **Support Multiple Channels and Payment Methods**. Again, capitalize on ease and convenience. Meet your customers where they are—literally and figuratively.  Choose a payment solution that supports a range of payment methods and currencies to cater to the needs of your global customers—be it bank transfer, mobile money, gift cards, and so on. By bringing these options into your startup, you not only improve the shopping experience but also help broaden your customer base and boost your sales.

- **Easy Integration**. With all the challenges you’ve faced in launching your startup, saving yourself from another set of technicalities can help you focus more on your business needs. Hence, an ideal payment solution partner should be able to easily integrate into your existing systems and platforms. 

You should not be the one adjusting. It should not disrupt the already established operations of your eCommerce store. Look for providers that offer comprehensive APIs, ensuring smooth and efficient integration into your workflow and allowing you to maintain operational continuity while enhancing your payment process.

## The Best Payment Solutions for Startups
Indeed, launching a startup is not an easy feat—especially now that you’re in the process of securing a seamless payment solution. While there are many options to choose from, if it’s the 3 S’s—seamless, secure, and scalable payments—then [**Chimoney**](https://chimoney.io/) is the perfect partner for you.

From easy API integration providing multi-currency wallets, cross-border payments, and top-tier security features, Chimoney is built to support startups at every stage. Our pricing and benefits are designed with growing businesses in mind, making it easier for you to scale without breaking the bank.

As you build and grow in 2025, choose a payment solution that grows with you. Power your startup with Chimoney and deliver better services and experiences to your customers. [**Get started today**](https://chimoney.io/?book_a_demo=1)! 



Discover the key to seamless, secure, and scalable payment solutions for your startup. Learn how the right provider can boost customer satisfaction, increase conversions, and enhance security. Find out why Chimoney is the perfect partner to power your business growth in 2025!

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