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Rapyd Bytes: Wallet Transfer Workflow

In this video, you’ll learn how to create a wallet transfer and follow the API workflow to accept and confirm the transfer.

hello and welcome to Rapid bites today we’re going to go over wallet transfer workflow rapid is an API first company and he and Rapid bytes will show you how to work with our API to accept hold and disperse funds anywhere using local payment methods you can comment below or join our Discord or Forum to connect with our rapid developer community so thanks again we’re going over uh the wallet transfer workflow and looking at the rapid API today so wallets can accept hold disperse and transfer funds to one another you can also build issued

cards virtual accounts accept payments into the wallets to fund each wallet that you create you can create wallets for any contact personal or businesses where it can have multiple contacts representing a business entity and so I’m here on the documentation a wallet object and basically API reference page here we have uh just a basic information about wallets as I scroll up and then all the basically important fields and descriptions for those fields for a wallet um I do have a video where I do create a wallet so we’re not going to be

creating a wallet today but we are going to um list wallets and then retrieve the wallet to get the contact information to verify it and so basic our basic flow we will continue to follow um and here we have the Wallet transaction uh reference page and the transaction object as we scroll down will be transferring funds between wallets uh and then also basically uh confirming and accepting that that transfer and a web hook will be sent to us before we make the transfer actually will be verifying the identity of the of

the contact uh something that is not required in sandbox is your testing but of course this is a step needed for kyc uh as you are in production and then here just a little bit more information on Wallets on our use case side you know uh just calling out transferring between wallets um as well as funding ways to fund your wallet so I am going to and here here is uh just some of the workflow here uh a lot of this is high level includes you know customer basic steps and then uh kind of books uh some of the steps all together

but I’m gonna head over to uh Postman in which we’ll be working on and going through this step so uh these steps will also be uh kind of in sections uh in the description below where you can jump to and find each section so what I’m going to do is first list wallets again we’re not going to create any wallet but we have several that we’ve created before and so we can find one wallets with we know that we have enough balance um uh here’s one with a lot a lot of funds in it um here’s another one and so we can be

uh actually that one’s a lot so we can be using that and of course we’re gonna take a look at the not verified status because it’s sandbox they all say not verified and they don’t switch but um definitely very important to you know before you are making doing anything actually in in the wallets you want to verify that wallet so before we make the transfer we’re going to go ahead and verify this so this is just the wallet ID we’re going to need the contact information or contact ID actually and so we’re going to retrieve

wallet by wallet ID I did grab that when I listed out the wallets and now we have basically the whole information list of information for these wallet for this wallet actually and then we have the contact ID here with all of uh John Doe’s information and so now I’m going to go to verify identity we do have we do have a uh hosted uh a page for kyc for identity verification where you can input all this information but we’re just going to do it here and so I’m going to put in the contact here and so here we just have

um you know the basic information uh an image that is a lot very long it’s um generated here as well as our reference specific reference ID for this verification so we’re going to go ahead and set actually I do need to match the wallet with that so I’m going to grab the wallet ID here and you can learn more about these fields again under the identity verification object go ahead and send that and it’s success uh success um here is the uh kyc ID or identity verification ID the tokens as we call them as well as

the reference ID for this specific um uh request but here is the also the tokenized ID for this so both can link back to that and so we are going to now as it would be you know this is a simulation to it being verified I am going to transfer the wallet so go to rant wallet transfer um so what I want to do now is grab this wallet ID um as the source wallet and so we could do you know anything under how much it’s fun so as 775 Euros we can do this um we can do you know up to that amount um

so I’m gonna go ahead and send that and that looks like a success it’s pending um let me grab um this ID here and so what we are now going to do is set transfer response except back oh it looks like there we go oh wait I’m gonna back up looks like I copied a little bit more grab that and then I’ll paste it in and it looks like a success and so now the status has closed the amount let me where’s the destination e-wallet let me see if I could retrieve this one

and now it has uh 275 probably had obviously 25 dollars in it um for a total balance before so uh let’s see if we have a web hook and we do we have a couple web hooks so this is transfer between wallets created uh and then transfer between wallet’s response now it is accepted now let’s do another one and um let’s see if we could do no 2500 and this is the wallet transfer and so actually so here it says not enough funds and you can’t do that um so that would be uh letting you know of course we saw

that there was 775 and then we did 250 now there’s um you know uh 5 25 and it’s not um not enough funds to transfer 2500 so let’s just do 25 and then send that over and so again that’s that completed it’s or uh it was a success and it is pending and let me grab this uh let me go over to um set transfer response decline and so the this is now declined we see that was created and then declined um and then there’s also cancel and so let’s try just one more and let me grab this ID

so we created that and now this here is a cancel so let me head over to the web hooks we have this created um the newest one again it was 25 the same amount and then canceled Again by the sender and so yeah that’s uh basic uh flow for uh wallet to wallet transfer we didn’t do cradle wallet which I will link the other video but uh listed the wallets um to grab the wallet ID the wallet token and then we verified the wallet again in sandbox you won’t do this flow but a needed process for kyc and then started the wallet transfer and then set

the response so we did one where it was accepted one basically declined by the receiver another canceled by the sender um so if you have any questions you can comment below or again through the link join our Discord uh join our rapid developer Forum post any question that you have and we’ll be able to follow up with you thanks again for watching have a great day