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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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Imagine you're hosting a charity baking event to raise funds for an underserved community overseas, helping them gain access to 24/7 electricity and clean water. After reaching your fundraising goal, you send the money using a platform like PayPal, feeling a sense of accomplishment. However, days later, when you check for updates, there’s no clear confirmation that the funds have reached their intended destination. What was once excitement about making a difference quickly turns into frustration and uncertainty.

A better solution? **Chimoney**.

Chimoney enables seamless global payouts to over 130 countries using just an email address. In this case, the community you’re supporting can instantly redeem the funds to their registered bank account or mobile money, depending on their preference.

This article explores how global payout platforms like Chimoney can empower non-profits and community initiatives by providing a transparent, efficient, and cost-effective way to streamline international transfers.

## How Global Payout Platforms Offer Transparency and Save You Money

Non-profits often face a common challenge when using traditional banking to send funds overseas: these platforms typically charge high fees for transactions and require additional payments to access many of their services. For example, [just in 2023 alone, nonprofits collectively spent approximately $3 billion on transaction fees.](https://www.zeffy.com/blog/nonprofits-paid-2-billion-in-transaction-fees-last-year). In other words, traditional banking platforms can be prohibitively expensive. 

Unlike traditional banks, Chimoney offers transparent and affordable payment rates, with clearly disclosed fees, making it easier for nonprofits to plan and budget their funding effectively. The platform was founded by [Uchi Uchibeke, who experienced firsthand the high fees of traditional banking while trying to send prize money to winners of AfriHacks, a hackathon he was hosting.](https://chimoney.io/blogs/techstars-backs-chimoney-to-revolutionize-global-payouts/) With Chimoney, he was able to pay the winners without hidden fees. 

Transparent pricing is just one of the many ways global payout platforms like Chimoney can empower your non-profit or community initiative. Next, let’s explore another key advantage.

## Overcoming Geographical Barriers

Another common issue that nonprofits and community initiatives face when it comes to sending funds overseas is restrictions that limit them to certain countries. This limitation can be especially challenging for organizations whose mission is to provide aid to those in need, regardless of location. Unlike traditional banks, [Chimoney enable transactions in over 100 countries worldwide](https://chimoney.io/payouts/), giving nonprofits the freedom to support their intended recipients wherever they are. With this capability, nonprofits can overcome geographical barriers and better fulfill their mission.

## Ensuring Timely Fund Transfers

It may sound cliché, but "time is money" truly applies when it comes to getting funds where they’re needed—on time. Unfortunately, traditional banks often have limited transfer windows, especially for international transactions, as they [must follow country-specific protocols](https://tipalti.com/resources/learn/global-payouts/#the-challenges-that-face-global-payouts). For instance, Bank of America customers who need to send international transfers can only do so [by 5:00 pm Eastern Time](https://www.bankofamerica.com/help/cutoff-times/), and they [must use SWIFT codes](https://info.bankofamerica.com/en/digital-banking/wire-transfers), which can add [delays to the process](https://meestpay.com/what-is-swift-money-transfer-and-its-disadvantages/). These restrictions can hinder nonprofits by delaying the vital funds needed for their communities.

Global payout platforms like Chimoney offer fast delivery and 24/7 payment processing, allowing nonprofits to make quick, reliable transfers across borders. This means no waiting for banking hours or dealing with restrictive protocols—funds reach recipients quickly. For example, [AfricaHacks uses Chimoney's bulk payout feature to reward hackathon winners](https://chimoney.io/blogs/5-types-of-people-who-should-use-chimoneys-bulk-gift-cards-feature/). With just one click, all winners receive their payouts instantly, redeemable via bank transfers, mobile money, airtime, or gift cards.

Now, before you go, there’s just one more benefit of using global payout platforms like Chimoney for nonprofit funding.

## Expanding Transfer Options

Even though traditional banks provide ways to send money, their options are often limited. For instance, [Bank of America only allows users to send money internationally via its website or mobile app](https://info.bankofamerica.com/en/digital-banking/wire-transfers), while some local banks require in-person visits. This setup can be a challenge for nonprofits, as the communities they serve may lack access to these specific channels or may not have these banks in their country.

In contrast, global payout platforms like Chimoney offer a wider range of transfer methods, allowing nonprofits to choose the delivery method that best meets the needs of their organization and recipients. For example, through Chimoney’s partnership with the [International Student Identity Card (ISIC), students can manage their finances more easily](https://chimoney.io/blogs/chimoney-partners-with-isic-to-expand-global-benefits-for-chimoney-app-users/) and send or receive funds through email, or within Chimoney app.

Now that you know the advantages of global payout systems, let’s explore how Chimoney's platform can further empower nonprofits and communities.

## How Chimoney Empowers Communities and Non-profits

Before spending time searching for global payout platforms, consider Chimoney. The platform simplifies payments for non-profits, helping them receive donations from around the world through Chimoney wallets. With [TryOpenGiving](https://tryopengiving.com/), an open-source platform developed by Chimoney, non-profits can accept donations via Chimoney, [Interledger](https://interledger.org/), and other payment methods, making financial contributions seamless and accessible for both donors and organizations.

## Now It's Your Turn

Timely financial support and transparency are essential for empowering non-profits and community initiatives to drive meaningful change. With the right global payout solution, you can enhance your impact, ensuring funds reach the people who need them most. Take the first step toward transforming your community and discover how Chimoney can unlock new possibilities.
___

### About the Author

Christine Belzie is a technical writer and open source maintainer. Her articles have been featured on websites like FreeCodeCamp and Pieces For Developers. If you want to connect with her, check out her socials on [Linktree](https://linktr.ee/ChrissyCodes).


Discover how global payout platforms like Chimoney can help non-profits and community initiatives send funds overseas with transparency, lower fees, and faster transactions. Learn how to overcome banking challenges and maximize your impact.

How Global Payout Platforms Like Chimoney Empower Communities and Non-profits

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The new year is a time for fresh starts and new goals. Many of us make resolutions to improve ourselves, help others, or achieve something meaningful. But as the days go by, sticking to those resolutions can become challenging. That’s why we've created the **Resolution Revolution Challenge**—a way for you to inspire others while building something valuable.

This challenge is open to everyone, whether you're a creative thinker, a no-code enthusiast, or someone curious about using AI to solve everyday problems. You don’t need any technical skills—just your ideas and a willingness to bring them to life.

## What Is the Challenge About?

The Resolution Revolution Challenge is about creating solutions that help people stick to their New Year’s resolutions. These solutions can take many forms, such as:

- A no-code template for better organization or goal-tracking.
- An AI-powered tool to keep people motivated.
- A creative campaign that spreads encouragement.
- A community initiative that brings people together to achieve their goals.
The possibilities are endless, and your ideas could make a real difference in someone’s life.

## Why Should You Join?
1. **Win a Share of $400**: We have a total prize pool of $400 waiting for participants with the most impactful ideas.
2. **It’s for Everyone**: You can join alone or with a team. You don’t need coding skills or technical expertise—just bring your creativity.
3. **Help Others Succeed**: Your submission could be the tool or idea that helps someone stay on track and reach their goals in 2025.

## Challenge Timelines
### 1. Registration Period: Ends on January 18, 2025
- Ensure you sign up before this date to participate.

### 2. Idea Storming and Team Formation:
- Join a team or create your own.
- Brainstorm ideas on how to help others stick to their resolutions.

**Deliverables:**
> A brief description of your idea (max 150 words).
> Identification of your target audience and how your idea helps them.
> Optional sketches or visual concepts.

### 3. Planning and Prototyping:
- Create a detailed plan and work on a basic prototype of your idea.

**Deliverables:**
> A project outline (max 300 words) detailing goals and steps.
> An early version of the resource, campaign visuals, or basic prototype.

### 4. Execution and Documentation:
- Complete your project, ensuring it’s polished, and gather documentation.

**Deliverables:**
> Final version of the product (e.g., PDF, video, or online resource).
> Summary of how your product assists others in sticking to their resolutions.
> Team reflections on what worked and what could be improved.

### 5. Presentation Submission:
- Prepare a final submission package that ties together all deliverables.

**Deliverables:**
> A short presentation (PDF or video, max 3 minutes).
> A final write-up (max 250 words) explaining your project, its purpose, and potential impact.

## How to Join
- **Sign Up**: [Click here to sign up for the challenge.](https://bit.ly/Resolution-Challenge)
- **Build and Submit**: Work on your idea and submit it by January 21, 2025.

## Need Help?
If you have questions or need support while working on your submission, feel free to reach out to us at [community@chimoney.io](community@chimoney.io) 

Let’s start 2025 by making a positive impact together. [**Join the challenge today!**](https://bit.ly/Resolution-Challenge)

Join the Resolution Revolution Challenge and inspire change in 2025! Build creative, no-code, or AI-powered solutions to help others stick to their New Year's resolutions. No technical skills required. Submit by January 21, 2025, for a chance to win a share of $400!

Introducing the Resolution Revolution Challenge: Make an Impact in 2025

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## Introduction

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

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

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

___

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

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

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

___

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

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

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

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

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

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

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

**1. Create a User Wallet**

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

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

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

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

**2. Purchase Credits:** 

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

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


**Code Example: Initiate a Payment Request**

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

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


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

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

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

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

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

___
### Step 3: Tracking and Deducting Credits

**Credit Structure** 

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

**Code Example: Credit Entry**

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


**Deducting Credits (LIFO Approach)** 

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

**Code Example: Deduct Credit**

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

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

**API for Adding Credit Entries**

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

**Code Example: Top-up credit**

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

**1. Calculate the Total Remaining Credits**

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

**Code Example: Calculate Credit Balance**


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

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


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

**Code Example: Credit Balance Endpoint**

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

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

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

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

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

**Code Example: Monitor Chimoney Webhooks**

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

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


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

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

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

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

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

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

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

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

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


**Code Example: Initiate a Payment Request**

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

**Code Example: Monitor Chimoney Webhooks**

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





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

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

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We’re excited to introduce the **Chimoney App**, designed to empower Canadians with simple, secure international transactions. With just an email address or phone number, users can send money to over 100 countries—making cross-border payments feel as easy as sending a text. Chimoney is one of Canada’s first companies to integrate with Interledger, enabling users to complete transactions on web monetization-enabled pages through the Chimoney App and receive payments from anyone online.

## Key Features of the Chimoney App

- **Global Money Transfers**: The Chimoney App allows users to send money across borders simply by using the recipient's email address or phone number, removing the need for complex account details. This feature supports transactions to over 100 countries, making global transfers as easy as sending a text.

- **Multi-Currency Wallets**: Users can hold and manage balances in multiple currencies—specifically USD, CAD, and NGN. They can switch seamlessly between currencies, making it convenient for cross-border transactions without needing separate accounts for each currency.

- **Flexible Payment Options**: Recipients can choose how to receive funds, including bank transfers, mobile money, airtime, gift cards, or local options such as CAD withdrawals via Interac Email, NGN withdrawals to Nigerian bank accounts, and USD withdrawals to U.S. bank accounts.

- **Universal Payment Links**: Chimoney’s Universal Payment Requests enable users to request payments in CAD, USD, or NGN from specific email addresses directly through the app. Once a payment request is made, the payer receives an email with a secure payment link, which they can use to fulfill the payment. The requested amount is instantly credited to the requester’s Chimoney App wallet in the specified currency, providing a smooth and efficient transaction experience.

## Designed to Support Canadians in Every Walk of Life

### Everyday Canadians and Small Businesses
Chimoney recognizes the everyday challenges Canadians face, from rising costs to daily essentials. Designed to support hard-working Canadians and small businesses, Chimoney offers CAD bank accounts, simple payment solutions, and currency exchange services that make managing finances affordable and accessible. Whether sharing bills or sending funds internationally, Chimoney provides essential tools for economic stability.

### Freelancers and Remote Workers
Canada’s freelance and remote talent requires reliable payment options. With Chimoney’s Universal Payment Links and multi-currency wallets, Canadian freelancers and remote workers can easily receive international payments, strengthening Canada’s role as a global talent hub.

### International Students
For Canada’s diverse student community, Chimoney provides financial flexibility. Without needing additional bank accounts, international students can manage funds efficiently, allowing them to focus on academics and contribute meaningfully to Canadian society.

### Canadian Associations and Community Groups
Chimoney proudly partners with Canadian associations and community organizations, offering tailored financial solutions and perks that support group finances and member engagement, making Chimoney a trusted choice for organizations across the country.

## What Powers Chimoney App?

The Chimoney App is powered by the **Chimoney API**, which provides a secure and user-friendly payment experience through the Interledger Protocol (ILP). This integration not only simplifies global transactions but also equips Canadians with financial tools that bypass traditional banking obstacles.

### Key API Features

- **[Multi-Currency Wallet Creation](https://chimoney.readme.io/reference/post_v0-2-multicurrency-wallets-create)**: When users sign up, multi-currency wallets are automatically created for them allowing them to manage balances across USD, CAD, and NGN within the Chimoney ecosystem.

- **[Issuing Interledger Wallet Addresses](https://chimoney.readme.io/reference/post_v0-2-accounts-issue-wallet-address)**: Each user is assigned an Interledger wallet address, which allows them to receive payments directly through the link into their Chimoney App wallet.

- **[Multi-Currency Wallet Transfers](https://chimoney.readme.io/reference/post_v0-2-multicurrency-wallets-transfer)**: The **Get Paid** feature allows users to get paid when the sender clicks 'Pay Now'. The transfer of payment from the sender's wallet to the receiver's wallet is powered by the multi-currency wallet transfer endpoint which routes the payment through the Interledger network when 'send via Interledger' is enabled.

- **Webhook Notifications**: Chimoney sends webhook notifications to both parties involved in the payment process, confirming that the sender’s wallet is debited and the receiver’s wallet is credited.

## Integrating with the Chimoney Interledger-Enabled API

1. **Register for API Access**: Start by signing up at [**sandbox.chimoney.io**](https://sandbox.chimoney.io) to obtain your API key.

2. **Explore the Documentation**: Our [**Chimoney API Documentation**](https://chimoney.readme.io/reference/introduction) provides step-by-step guidance on creating multi-currency wallets, issuing Interledger wallet addresses, and managing wallet transfers.

3. **Test and Deploy**: Use our Sandbox environment for testing to ensure smooth integration before going live.

## Get Started with Chimoney

For businesses seeking to explore how to integrate Chimoney App features  using our API, [book a demo with us today!](https://chimoney.io). For more details about our mission to enable financial freedom, visit our website at [chimoney.io](https://chimoney.io).


The Chimoney App offers Canadians a seamless solution for global payments, enabling secure transactions to over 100 countries with just an email or phone number. Manage multi-currency wallets, send money easily, and enjoy flexible options tailored for freelancers, students, small businesses, and community groups.

Introducing the Chimoney App: Seamless Global Payments for Canadians

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

## New Features

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

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

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

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

## Updates

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

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

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

## Fixes

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


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

September Changelog

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

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

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

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

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

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

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

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

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

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

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


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

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

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

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


## Fixes

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


Discover the latest fixes and updates from August 2024.

August 2024 Changelog

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## Introduction
We are excited to announce the next chapter in our partnership with the [Interledger Foundation](https://interledger.org/news/interledger-foundation-partners-chimoney)! Building on the success of our [Interledger Financial Services Research Grant](https://chimoney.io/blogs/chimoney-and-interledger-bridging-global-payment-systems-for-the-future/), we're thrilled to announce an expansion of the Partnership to enable Interledger Support in Chimoney’s Multicurrency Wallets. This advancement marks a significant leap towards our mission of financial inclusion and economic empowerment.

## Economic Empowerment with Enhanced Interledger Integration
At Chimoney, we believe that financial services should be a universal right, not a privilege. Our integration will significantly boost the capability of Chimoney Wallets. This will enable secure and compliant transactions using Interledger Payment Pointers, facilitate Peer-to-Peer (P2P) transfers, and ensure seamless cross-border payments, expanding digital financial services to tens of thousands of users globally.

## Key Benefits of The Interledger Integration:
- **Interledger Payment Pointers:** Ensures secure and compliant transactions.
- **Peer-to-Peer (P2P) Transfers:** Facilitates easy and instant transfers between our users.
- **Seamless Cross-Border Payments:** Enhances global financial money movement through Chimoney [Global Payouts](https://chimoney.io/payouts/) and [Payment Infrastructure and APIs.](https://chimoney.io/developers-api/)
- **Web Monetization:** Offers new ways for our users to earn and spend money online through micropayment powered by Interledger.

## Advancing Global Financial Inclusion and Innovation
Our collaboration with the Interledger Foundation is more than just a partnership; it's a commitment to breaking down financial barriers and democratizing access to financial services. The Chimoney Interledger App, along with the enhanced integration, represents a step towards realizing our vision of a financially inclusive world where everyone is empowered to earn, spend, and send money freely like Chi*.

## Join the Movement
- **For Fintech Builders and Innovators:** Ready to integrate inclusive financial solutions into your platform? Partner with Chimoney and leverage our improved Interledger capabilities. [Book a demo today](https://chimoney.io/demo)

- **For Our Global Community:** Follow us on [Twitter](https://twitter.com/chimoney_io), [LinkedIn](https://www.linkedin.com/company/chimoney/), and [Instagram](https://www.instagram.com/chimoney_io/) to stay updated on our progress and join us in our mission to democratize financial services worldwide. Together, let's build a world where financial empowerment is accessible to all.
___
_* Chi is your life force, the energy that flows through you and through everything. Chi in Chimoney is our vision to make money flow through every payment system in the world._

Chimoney expands its partnership with Interledger to enhance financial inclusion with secure, seamless global transactions.








Chimoney & Interledger: Expanding Global Financial Access

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We are excited to share the latest updates from June and July 2024! Here’s a summary of the new features, improvements, and bug fixes released during this period:

#### New Features

- **New Endpoints:**
  - We've introduced a new endpoint [`Get Community Members`](https://chimoney.readme.io/reference/get_v0-2-sub-account-community-members-1) that allows you to retrieve all members of a particular community via the Community ID.
  - Now, you can search for [Payee/Merchant information](https://chimoney.readme.io/reference/post_v0-2-info-bill-merchants-ca-1) and seamlessly integrate Canadian bill payments into your applications using the new [`Payout Canadian Bill Payment`](https://chimoney.readme.io/reference/post_v0-2-payouts-bills-ca-1) endpoint.
  
- **Personalized Onboarding Email:** New users on Sandbox now receive a personalized email from our CEO during onboarding. It’s our way of saying “Welcome to the family!”
![Pink Blue Purple Modern Gradient Music Youtube Banner.png](/uploads/Pink_Blue_Purple_Modern_Gradient_Music_Youtube_Banner_943f354da2.png)
  
- **[Use Case Page:](https://chimoney.io/api-use-cases/)** We’ve added a new use case page on the Chimoney website detailing various Chimoney API use cases. This page is your go-to guide for understanding how to leverage our API in real-world scenarios. 
  ![shots.png](/uploads/shots_e3668dd305.png)
- **[Developer Toolkit Page:](https://chimoney.io/toolkit/)** Our new developer toolkit page is live! It features resources and tools for developers, including documentation, SDKs, and integration guides, to ensure your development process with the Chimoney API  is smooth.
  
  ![shots (1).png](/uploads/shots_1_e627299ac3.png)

#### Improvements

- You can now add a personalized message of up to 250 characters in payout transaction bodies and API responses.
- We’ve refined the Transactions table logic to better display wallet-based transactions and incorporate user-specific currency wallets, making it easier for you to track your transactions.
- We enhanced the user search functionality on our Chimoney user management admin dashboard. Finding users is now quicker and simpler, just for you!
- The [Canadian bills payment endpoint](https://api.chimoney.io/api-docs/#/Payouts/post_v0_2_payouts_bills_ca) endpoint now supports USD/CAD with the optional debitCurrency parameter, and we’ve removed the valueInUSD limitation in the Swagger docs for more flexibility in your transactions.
- We’ve added the logic of cleaning up the organization’s member email list by removing users with invites still showing after acceptance, ensuring your lists are accurate and up-to-date.
- We updated the [privacy policy](https://chimoney.io/privacy-policy/) to provide a comprehensive legal framework for users.
- We also improved the UI of our [testimonials page](https://chimoney.io/testimonials/) to make browsing through user/client feedback a pleasant experience.
   
  ![shots (2).png](/uploads/shots_2_9d377d18ff.png)

#### Bug Fixes

- We’ve fixed the logic for marking transactions as debit or non-debit based on the issuer and wallet owner to ensure your transaction records are always accurate.

- Now, you are able to send money to wallets using account IDs.

- We've corrected the double card bug in the organization team section, caused by client IDs being added to both admin and member arrays, to keep your team list clean and accurate.

- We've prevented organization users from inviting already existing emails, including their own, to avoid duplicates and confusion. 

- Airtime redemption in Kenya is now restricted to Safaricom, ensuring a more reliable service for our Kenyan users.

- The organization onboarding process has been improved by rendering validation errors in real-time, allowing you to correct mistakes before form submission for a smoother experience.

We hope these updates enhance your experience with Chimoney! As always, we welcome your feedback and are here to help with any questions.

Read about the latest updates and improvements in our June/July 2024 Changelog, including new features, enhanced functionalities, and bug fixes.








June/July Changelog

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Finding the right payment solution can greatly enhance your business operations, making them more efficient and improving the customer experience. Since handling payments is crucial for any business, choosing the best solution is essential. The right payment system should boost your business performance and meet your specific needs. Fortunately, there are many payment options available today.

In this article, we will guide you through selecting the ideal payment solution for your business. Additionally, we will explore why Chimoney stands out as an exceptional payment solution, offering unique features that can significantly improve your business operations.
## Understand your Specific Business Requirements

The first step to consider as you are in the process of deciding on the best payment solution is to evaluate the following; business model, transaction volume, customer base, and global reach.

### Business Model

Different business models have unique payment needs. For example, if your business is an online store, you’ll need a payment solution that supports various payment methods, such as credit/debit cards, digital wallets (like PayPal and Apple Pay), and bank transfers.

For businesses that offer subscription services, such as streaming platforms or SaaS companies, you’ll need a payment solution that handles recurring payments and supports automated billing cycles, flexible subscription plans, and easy payment updates.

Traditional retail stores will require a payment solution that supports in-person transactions. This includes POS (Point of Sale) systems that can process credit/debit card payments, contactless payments (like NFC), and mobile wallets.

### Customer Base

Depending on your services, customers will have their preferred payment option and this is also a key factor as you choose a payment solution. Different options that are currently available are:

- **Credit/Debit Cards:** These are commonly used worldwide and are essential for any payment solution. For example, in North America and Europe, credit cards are a dominant payment method. Ensuring your payment solution accepts major card networks like Visa, Mastercard, and American Express is vital.

- **Digital Wallets:** Digital wallets such as PayPal, Apple Pay, Google Wallet, and Samsung Pay have gained popularity, and younger demographics and those in regions with high smartphone penetration rates often prefer these methods due to their convenience and security features.

- **Bank Transfers:** In some regions, direct bank transfers are the preferred method of payment. This is particularly true in parts of Asia and Europe, where services like SEPA (Single Euro Payments Area) transfers and local bank transfer options are commonly used. In Canada, Interac e-Transfer is a popular option, enabling secure and quick bank transfers directly between accounts.

- **Mobile Money:** In Africa, particularly East Africa, mobile money has become the predominant payment solution. Mpesa, which originated in Kenya, is a prime example of this widespread adoption.

### Transaction Volume

- **Daily Transactions:** If your business processes a high volume of transactions daily, such as a popular e-commerce site during a sales event, you need a payment solution that can handle the load without delays or downtime. High transaction volume can impact processing times and fees, so it's important to choose a provider that offers robust infrastructure and competitive pricing.

- **Weekly/Monthly Transactions:** For businesses with more predictable or lower transaction volumes, such as a subscription service with monthly billing cycles, the focus should be on ensuring reliability and accuracy in recurring billing processes. The payment solution should handle scheduled payments seamlessly and provide clear reporting for financial management.

### Global Reach

If your business operates internationally, you need a payment solution that supports multiple currencies, cross-border transactions, and regulatory compliance:

- **Multiple Currencies:** Your payment solution should be capable of handling various currencies to cater to customers from different countries. This includes offering a currency conversion feature and multi-currency wallets.

- **Cross-Border Transactions:** International transactions can involve additional complexities, such as higher fees, regulatory compliance, and fraud risk, so it’s essential to choose a payment provider with experience in cross-border payments.

- **Regulatory Compliance:** Ensure your payment solution complies with international regulations and other local regulations. This ensures smooth operations and avoids legal issues.

## Key Features To Look For

Once you have a clear understanding of your business needs, evaluate the payment solutions available based on the following features:

- **Ease of Integration:** Choose a payment solution that can be easily integrated with your existing systems and platforms. Integration should be straightforward and minimally disruptive to your operations. 
[Chimoney offers a comprehensive API that ensures smooth and efficient integration](https://chimoney.io/developers-api/), making it easy to incorporate into your current workflow.

- **Security and Compliance:** Security is paramount when dealing with financial transactions. Ensure that the payment solution complies with industry standards and regulations. 
Chimoney provides security features, safeguarding both your transactions and customer data against potential threats.

- **Versatility and Flexibility:** An ideal payment solution should support various payment methods and currencies to cater to a diverse customer base. 
Chimoney excels in this area by offering [payouts to over 100 countries](https://chimoney.io/payouts), and multi-currency wallets in USD, CAD, and NGN. Users can also cash out to a variety of options including Bank transfers, Mobile Money, and Gift cards. This versatility ensures that you can meet the needs of different customers, regardless of their preferred payment method.

- **Cost-Effectiveness:** It's important to consider the costs involved with each payment solution, including transaction fees, setup fees, and any hidden charges. 
Chimoney provides transparent pricing, ensuring you understand what you're paying for and receive good value for your money.

- **Customer Support:** Reliable customer support is essential for promptly resolving any issues that may arise. 
Chimoney offers dedicated support to assist you whenever needed, ensuring that any problems are addressed quickly and efficiently. Good customer support can make a significant difference in maintaining smooth operations and customer satisfaction.

## Benefits of Choosing Chimoney

- **[Multi-Currency Wallet as a Service (WaaS)](https://chimoney.io/multi-currency-wallets/):** Chimoney’s Multi-Currency Wallet as a Service (WaaS) allows businesses to create and manage digital wallets effortlessly. This feature is particularly beneficial for businesses looking to offer a seamless and secure way for customers to store and use funds in multiple currencies. WaaS integrates smoothly with various platforms, providing both flexibility and ease of use, ensuring a seamless customer experience. 

  _For more details on Chimoney's Multi-currency wallets, you can read the blog post: [Exploring the Future of Global Payments with Multi-Currency Wallets](https://chimoney.io/blog/multi-currency-wallets)._

- **[Payouts to 100+ Countries:](https://chimoney.io/payouts/)** For businesses with a global reach, Chimoney’s ability to facilitate payouts in over 100 countries is a significant advantage. This feature ensures efficient management of international transactions, reducing the complexity and cost associated with cross-border payments. With Chimoney, businesses can streamline their international payout processes, enhancing operational efficiency and customer satisfaction. 

  _[Test out payouts here](https://chimoney.io/)._

- **[Developer API:](https://chimoney.io/developers-api/)** [Chimoney’s Developer API](https://chimoney.io/developers-api/) enables businesses to integrate advanced payment functionalities seamlessly. With comprehensive documentation, robust security, and real-time transaction monitoring, developers can quickly implement and customize payment solutions. The API supports multiple platforms, scales effortlessly, and facilitates transactions in over 100 countries, making it a versatile tool for businesses looking to streamline their payment processes and improve operational efficiency. 

   _For more details, read our blog post: [The Ultimate Guide to Simplifying Global Payouts for Your Business with API Solutions](https://chimoney.io/blog/api-solutions)._

- **[Payment Requests & Invoices:](https://chimoney.io/payment-requests/)** Chimoney’s Payment Request feature simplifies the process of requesting and receiving payments. Freelancers, service providers, and businesses dealing with multiple clients can benefit greatly from Chimoney’s Payment Requests feature. It streamlines your payment process, ensuring timely and accurate payments.

## Steps to Implementing Chimoney

1. **Assessment and Planning:** 
- Evaluate your current payment processes and identify areas for improvement.
- Determine how Chimoney can address these needs effectively. 
-  [Booking a demo meeting with us here](https://chimoney.io/demo) can provide you with a personalized walkthrough of our solutions, helping you understand how Chimoney can seamlessly integrate into your business and optimize your payment operations.

2. **API Integration and Customization:**
- Access Chimoney’s comprehensive [API documentation](https://chimoney.io/api-docs) to understand the various endpoints and functionalities available.
- Integrate the Chimoney API into your application using the sandbox environment provided by Chimoney to test all functionalities without processing real transactions.
- Customize the API integration to suit your business needs, including setting up payment workflows, configuring multi-currency wallets, and implementing payout mechanisms.

3. **Security and Compliance:**
- Implement security measures to protect sensitive data, leveraging Chimoney’s built-in security features and following best practices for API security.
- Ensure your integration complies with relevant financial regulations and standards, facilitating smooth operation across different regions.

4. **Testing and Go-Live:**
- Conduct thorough testing in a live environment to ensure everything works as expected, including transaction flows, error handling, and user experiences.
- Once all tests are successful, move your integration to the live environment and start processing real transactions.

5. **Monitoring and Support:**
- Use Chimoney’s dashboard to monitor transactions in real-time, quickly identifying and resolving any issues.
- Take advantage of Chimoney’s dedicated support team for assistance with any technical issues or questions post-implementation.

## Conclusion

Choosing the right payment solution is a strategic decision that can significantly impact your business’s efficiency and growth. By considering your business needs, evaluating key features, and leveraging the benefits of Chimoney, you can ensure a satisfying payment experience for your customers. [Book a meeting with us today to experience this](https://chimoney.io/demo).


Learn how to choose the best payment solution for your business and discover why Chimoney is the ideal choice.








A Guide to Choosing the Right Payment Solution for Your Business

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

**Application**

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

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

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

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

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

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

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

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

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

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

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

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

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

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


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

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

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

#### Request Example

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

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

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

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

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

Happy coding with the Chimoney API!



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








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

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## Introduction

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

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

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

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

## What is Chimoney?

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

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

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


## Exploring Chimoney API Endpoints and Key Features

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

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


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


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


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


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


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


#### Redeem Endpoints

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


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

## Getting Started with Chimoney API

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

### Step 1. Creating a Chimoney Developer Account

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

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

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

### Step 2. Obtaining an API Key

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

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

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

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

#### Install Axios

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

```bash
npm install axios
```

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

#### Import Axios

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

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

#### Configure Request Options

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Happy coding with the Chimoney API!

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


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

large_Chimoney's Guide to Navigating Cross-Border Payments and Global Expansion@2x.png

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small_Chimoney's Guide to Navigating Cross-Border Payments and Global Expansion@2x.png

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Chimoney's Guide to Navigating Cross-Border Payments and Global Expansion@2x.png


Expanding a business internationally is exciting, but managing cross-border payments comes with its own share of challenges. Dealing with different currencies, regulations, and payment methods make it complicated. Chimoney’s API and infrastructure can help make these payments easier and smoother.

In this guide, we’ll look at the main aspects of cross-border payments and show how Chimoney’s API can help businesses handle common challenges, making global expansion easier.

### Understanding Cross-Border Payments

Cross-border payments involve transactions where the payer and the payee are in different countries. These transactions can be complex due to varying regulations, currency conversions, and different banking systems. Key components of cross-border payments include:

- **Currency Conversion:** Converting one currency to another at the current exchange rate.
- **Compliance and Regulation:** Adhering to the legal and regulatory requirements of each country involved in the transaction.
- **Payment Methods:** Accommodating different payment preferences and methods across countries.

### Challenges in Cross-Border Payments

Businesses face several challenges when dealing with cross-border payments:

- **High Fees:** Traditional cross-border transactions often come with high fees, including conversion fees and transaction fees.
- **Slow Processing Times:** International transactions can take several days to process.
- **Regulatory Compliance:** Navigating the regulatory landscape of multiple countries can be complex and time-consuming.
- **Currency Fluctuations:** Exchange rates can fluctuate, impacting the amount received by the payee.

### How Chimoney's API Simplifies Cross-Border Payments

Chimoney's API is designed to address these challenges, providing businesses with a robust solution for managing cross-border payments efficiently.

- **Cost-Effective Transactions:** Chimoney's API offers competitive exchange rates and low transaction fees, helping businesses save on costs associated with cross-border payments.
- **Fast Processing Times:** Chimoney's API enables real-time processing of cross-border transactions, significantly reducing the time it takes for funds to reach the recipient.
- **Regulatory Compliance:** Chimoney's API is designed with compliance in mind, ensuring that all transactions adhere to the regulatory requirements of each country involved.
- **Multiple Payment Methods:** Chimoney's API supports a wide range of payment methods, allowing businesses to cater to the preferences of their international recipients.
- **Currency Conversion:** Chimoney's API handles currency conversion seamlessly, providing accurate and transparent exchange rates.

### Integrating Chimoney's API: A Step-by-Step Guide

Integrating Chimoney's API into your business can greatly simplify your cross-border payment processes. For a detailed walkthrough, please refer to our comprehensive blog post on [Integrating Chimoney's Global Payouts API](https://chimoney.io/blogs/the-ultimate-guide-to-simplifying-global-payouts-for-your-business-with-api-solutions/).

## Conclusion

Navigating cross-border payments doesn't have to be complex and costly. With Chimoney's API, businesses can streamline their international transactions, reduce costs, and ensure compliance with regulatory requirements. By leveraging the power of Chimoney's technology, businesses can focus on what matters most: growing their global footprint and delivering value to their international clients and partners.

[Book a demo](https://chimoney.io/?book_a_demo=1) with us today to see how Chimoney can transform your cross-border payment processes and support your business's global expansion.


Learn how to venture into an efficient global expansion with Chimoney's API! Discover how to simplify cross-border payments, reduce costs, and ensure compliance. Book a demo now for a seamless international payment strategy.







 Chimoney's Guide to Navigating Cross-Border Payments and Global Expansion

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According to KPMG's 2022 Global Technology Report*, a significant number of Canadian businesses are leveraging technology to advance their business strategies, with digital transformation playing a key role in improving efficiency and profitability. The global payments sector is experiencing substantial growth, with projections suggesting it will have an annual revenue growth of 9 percent by 2026.*

In this context, [Chimoney](https://chimoney.io/) has emerged as a leading solution for Canadian startups seeking to optimize their bulk payout procedures. In this article, we’ll explore the primary reasons why an increasing number of startups are choosing Chimoney, with relevant insights.

## Key Reasons Startups Are Choosing Chimoney

### 1. Chimoney-Interac Integration
[Chimoney’s INTERAC™ e-Transfer Bulk Payments](https://chimoney.io/blogs/interac-e-transfer-bulk-for-canadian-businesses-integration-and-api/) make it easy to send payouts to recipients across Canada. Additionally, the Chimoney Interac Collection API facilitates the efficient collection of payments from Canadian users. This integration appeals to startups seeking seamless, reliable, and scalable payment solutions that easily fit into their existing systems.

For example, [Reeple](https://www.reeple.ai/), a Canadian-based fintech company, integrates Chimoney’s Interac Collection API to collect funds from their clients. They then use the [Chimoney Payout API](https://chimoney.io/blogs/the-ultimate-guide-to-simplifying-global-payouts-for-your-business-with-api-solutions/) to facilitate smooth cross-border transfers, ensuring that funds sent from Canada reliably and securely reach their intended recipients in Africa.

### 2. Ease of Integration
[Chimoney](https://chimoney.io/) offers a straightforward API that simplifies the integration process for startups. Instead of juggling multiple payment APIs and dealing with complex compliance requirements, startups can seamlessly incorporate Chimoney’s payout services.

Startups that have adopted the [Chimoney API](https://chimoney.io/developers-api/) consistently praise its well-documented, straightforward integration process. The clear and concise [documentation](https://chimoney.readme.io/reference/introduction) reduces the time and effort needed for implementation, allowing engineering teams to focus on core business functionalities. 

### 3. Multi-Currency Support
With support for multiple currencies including USD, CAD, and NGN, [Chimoney](#) enables startups to handle international payouts effortlessly. This feature is particularly beneficial for startups aiming to expand their reach globally, eliminating the hassle of currency conversion.

Since partnering with [Chimoney](https://chimoney.io/), [Gamepride](https://www.gamepride.io/) has been able to expand across multiple countries allowing them to expand their reach and provide a seamless experience for their customers.

### 4. Real-Time Tracking and Reporting
[Chimoney](https://chimoney.io/) provides a user-friendly admin dashboard for real-time transaction tracking and detailed reporting. This feature helps startups maintain transparency and make informed financial decisions, enhancing their operational efficiency. Startups like Reeple have testified to improved financial decision-making, citing the dashboard’s ability to download detailed transaction statements, which they can share with investors and advisors. Additionally, the real-time tracking feature enables them to update customers on the status of their transactions promptly.

### 5. Scalability
As startups grow, so do their payout needs. [Chimoney](https://chimoney.io/)’s scalable solutions ensure that startups can handle increasing transaction volumes without sacrificing efficiency or security.

[Payfi](https://payfi.ca/), a fintech company specializing in rent guarantee and credit-building services for immigrants and international students, scaled its payout operations by 500% within 2 months of using Chimoney, without experiencing any disruptions.

## The Preferred Choice for Canadian Startups

In conclusion, Chimoney emerges as the optimal solution for Canadian startups seeking to streamline their bulk payout processes. The integration of Chimoney offers a seamless experience, combining ease of integration, real-time tracking, scalability, and exceptional customer support.

## Ready to Get Started?

[Book a meeting](https://chimoney.io/?book_a_demo=1) with us today and join the ranks of startups confidently prioritizing their core business activities with the assurance that their payout processes are in good hands.

___
*KPMG. (2022). Global technology report. https://assets.kpmg.com/content/dam/kpmg/ca/pdf/2022/11/KPMG-2022-global-technology-report-canada-en.pdf

*McKinsey.(2022). Global Payments Report. https://www.mckinsey.com/industries/financial-services/our-insights/the-2022-mckinsey-global-payments-report



Discover why Canadian startups are choosing Chimoney for bulk payouts. Learn about the seamless integration, multi-currency support, enhanced security, cost-effectiveness, and exceptional customer support that make Chimoney the preferred choice for modern businesses.


Why Canadian Startups Are Choosing Chimoney for Bulk Payouts

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

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

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


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

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



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

May 2024 Changelog

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

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

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

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

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

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

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

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

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

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

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

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

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


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

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


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

April 2024 Changelog

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_TL;DR: Chimoney App empowers global communities by offering free, seamless cross-border payments and multi-currency wallets. Partner with us to give your members access to reliable financial tools and exclusive benefits. Join our mission to foster financial inclusion and global connectivity._
____
We recently launched the [**Chimoney App**](https://chimoney.app/download), designed to empower communities by offering seamless, cross-border payment solutions. Our multi-currency wallets allow communities to manage and transfer funds globally without any fees, breaking down financial barriers and fostering economic growth.

## Our Mission
At Chimoney, our mission is to unlock equal economic opportunities for everyone. We aim to achieve this by providing a platform that supports financial inclusion and global connectivity. We believe everyone should have access to reliable financial tools, no matter where they are. Our app makes cross-border payments fast, secure, and free of charge, so community members can focus on building and thriving together.

## ISIC Partnership
We have partnered with [**ISIC (International Student Identity Card)**](https://www.isic.org/) to provide free ISIC memberships to 5,000 students in the US unlocking discounts on flight tickets, hotel accommodations, and more. Chimoney is also now listed on the ISIC discounts page and official members can get free access to the Chimoney App which allows them to make cross-border transactions at no-cost via multi-currency wallets.

These partnership shows our commitment to empowering communities and providing valuable financial services to their members. 

## Partner with Us!
We are looking to expand our network and invite global communities to join us. If you would like your community to benefit from the Chimoney App, we want to hear from you! By partnering with us, you can offer your members access to powerful financial tools and exclusive benefits that enhance their overall experience.

## How to Partner with Us
Partnering with Chimoney is simple.  
- Simply [**fill out this form**](https://docs.google.com/forms/d/e/1FAIpQLSfiH4pj8fwrKQwlREtWRiDxq3XME0qTHcufi0kd_PcRA-UaIQ/viewform)  
- Our team will review your application and get back to you promptly to discuss potential collaboration.

## Why Partner with Chimoney?

- **Empower Your Community:** Provide your members with access to free global transactions, multi-currency wallets (USD, CAD, NDN, and soon EUR), and fast, secure cross-border transactions.
- **Increased Visibility:** Partner communities will be listed on the Chimoney App, expanding their reach and attracting more members to join the community.
- **Access to Exclusive Community Benefits:** Partner communities' members can join other communities listed on Chimoney App such as ISIC to access exclusive benefits offered by other communities, such as discounts on travel and special perks.
- **Global Connectivity:** Enable seamless cross-border transactions that foster international relationships and opportunities.

## Get in Touch

We are excited about the future and the possibilities that come with partnering with communities worldwide. Join us in our mission to create a more inclusive and connected world.

If you have any questions or would like more information, please contact us at [community@chimoney.io](mailto:community@chimoney.io). We look forward to the opportunity to work together and empower your community with the Chimoney App.
___
_**Empower your community today by partnering with Chimoney. Together, we can make a difference!**_

Discover how Chimoney App is empowering global communities by offering seamless, no-cost cross-border payments and multi-currency wallets. Partner with us to provide your members with powerful financial tools and exclusive benefits.



Partner with Us to Empower Your Community with Chimoney App!

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### Introduction

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

### Interac: Canada’s Homegrown Solution

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

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

### Zelle: The American Connection

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

### Cash App: Flexibility in Payments

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

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

### The Power of Instant Confirmation

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

### Use Cases of Interac

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

#### Rent Payments

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

#### Freelance and Gig Worker Payouts

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

#### E-commerce Transactions

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

#### Tuition Fee Payments

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

#### Donations and Fundraising

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

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

### Conclusion

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

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

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

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

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

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

---


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

### What is a Multi-Currency Wallet?

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

### The Need for Multi-Currency Wallets

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

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

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

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

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

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

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

### Why This Matters

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

### Conclusion

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

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

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

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

Exploring the Future of Global Payments with Multi-Currency Wallets

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Ever wished your existing community memberships could do more? Imagine having access to exclusive benefits, discounts, and exciting opportunities – all through the power of your current affiliation!

That's the vision behind Chimoney App; we've built it with the aim of empowering communities and their members.

Today, we're thrilled to announce our partnership with the [International Student Identity Card (ISIC)](https://www.isic.org/)! The first community to be listed on the Chimoney App.  ISIC is a vibrant network spanning over 130 countries, offering incredible benefits to students worldwide.  This collaboration represents a giant leap forward, giving Chimoney App users a unique opportunity to leverage this established network.  

## About ISIC

The International Student Identity Card (ISIC) is globally recognized as proof of student status and offers access to over 150,000 discounts and benefits. These benefits include discounts on transportation, accommodations, entertainment, and more, making ISIC an invaluable resource for students worldwide.

## Chimoney x ISIC Partnership Benefits
Our partnership with ISIC, aims to enhance the global community experience offering amazing benefits for both ISIC  and Non-ISIC members alike.

**For Non-ISIC Members:**

- **Complimentary ISIC Memberships**: The first 5,000 students in the US who redeem a Chimoney Payment will receive complimentary access to ISIC memberships—a $20 value. This unlocks student discounts on flight tickets, hotel accommodation, entertainment, and more, enhancing your student experience like never before.

- **Enhanced Financial Freedom:** Experience financial freedom with Chimoney's multi-currency wallet capabilities in the Chimoney App. 

**For Current ISIC Members:**

- **Exclusive $10 Chimoney App Wallet Credit:** Link your ISIC Card to the Chimoney App and unlock an exclusive $10 Wallet Credit. 

- **Simplified Fund Management:** Managing funds on a global scale has never been easier. With Chimoney, experience the simplicity of handling your finances seamlessly, enabling greater educational and cultural experiences without the hassle.

## How to Access the Benefits
1. [**Download the Chimoney App**](https://chimoney.app/download): Head to your app store and download the Chimoney app to get started.
2. **Create Your Chimoney App Account**: Sign up for a Chimoney account within the app. It's quick and easy!
3. **Link Your Community**: Complete the community membership linking process within the Chimoney App.
4. **Claim Your Free ISIC Membership**: With the Chimoney exclusive voucher code ([watch this video on how to get your voucher code](https://www.youtube.com/watch?v=C9HjQrSbBe8)), sign up for a free ISIC membership on the ISIC platform.
5. **Link Your ISIC Details:** Once you have your ISIC membership, link your ISIC membership details on the Chimoney App to unlock all the partnership-focused benefits and more.
6. **Activate Your Wallet Credit:** Make transactions totaling $100 or more within the Chimoney app. Once this is complete, your $10 wallet credit will be automatically unlocked and ready to use!

## Get Started Today

[**Download the Chimoney app today**](https://chimoney.app/download) and join ISIC to unlock exclusive student benefits, and endless possibilities! Stay tuned for exciting initiatives as Chimoney and ISIC work together to empower students and shape the future of international education.




Discover how Chimoney's partnership with ISIC enhances the student experience, offering exclusive benefits like global money transfers, $10 wallet credit, community connections, and travel discounts. Join today and unlock student perks with Chimoney and ISIC!








Chimoney Partners with ISIC to Expand Global Benefits for Chimoney App Users

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We're excited to announce our community partnership with [OSCA Nairobi](https://twitter.com/osca_nairobi?lang=en) a chapter of [Open Source Community Africa](https://oscafrica.org/)! OSCA Nairobi is a community for open-source lovers, enthusiasts, advocates, and experts within and across Kenya, aiming to increase the rate of credible contributions by Kenyan software developers, designers, writers, and everyone involved in the tech ecosystem to open-source projects locally and globally. 

## Empowering Developers, Promoting Innovation
Both Chimoney and OSCA Nairobi share a strong commitment to empowering developers and strengthening the open-source community.  This collaboration focuses on:

- **Fueling Open-Source FinTech Innovation:** Fostering the creation of transparent and iterative solutions within a collaborative environment.

- **Empowering Developers with Chimoney Tools:** Providing developers with the tools and support they need to learn and build open-source payment solutions leveraging the [Chimoney API](https://chimoney.readme.io/reference/getting-started-with-your-api).

Through a series of upcoming workshops, events, and culminating in an exciting **open-source developer challenge**, Chimoney and OSCA Nairobi will empower developers to come up with and solve real-world challenges in the global payments space.

## Benefits of the Partnership
- **[Exclusive access to the Chimoney App:](https://chimoney.app/download)** OSCA Nairobi members will get exclusive access to the Chimoney App allowing them to send and receive payments globally via multi-currency wallets and join and be part of global communities like [ISIC](https://www.isic.org/) with member benefits.
- **Comprehensive support**:  Through workshops, events, office hours and API documentation guidance we will help developers build open-source solutions with the [Chimoney API](https://chimoney.io/).
- **Rewards and Recognition:** Developers who build outstanding solutions will be rewarded for their contributions and will get a chance to present and get support from Chimoney’s CEO, **Uchi Uchibeke**.

## Impact
Our partnership directly with OSCA Nairobi aligns with our aim of promoting financial inclusion and unlocking equal economic opportunities for all. By getting access to the [Chimoney App](https://chimoney.app/download) which is built for communities, OSCA members get access to: 

- Send and receive money globally.
- Utilize multi-currency wallets for easier international transactions.
- Benefits from global communities like ISIC, including global travel discounts.

Through our combined workshops and developer challenge with OSCA Nairobi we aim to equip developers from diverse backgrounds to solve real-world payment challenges. This inclusive approach not only fuels economic prospects for developers but also leads to solutions that directly address the needs of unbanked communities.  Furthermore, the open-source environment fosters transparency, rapid iteration, and collaboration, leading to more accessible and inclusive financial solutions. 

## Hear from the Organizers
>"We're excited to partner with OSCA Nairobi in our aim to drive innovation within the open-source fintech space. This partnership is an exciting opportunity for developers to learn, grow, and we can’t wait to witness the amazing solutions that will be created" - **Chimoney Team**

>"We're thrilled to collaborate with Chimoney to support developers and contribute to the growth of the open-source fintech ecosystem. This partnership opens up new opportunities for our members to build their skills and be a part of a greater initiative to promote financial inclusion" - **OSCA Nairobi Team**

## Stay Tuned!
Be sure to follow us on our social channels for more exciting updates!
- **Chimoney:** [LinkedIn](https://www.linkedin.com/company/chimoney/) and [Twitter](https://twitter.com/chimoney_io)
- **OSCA Nairobi:** [Twitter](https://twitter.com/osca_nairobi?lang=en) and [Discord](https://bit.ly/osca-dis)


Chimoney teams up with OSCA Nairobi to boost innovation in open-source fintech. We are empowering developers, to build fintech solutions in the payment world. Keep an eye out for more updates on events and projects!








Chimoney Partners with OSCA Nairobi to Promote Open-source Innovation in Global Payments

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The African diaspora plays a vital role in supporting families and communities back home. However, sending money across borders can often be a complex and expensive process. At Chimoney, we're committed to simplifying global payments and fostering financial inclusion. That's why we're thrilled to announce our partnership with **[Reeple](https://www.reeple.ai/)**, a fellow Techstars-backed company building an  affordable remittance solution from US and Canada to Africa!

## Streamlining Remittance from the Diaspora

This partnership combines Chimoney's global payment infrastructure and API with Reeple's user-friendly remittance platform. This fusion empowers the African diaspora to send money home to loved ones in Africa faster, easier, and more affordably than ever before.

## Benefits of the Partnership

- **Effortless Funding:** For Canadian diasporans looking to remit funds to Africa, Reeple's integration with [Chimoney's Interac Collection API](https://chimoney.readme.io/reference/post_v0-2-payment-initiate-1) allows for the easy transfer funds to Reeple for remittance.
- **Swifter Deliveries:** The integration with [Chimoney's Payout API](https://chimoney.io/payouts/) ensures funds reach recipients in Africa quickly and reliably, minimizing waiting times.

## Driving Economic Empowerment

This partnership goes beyond just simplifying remittances. It's about empowering the African diaspora and fostering economic growth on the continent. By making it easier to send money home, we're underscoring our mission of unlocking economic opportunities for everyone and enabling individuals to support their families, invest in their communities, and contribute to the economic growth of Africa.

## Insights
>_"Our partnership with Reeple aligns with our mission to unlock economic opportunities for everyone. We can't wait to conitnue to build and grow together with Reeple."_  **- Uchi Uchibeke, Founder & CEO, Chimoney**

>_"We're excited to join forces with Chimoney to revolutionize remittances for Africans abroad, making it faster, easier, and more affordable."_ **- Tomi Kolawole, CEO & Co-founder, Reeple**


## An Opportunity for Fintech Startups

Together with Reeple, we are building a future where sending money home is faster, easier, and more affordable for everyone!

This collaboration presents an exciting opportunity for ambitious startups focused on building fintech and payment solutions. With Chimoney's global payment infrastructure and API, fintech startups can streamline global payouts and develop global payment solutions that cater to the specific needs of their customers. We're excited about what we will build together and invite you to [Book a demo with us](https://chimoney.io/payouts/?book_a_demo=1).



Discover how Chimoney and Reeple are simplifying diaspora remittances to Africa with their strategic partnership. By integrating Chimoney's global payments infrastructure and API solution Reeple enhances the remittance process, making it more accessible and affordable.

Reeple.ai and Chimoney collaborate to launch innovative Cross-border Payment solution for Immigrants

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## Introduction
At Chimoney, we understand the power of communities. That's why we're excited to introduce the **[Chimoney App](https://chimoney.app/download)** specifically designed to empower communities and their members.

The Chimoney App (**formerly Scrim by Chimoney**) is a powerful tool that allows you to provide your community members with secure and seamless access to global payment services.  This innovative platform goes beyond basic payments, offering a suite of features that foster financial inclusion and growth within your community.

### Here's what makes the Chimoney App perfect for your community:
- **Community-Centric Design:** The Chimoney App is built to provide a seamless and intuitive user experience for communities. Verified members enjoy expedited onboarding and access to exclusive features, fostering a sense of belonging and shared value.
- **Multi-Currency Wallets:** Empower your members to transact globally with ease across multiple currencies. The Chimoney App supports various currencies, including USD, CAD, NGN, and soon, EUR.
- **Fast and Secure Transactions:** Send and receive payments quickly and securely within the Chimoney App across borders. The Chimoney App prioritizes security with a closed-loop system and verified member onboarding.
- **Streamlined KYC Process:** Verified communities benefit from a faster onboarding process for their members, minimizing friction and maximizing convenience.
- **Exclusive Perks and Incentives:** Offer your members unique benefits like vouchers, discounts, and partner deals, strengthening community engagement and loyalty.
- **Dedicated Support:** Our team provides prompt and responsive support to listed communities, ensuring a smooth user experience for your members.
- **Increased Visibility and Credibility:** By associating with the Chimoney brand, your community gains global recognition and access to a network of potential partners, fostering collaboration and growth opportunities.

## Community Partnership with ISIC
We're proud to announce our first community partnership with the [International Student Identity Card (ISIC)](https://www.isic.org/). With this collaboration we offer global payment benefits for both ISIC members and non-members.

- **ISIC members**: Gain access to the Chimoney App's features, allowing them to send and receive payments seamlessly across borders. Plus, they get an exclusive $10 Chimoney wallet credit just for linking their cards!

- **Non-ISIC members**: Stand a chance to be one of the first 5,000 to redeem a Chimoney payment in the US and unlock a free ISIC membership (worth $20)! This grants access to student discounts on flights, hotels, and more. Additionally, the Chimoney App empowers everyone with global transactions and multi-currency transfers for a truly global financial experience.

_Read more about the partnership_ [_here_](https://chimoney.io/blogs/chimoney-partners-with-isic-to-expand-global-benefits-for-chimoney-app-users/)

## Empower Your Community Members by Getting Listed on The Chimoney App
If you're a community lead or manager and you would like to propose your community to be listed on the Chimoney App, here’s how to get started:
1. **Express Your Interest:** Fill out this **[form](https://forms.gle/QtMr6x1N7PCXQTmy8)** to let us know about your community.
2. **Verification Process:** Our team will verify your community through a streamlined verification process to ensure the security and integrity of our platform.
3. **Unlock Benefits:** Once verified, your community members gain access to all the advantages the Chimoney App offers.

Join us in building a future where everyone has access to secure and inclusive financial tools.  Fill in the [Community Suggestion Form](https://forms.gle/QtMr6x1N7PCXQTmy8) and empower your community with a load of global payment benefits!



Introducing the new and improved Chimoney App! Experience simpler global payments, community perks, and enhanced security. Let's make financial opportunities accessible to everyone!








 Introducing the New Chimoney App

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## Simplifying Remittances for Africa

**[Reeple.ai](https://www.reeple.ai/)** is on a mission to simplify remittances for Africans living abroad, addressing the challenges they face in supporting their families and communities back home. With millions of dollars flowing into Sub-Saharan Africa annually, Reeple saw an opportunity to offer a user-friendly platform with transparent pricing and competitive exchange rates, empowering individuals in the diaspora to make a meaningful impact.

## Identifying the Challenge
Africans in the diaspora face significant hurdles when sending money back home. High transaction fees, extended processing times, and a lack of transparency are common frustrations. Despite the substantial remittances reaching Sub-Saharan Africa, valued at $54 billion in 2023 according to World Bank data, many challenges persist for both senders and recipients.

Traditional remittance channels often impose steep transaction fees, averaging around 7.9% for a $200 remittance to Africa – notably higher than the global average of 6.8%. Additionally, the prolonged processing times associated with these methods can result in delays in urgent financial assistance. Recognizing these challenges, Reeple is dedicated to addressing them and is actively working to make remittances quicker, more affordable, and more dependable for its users.

## Reeple’s Solution
Reeple is dedicated to simplifying the remittance process by prioritizing simplicity, affordability, and efficiency. Here’s how Reeple’s innovative solution addresses common challenges:

- **No Transaction Fees:** Users can send payments for the diaspora to African countries effortlessly with no transaction fees. Their loved ones receive the full value they deserve, without any deductions.

- **Real-time Tracking:** Users are able to stay informed every step of the way with Reeple’s real-time transfer tracking feature. 

- **Global Reach:** Users can secure international clients by accepting payments in Canadian Dollars, a currency that offers financial freedom and investment opportunities.

- **Swift Withdrawals:** It allows users to receive their hard-earned Canadian Dollars directly and swiftly and also ensures that withdrawals are processed efficiently.




## Chimoney Implementation and Integration

Reeple enhances its services by utilizing Chimoney's infrastructure, specifically including:

- **[Chimoney’s Interac Collection API](https://chimoney.readme.io/reference/post_v0-2-payment-initiate-1)**: This enables the secure and efficient collection of funds from Canadian users looking to remit. 

- **[Chimoney’s Cross-border Payment Infrastructure and API](https://chimoney.io/payouts/)**: This facilitates smooth cross-border fund transfers, ensuring that funds sent from Canada reach their intended recipients in Africa reliably and securely.


## Insights from Reeple's CEO
> "We understand the challenges faced by Nigerians abroad who want to send money home securely and efficiently. We also see how hard they work to support their loved ones back home, and believe they don’t have to do this at an exorbitant expense" says **Tomi Kolawole, CEO & Co-founder at Reeple**. "Our mission is to provide a transparent and cost-effective solution that empowers them to do just that."

## Empowering Economic Development
Reeple is empowering individuals to support their families and contribute to economic development in their home countries. As Reeple continues to innovate and expand its reach, the future of remittances looks brighter than ever.

Visit **[Reeple's](https://www.reeple.ai/)** website to learn more and start sending money to Africa with confidence, experiencing the convenience and affordability of their remittance platform firsthand.



Discover how Reeple streamlines remittance for Africans abroad with its user-friendly platform, offering transparent pricing and competitive rates. Integrated with Chimoney's API, Reeple ensures swift, secure, and cost-effective money transfers, empowering users to support their families back home. Experience hassle-free remittance today!


Customer Success Story: Reeple.ai's Remittance Solution for Africans Powered by Chimoney

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Launching a new payment product presents numerous challenges, from navigating complex compliance processes to managing multiple API integrations and infrastructure. These problems often result in poor integration experiences and high startup costs. Fortunately, Chimoney's infrastructure and API offer a solution to streamline these processes and expedite your fintech product launch.

## The problem
1. **Complicated Compliance Process:** Starting a fintech  often involves dealing with complicated rules and regulations, especially when looking to expand to more countries which can slow down product launch.

2. **Need for Multiple API Integrations and Infrastructure:** Building a fintech solution may need integration with different payment APIs, a process that can be time-consuming and costly.

3. **Poor Integration and Developer Experience:** Inconsistent documentation, limited functionality and support can make it hard for developers integrating with payment systems, making integration difficult and slowing down progress.

4. **High Startup Cost:** Building and integrating payment systems can require a lot of money upfront, which may be challenging for fintechs with limited resources.

## The Solution - Chimoney’s Payment and Payout API Infrastructure
By integrating with Chimoney's infrastructure and API, fintechs gain access to a suite of services that provide seamless global payment and payout solutions including:
- **[Global Payouts](https://chimoney.io/payouts/)** - Seamlessly handle mass payments to recipients worldwide, with options for various cash-out methods in over 130 countries such as bank, mobile money, Interac, Airtime, or Gift Cards. Focus on your launch, Chimoney handles the global transfers.

- **[Wallets as a Service](https://chimoney.io/wallet-as-a-service/)** - Chimoney's Wallet as a Service (WaaS) supercharges your product launch by getting users up and running fast with built-in multi-currency wallets, frictionless account creation, and KYC/compliance handled. You just need to manage users, personalize experiences, and focus on your core product.

- **[Payment Requests](https://chimoney.io/payment-requests/)** - Generate invoices effortlessly and pay instantly using Chimoney's AI-powered Invoice Data generator and uniquely generated payment links.

- **[Developer API](https://chimoney.io/developers-api/)** - Forget the time-consuming build of fintech products. With Chimoney's API, featuring a well-documented documentation,  integration is seamless. This lets fintechs build solutions faster, reducing development costs and accelerating their launch.

## Benefits of Integrating with Chimoney
- **Improved Payment Efficiency:** Integrating with Chimoney enables fintechs to broaden their payment services across multiple countries, streamline compliance procedures, access AI-powered Invoice Data generator, perform global bulk payments effortlessly via email or phone number, and access a comprehensive global payment and payout infrastructure and API without the hassle of integrating multiple APIs.
- **Dedicated Support and Resources**  - Chimoney offers dedicated support and resources to help fintech startups succeed. From [developer documentation](https://chimoney.readme.io/reference/getting-started-with-your-api) to technical assistance.
- **Enhanced User Experience:** Chimoney prioritizes user experience, ensuring that customers have a seamless and intuitive payment process. 
- **Expedited Time-to-Market:**  For fintech startups aiming for swift and efficient product launches, speed is important. Integrating with Chimoney drastically accelerates this process by offering a unified payment infrastructure and API, minimizing the time required for integrating multiple APIs

### Reeple's Success Story with the Chimoney API
[Reeple.ai](https://www.reeple.ai/), dedicated to simplifying remittances for Africans abroad, swiftly launched its platform by integrating with Chimoney's API. Building upon Chimoney’s API allowed Reeple to establish a seamless funds collection and payout system for Canadian users to send money to Africa effortlessly. With Chimoney handling the funds collection and payments, Reeple focused on enhancing user experience, ensuring a seamless service. This partnership allowed Reeple to enter the market confidently to empower users worldwide.

_Read more about Reeple's success story [here](https://chimoney.io/blogs/customer-success-story-reeple-s-seamless-remittance-solution-for-africans-powered-by-chimoney/)._


## Boost Your Fintech Product Launch with Chimoney's Infrastructure and API Today
By leveraging Chimoney’s infrastructure and API, fintechs can build efficient payment solutions, enhance user experience, and expedite their time-to-market. Integrate with [Chimoney](https://chimoney.io/developers-api/) today and accelerate your fintech product launch!


Discover how integrating with Chimoney's infrastructure, including Global Payouts and Developer API, can streamline your product launch process. Reduce time-to-market, enhance user experience, and gain a competitive edge. Learn from success stories like Reeple and leverage Chimoney's support to propel your business forward. Join Chimoney today and boost your launch!

Accelerate Your Fintech Product Launch with Chimoney's Infrastructure and API

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

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

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

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

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

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

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

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

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

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

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

```
npm install axios
```

Or use `fetch`.

## Creating a New Multi-Currency Wallet

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

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

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

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

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

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

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

## Transferring Funds Between Wallets

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

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

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

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

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

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

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

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

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


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

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