Merchant Wallets are automatically created for registered businesses that have completed Monieswitchâs KYC verification process.
Key Features
Self-Funded
Merchant Wallets are funded directly by the business, giving merchants complete control over their operational finances. Funds can be transferred into the wallet from external business accounts, allowing merchants to manage expenses, payroll, and other financial needs seamlessly.
Flexible Transactions
The Merchant Wallet supports a wide range of transaction types, such as:
- Employee transfers (e.g., payroll distribution)
- Business expense payments (e.g., rent, utilities, supplies)
- Child account funding (e.g., dedicated wallets for teams or departments)
Unlimited Transaction Volume
Unlike Customer Wallets, Merchant Wallets have no tier-based restrictions or transaction limits. This flexibility is ideal for large businesses that require high-volume transactions and unrestricted financial management capabilities.
Getting Started
If youâre new to Monieswitch, start with our quickstart guide to set up your wallet and begin managing your finances effortlessly.
Use Cases
Merchants can use their Merchant Wallet as the primary account for handling day-to-day business expenses, such as paying for office supplies, utilities, or employee salaries. The walletâs self-funded nature and lack of tiered restrictions make it ideal for managing these types of operational costs.
API
Refer to our API Documentation for integration details