Wallet & Collection Basics

How many wallets do we need to set up for our business?

Your business will have one wallet per currency (e.g. one CAD wallet, one NGN wallet, one USD wallet).
Multiple collections from different customers will all update the same business wallet for that currency.

What's the difference between a wallet and a virtual bank account?

A wallet stores your balance for a specific currency on our platform. A virtual bank account is a collection method specifically for NGN that's linked to your NGN wallet. You can create multiple virtual accounts, all tied to the same wallet.

How does the wallet ID parameter work in the Collection API?

The wallet_id represents your business wallet for the specific currency you wish to collect.
This parameter tells our system which of your business wallets should receive the funds.