FAQs
Question: I want to create a new merchant, How do I get a merchant_id to use in my request-payload?
Answer : You can only create a sub-merchant and not merchant. Meanwhile to create a sub-merchant you have to be a registered merchant on our platform. Click here to join us as a merchant.
Question: I checked the wallet documentation and I have created one, but how do I check if it's created or not? because I have no payment gateway dashboard to check if my wallet is created
Answer: When you created the wallet, did you get a successful response? It is how to know the wallet has been created. The response comes with the account details for the wallet.
Question: How to get this parameter "payment_gateway_code" in Wallet Debit API ?
Answer: For you to get the payment gateway code attached to your merchant, read this documentation https://www.ogaranya.com/documentation/v1/transactions#payment-gateways.
Question: How can I make a wallet to wallet transfer?
Answer: When a wallet is charged successfully, we credit the amount to the wallet of the merchant who made the API request. So you don't need to move money from one wallet to another wallet.
Question: What is the difference between Virtual Account and Wallet?
Answer: Wallet and Virtual Account are different in functionalities and regulatory requirements.
While Virtual Account is just a passthrough (i.e. not storing values), NUBAN number is used for collections such that funds coming into Virtual Accounts are warehoused in the float (collection) account of the partner, a wallet is a store of value in the sense that funds sent to wallets are warehoused in the user's wallet. A wallet stores value and fund depletion is based on the usage by the customer.
In terms of regulatory requirements, wallet requires more KYC details before it can be created because it functions like a regular bank account and it is tiered into 3 KYC levels (tier 1, tier 2 and tier 3). The higher the tier, the more the KYC requirements and the account limits.
CBN regulations stipulate that only Banks and MMOs can keep customers ' deposits and by so doing, any Fintech who is developing solutions where values for each customer is expected to be kept is expected to use the wallet service for regulatory compliance.