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Rapyd Bytes: Create a Wallet

In this episode, you’ll learn how to create a personal or company wallet and see them created in the Rapyd client portal.

hey everyone welcome back to another episode of Rapid bites today Kyle is going to step us through how to uh create a wallet using the rapid API so I’m just gonna first set things off by talking a little bit about our community if you haven’t enjoyed it yet please go over to community.rapid.

net join the conversation uh you can find questions about our apis you can ask questions start a discussion about fintech it’s a really cool place to get engaged in fintech conversation and all the rest of things Kyle’s going to talk about today in his uh in his short uh video here so that said I’m gonna turn it over to you Kyle thanks Drew uh today we’re going to create a wallet both the personal wallet uh with a personal user and a company wallet um with a business user so let’s get to it um uh so I’m here on our reference guide
documentation which notes three different wallets that are within rapid uh I’ve stated already um a personal wallet a company wallet uh which both has user um wallet contacts but then also a client wallet and your client wallet is basically the uh Storehouse of your account and all that where it happens um to be all of your um reports are are derived from the reconciliation and settlement happen in your client wallet and so as a client account user you will have a rapid wallet that you’ll hold um and you can fund with multiple bank
accounts and so I will be walking through us through API call and Postman but before that I want to go over to the rapid wall overview on the guide side and this just this diagram depicts that client wallet which we won’t be obviously focusing on today that’s where basically all of the controls come from in in client portal um so just an explanation of of the client wallet uh here you have a lot of the rapid collect apis and which we uh looked at in the last video as far as payment method uh and then that goes into your all of those
funds go into your rapid Wallet account and so that would be specifically your client wallet and then that funds uh rapid disperse where you are paying um to other wallets and then goes to Rapid issuing which way you can issue a virtual cards on your rapid Wallet account and then here are some some of the use cases for a rapid wallet but let me get to uh our API call and so I’ll be working out of Postman and I’m going to search wallet and first we’re going to create a personal wallet here um here we have the request body the
payload and I just uh a few explanations of some of these values which can all be found if you go to the reference guide uh wrap it wallet overview and then go to wallet object uh and then these are basically all the fields of of um what you’ll be inputting and as well as wallet contact object here um and so I will go to back to postman and here we have the contact of of the wall so this is the personal user typically in our examples we have John Doe um and then the wallet reference ID so this would be the unique ID here we as
an example we just have a date so I can put a date and one thing to point out like Kyle’s doing this real quick while so I’m just going to jump in is we have another video on uh create your first API call so it’s going to show you a little bit more detail about how to set up uh Postman and use the collection there so I just wanted to throw that out there while you were typing yeah thanks Drew that’s a really good point yeah I’m using the the collection for Postman right now and has all these
examples already and so right here I want to point out the type this is will be the difference between personal wallet or a company wallet and so as we can see right here it says person and then uh continuing the contact information of the wallet owner and or user and then going down here uh country and and more identification information and so yeah here is the API call I’ll click Send and there we go we have our response uh what I want to point out is here the wallet ID this is what you’ll use um you know going forward creating a
wallet or or funding the wallet transferring funds between that wallet this will be important to use uh as well and then this is here the ID of the contact of the John Doe contact overseeing or controlling this wallet and let me create a company wallet and so here is uh the same endpoint uh but this is a company that we’re creating here’s the the reference ID so I’ll create something unique and then the type company this is noting the type of wallet and the difference between a personal wallet and a company
wallet is actually a company wallet can have multiple users or multiple owners of that wallet personal wallet can only have one nice I was just about to ask you that yeah um and then so here the contact would be Mary Chen um and then her personal information so I’ll go and click Send and here we go uh again we have a successful response here is the uh the e-wallet ID as well as the one contact for Mary 10.
I’m going to go to the client portal here I can click refresh and here we have our wallets um they are not funded yet but here if I click on here it says John Doe basically the the e-wallet ID and then here Henry company uh and then we click uh details basically like go over to contact Mary Chen there she is the on the contact of the company wallet um and so there we go um here I’m in client portal again I show we show you a little bit around in client portal in one of the other videos and about further videos uh
here we have just the controls within the wallet section in client portal which you’ll be able to navigate or or do API calls for these so um yeah we’re gonna we’re gonna show you uh more content um how to create a customer and and transfer funds on wallets and and so more to come nice thanks Kyle it’s really good appreciate the short intro into creating a wallet thanks Drew so guys just to wrap things up uh be remiss without talking a little bit more about our community the docs um you know Kyle referenced the docs
today we’ve got use cases our guides we have you know the API reference in our community uh again join our community engage in the conversation ask questions answer questions um and then if you wanted to reach out to Kyle and I uh we’re hanging out on rapid payments which is our Twitter handle if you do hashtag rapidbytes which is this series of videos uh we’ll be happy to engage with you and answer any questions you have so that said it’s great video Kyle appreciate the intro to
create a wallet and I look forward to the next one with you awesomeave a great day