diff --git a/editions/01-chimoney/.github/PULL_REQUEST_TEMPLATE.md b/editions/01-chimoney/.github/PULL_REQUEST_TEMPLATE.md index 8587bc3..6930642 100644 --- a/editions/01-chimoney/.github/PULL_REQUEST_TEMPLATE.md +++ b/editions/01-chimoney/.github/PULL_REQUEST_TEMPLATE.md @@ -5,31 +5,26 @@ Please fill in the details below to help us track and review your submission. --- -**Full Name:** - - ---- +**Full Name:** Emmanuel Onyeka Eboh ### 👥 Community Handles -**Discord Handle (Chimoney):** - +**Discord Handle (Chimoney):** @eo_eboh -**Slack Handle (WriteTech Hub):** - +Cryptocurrency transfers +**Slack Handle (WriteTech Hub):** @Cap-EO --- ### ✅ Deliverables Checklist -**Chosen Endpoint:** - +**Chosen Endpoint:** [Multi-currency wallet transfer](https://api.chimoney.io/v0.2.4/api-docs/#/Interledger/post_v0_2_4_multicurrency_wallets_transfer) Please confirm that you’ve included all required deliverables in your submission folder: -- [ ] `use-case.md` -- [ ] `tutorial.md` -- [ ] `setup.md` +- [x] `use-case.md` +- [x] `tutorial.md` +- [x] `setup.md` --- @@ -40,10 +35,4 @@ Add the following reviewers to your: --- -### 🗒️ Notes (Optional) - -If you had challenges, feedback, or anything you'd like the reviewer to know, add it here. - - - 🔗 **Don’t forget:** After opening this PR, complete the [submission form](#) to officially log your entry. diff --git a/editions/01-chimoney/guidelines/how-to-explore-and-understand-an-api.md b/editions/01-chimoney/guidelines/how-to-explore-and-understand-an-api.md index 7216b4a..938eec3 100644 --- a/editions/01-chimoney/guidelines/how-to-explore-and-understand-an-api.md +++ b/editions/01-chimoney/guidelines/how-to-explore-and-understand-an-api.md @@ -35,12 +35,13 @@ Use tools like: - Terminal with `curl` ### When testing: -| Step | What to Check | -|------|---------------| -| Authentication | Do you need to pass a token or key? | -| Parameters | Are they required or optional? What formats work? | -| Responses | What does a success response look like? What about errors? | -| Edge Cases | What happens if you pass a wrong or missing parameter? | + +| Step | What to Check | +| -------------- | ---------------------------------------------------------- | +| Authentication | Do you need to pass a token or key? | +| Parameters | Are they required or optional? What formats work? | +| Responses | What does a success response look like? What about errors? | +| Edge Cases | What happens if you pass a wrong or missing parameter? | **Tip:** Save your test results. You’ll reuse these in your tutorial or setup guide. @@ -68,9 +69,9 @@ Once you're familiar with the API: ## Quick checklist -- [ ] I understand what this API endpoint does and who needs it -- [ ] I have reviewed its required inputs and outputs -- [ ] I’ve successfully tested the endpoint using sample data -- [ ] I’ve documented the authentication, setup, and error behavior +- [x] I understand what this API endpoint does and who needs it +- [x] I have reviewed its required inputs and outputs +- [x] I’ve successfully tested the endpoint using sample data +- [x] I’ve documented the authentication, setup, and error behavior If you can check all the above, you're ready to start writing! diff --git a/editions/01-chimoney/submissions/multicurrency-cap-eo/images/authorization.gif b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/authorization.gif new file mode 100644 index 0000000..a6138d5 Binary files /dev/null and b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/authorization.gif differ diff --git a/editions/01-chimoney/submissions/multicurrency-cap-eo/images/configure.png b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/configure.png new file mode 100644 index 0000000..e3e624a Binary files /dev/null and b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/configure.png differ diff --git a/editions/01-chimoney/submissions/multicurrency-cap-eo/images/copyapi.png b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/copyapi.png new file mode 100644 index 0000000..195da21 Binary files /dev/null and b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/copyapi.png differ diff --git a/editions/01-chimoney/submissions/multicurrency-cap-eo/images/create.gif b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/create.gif new file mode 100644 index 0000000..960c75c Binary files /dev/null and b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/create.gif differ diff --git a/editions/01-chimoney/submissions/multicurrency-cap-eo/images/options.png b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/options.png new file mode 100644 index 0000000..c6fef5c Binary files /dev/null and b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/options.png differ diff --git a/editions/01-chimoney/submissions/multicurrency-cap-eo/images/run_postman.png b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/run_postman.png new file mode 100644 index 0000000..bc77c8c Binary files /dev/null and b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/run_postman.png differ diff --git a/editions/01-chimoney/submissions/multicurrency-cap-eo/images/transfer.gif b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/transfer.gif new file mode 100644 index 0000000..9da355c Binary files /dev/null and b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/transfer.gif differ diff --git a/editions/01-chimoney/submissions/multicurrency-cap-eo/images/workflow.png b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/workflow.png new file mode 100644 index 0000000..8057763 Binary files /dev/null and b/editions/01-chimoney/submissions/multicurrency-cap-eo/images/workflow.png differ diff --git a/editions/01-chimoney/submissions/multicurrency-cap-eo/setup.md b/editions/01-chimoney/submissions/multicurrency-cap-eo/setup.md new file mode 100644 index 0000000..ae49496 --- /dev/null +++ b/editions/01-chimoney/submissions/multicurrency-cap-eo/setup.md @@ -0,0 +1,217 @@ +# How to Make a Multi-Currency Wallet Transfer with Chimoney + +This guide walks you through how to set up your environment to make a multi-currency transfer using the Chimoney API. + +By the end of this guide, you will be able to: + +- Retrieve your Chimoney API key +- Set up your Postman or cURL environment +- Create a multi-currency wallet +- Make authenticated test transfer requests to the `/multicurrency-wallets/transfer` endpoint + +## Prerequisites + +To follow this guide, you will need the following: + +- A Chimoney Developer Sandbox account ([Sign up here](https://chimoney.readme.io/reference/sandbox-environment) if you do not have one) +- Access to your Chimoney **API Key** (available in the Developer Dashboard) +- A stable internet connection + + + +## Set Up Environment + +In this section, you will prepare your environment to make authenticated API requests to the Chimoney API. + +You can choose to proceed using either: + +- [Postman](https://www.postman.com/) (recommended) or +- **cURL** (for developers comfortable with the command line) + +### Postman Setup + +The Chimoney API offers a Postman collection where you can test every public endpoint on the API. Ensure you have a Postman account before you proceed with the setup. + +1. Go to the [Chimoney Postman Collection](https://documenter.getpostman.com/view/26097715/2sA3kXCzD2) page and click on the “Run in Postman” button + +![Run_Postman.png](./images/run_postman.png) + +This will open the collection in your Postman account, where you will have local access to all the endpoints in the API collection. + +1. In the “Environments” tab, create a test environment and configure the base URL shown below as a global variable named `{{base_url}}`. You can name it whatever you like. + +```bash +# base URL +https://api-v2-sandbox.chimoney.io/v0.2 +``` + +![configure.png](./images/configure.png) + +1. At the top folder level, navigate to the “Authorization” tab and set your API key. Use `X-API-Key` as the key and your actual API key as the value: + +![authorization.gif](./images/authorization.gif) + +Great! You have successfully set up your Postman environment with authentication and base URL at the global level for easy access. + +### cURL Setup (Optional) + +If you prefer the command line, you can test with cURL. The command below will create a multi-currency wallet. Copy and paste into your terminal: + +```bash +curl -X POST https://api-v2-sandbox.chimoney.io/v0.2/multicurrency-wallets/create \ + -H "X-API-KEY: your-api-key-here" \ + -H "Content-Type: application/json" \ + -d '{ + "name": "John Doe", + "email": "john.doe@mail.com", + "firstName": "John", + "lastName": "Doe", + "phoneNumber": "+16471234567" + }' +``` + + + +## Create A Test Wallet + +To make a multi-currency transfer, we need to create a test wallet to which we can send test funds. + +Open the “MultiCurrency Wallet” folder in the left sidebar and navigate to the `Create New MultiCurrency Wallet` endpoint and in the “Body” tab, fill in the following request fields similar to the one in the cURL command above. + +```json +{ + "name": "John Doe", + "email": "john.doe@mail.com", + "firstName": "John", + "lastName": "Doe", + "phoneNumber": "+16471234567", + "meta": {} +} +``` + +After you have created the test wallet, copy the wallet ID `{ id: ' ', }` from your response, and proceed to make a test transfer in the next step. + +## Make A Test Transfer + +### Using Postman + +In the “MultiCurrency Wallet” folder, navigate to the `Transfer from multicurrency wallet to another wallet, an email or a phone number` endpoint. In the “Body” tab, make sure the request data looks like this: + +```json +{ + "amountToSend": "10", + "originCurrency": "USD", + "receiver": "edd499f4-bde8-4852-8d3c-047c30004eeb", + "email": "john.doe@mail.com", + "phoneNumber": "+23455854303", + "destinationCurrency": "USD", + "narration": "P2P Payment" +} +``` + +The `receiver` key represents the receiver’s wallet ID from the previous step. + + + +Even if you omit the wallet ID, you can still make a transfer using just `email` or `phoneNumber` as a user’s unique identifier. Feel free to play around with the values during your testing. + +### Using cURL + +The cURL version should look like the example below: + +```bash +curl -X POST https://api-v2-sandbox.chimoney.io/v0.2/multicurrency-wallets/transfer \ + -H "X-API-KEY: your-api-key-here" \ + -H "Content-Type: application/json" \ + -d '{ + "amountToSend": "10", + "originCurrency": "USD", + "receiver": "edd499f4-bde8-4852-8d3c-047c30004eeb", + "email": "john.doe@mail.com", + "phoneNumber": "+23455854303", + "destinationCurrency": "USD", + "narration": "P2P Payment" + }' +``` + + + +### Expected Transfer Response + +Make a request to the endpoint, and if all goes well, you should see a response that looks like this: + +```json +{ + "status": "success", + "data": { + "paymentLink": "https://sandbox.chimoney.io/pay/?issueID=SqEYHip3Zwca0DCrC5OyP389i3q1_10_1753750268446", + "data": [ + { + "id": "bUXgB3VM1hvAie2xC4Ed", + "email": "john.doe@mail.com", + "valueInUSD": "10", + "wallet": true, + "narration": "P2P Payment", + "type": "multicurrency-transfer", + "chimoney": 10000, + "issuer": "SqEYHip3Zwca0DCrC5OyP389i3q1", + "issueID": "SqEYHip3Zwca0DCrC5OyP389i3q1_10_1753750268446", + //....... + "redeemLink": "https://sandbox.chimoney.io/redeem/?chi=59d65b75-4aca-45b6-919b-b5c19a41e208" + } + ], + "chimoneys": [], + "error": "None", + "payouts": { + "issueID": "SqEYHip3Zwca0DCrC5OyP389i3q1_10_1753750268446" + } + } +} +``` + +Congrats! You have successfully completed a multi-currency USD-to-USD transfer to a user’s wallet. + + + +## Error Troubleshooting + +Here are some common errors developers might face when testing, their possible causes and how to fix them: + +| Error | Cause | Fix | +| --------------------------- | ---------------------------------- | --------------------------------------------------------------- | +| `401 Unauthorized` | Missing or invalid API key | Double-check that `X-API-KEY` is correct and present in headers | +| `400 Bad Request` | Incorrect or incomplete body | Ensure all required fields are included and valid | +| `403 Forbidden` | Insufficient permissions | Confirm you're not using a test key in a production environment | +| `404 Not Found` | Wrong endpoint or typo in URL | Recheck the API endpoint path and method | +| `500 Internal Server Error` | Server-side issue or invalid input | Try again later or thoroughly check the input format | + +## Recommended Next Steps + +- Check out Chimoney’s full [API reference](https://api.chimoney.io/v0.2.4/api-docs/) +- Explore the Chimoney [official documentation](https://chimoney.readme.io/reference/introduction) +- Dive into a real-world scenario in the [Use Case article](https://chimoney.io/usecases/Build-a-P2P-Payment-Platform/) diff --git a/editions/01-chimoney/submissions/multicurrency-cap-eo/tutorial.md b/editions/01-chimoney/submissions/multicurrency-cap-eo/tutorial.md new file mode 100644 index 0000000..27ddaab --- /dev/null +++ b/editions/01-chimoney/submissions/multicurrency-cap-eo/tutorial.md @@ -0,0 +1,319 @@ +# Build a Global Payout Flow: Multi-Currency Wallet Tutorial using Chimoney + +There’s no doubt that global payments have evolved over the years. Several payment innovations and services have emerged as vehicles for transferring money globally. Every freelancer, remote worker or online service in today’s economy needs a way to send and receive payment from almost anywhere in the world - and in different currencies as well. + +In this tutorial, we will build and deploy a global payout flow using the Chimoney `multi-currency wallet transfer` API. By the end of this tutorial, you can perfectly simulate transfers between wallets using different currencies. + +## Prerequisites + +The scope of this tutorial is wide enough to accommodate all skill levels; however, it requires some basic proficiency in the following technologies: + +- JavaScript/TypeScript +- Next.js (App Router) +- Node and NPM installed on your system + +Additionally, you will need a Chimoney sandbox account and an API key. Follow the steps in [this page](https://chimoney.readme.io/reference/sandbox-environment) to set them up. + +## Get Your Chimoney API Key + +This tutorial will be based on the Chimoney Sandbox environment, which allows developers like you and me to create an account and obtain an API key for testing purposes. + +Follow the instructions [on the Chimoney docs](https://chimoney.readme.io/reference/sandbox-environment) to set up your Sandbox environment and obtain your API key. After following the steps from the link, you should see something like the image below: + +![CopyAPI.png](./images/copyapi.png) + +## Set Up Next.js Environment + +We will be using Next.js, the popular React framework, for this tutorial. A Next.js boilerplate code is already set up for you; it contains all the basic setup you will need for this tutorial. Head over to the [repository on GitHub](https://github.com/EOEboh/chimoney-p2p-demo) and do the following: + +- fork the repo to create your version +- then clone the repo to your local machine. + +Once the boilerplate is cloned, run the following command to install all the necessary dependencies: + +```bash +npm install +``` + +## Add Your API Key as an Environment Variable + +Remember the API key you obtained during the creation of your Sandbox account at the beginning? We will set it up as an environment variable as a secure way to reference it. + +At the root (topmost) directory of your Next.js app, create a file called `.env.local`, then copy and paste the following code inside the file: + +```bash +#.env.local +CHIMONEY_API_KEY=your_api_key_here +CHIMONEY_API_URL=https://api-v2-sandbox.chimoney.io/v0.2 +``` + + + +Run the command below in your editor terminal to start your Next.js localhost server: + +```bash +npm run dev +``` + +## Set Up API Route Handlers + +According to the Next.js App router convention, we will set up route handlers to process any request to the API (as well as responses back from the API). + +For the scope of this tutorial, we will set up two route handlers to handle two operations: + +1. Create a multi-currency wallet (this is the wallet we will transfer to) +2. Make a multi-currency wallet transfer (to the wallet we created in step 1) + +### Create Wallet Route + +Inside your `app/api/wallet/create` folder, navigate into the `route.ts` file and paste the code block below: + +```tsx +// src/app/api/wallet/create/route.ts + +import { NextRequest, NextResponse } from "next/server"; +export async function POST(req: NextRequest) { + const body = await req.json(); + try { + const response = await fetch( + `${process.env.CHIMONEY_API_URL}/multicurrency-wallets/create`, + { + method: "POST", + headers: { + "Content-Type": "application/json", + "X-API-KEY": process.env.CHIMONEY_API_KEY || "", + }, + body: JSON.stringify(body), + } + ); + const data = await response.json(); + if (!response.ok) { + return NextResponse.json( + { error: data.error || "Failed to create wallet" }, + { status: 400 } + ); + } + return NextResponse.json(data); + } catch (err) { + return NextResponse.json({ error: "Server error" }, { status: 500 }); + } +} +``` + +What exactly is happening here? The code block above is a _route handler,_ and it is used to define the endpoint and handle our API logic directly within the Next.js app router. This file runs on the server, and your sensitive secrets, like the API key or base URL, cannot be exposed to the client. + +We want to create a multi-currency wallet. This will be the wallet we will transfer test funds to, to simulate a real-time global payout. + +This particular route handler will receive input values from the form (which we will set up in the next segment) and make a `POST` request to the `multicurrency-wallets/create` endpoint. Keep in mind, we are passing the API key as a credential to authenticate our request and receive a successful response. We are also handling any errors that may arise during the request-response cycle. + +### Multicurrency Transfer Route + +Before we proceed to creating the forms, we still have one more route handler to set up - the multi-currency transfer handler. + +Navigate to the `app/api/wallet/transfer` folder, and inside the `route.ts` file, paste the following code: + +```tsx +// src/app/api/wallet/transfer/route.ts + +import { NextRequest, NextResponse } from "next/server"; +export async function POST(req: NextRequest) { + const body = await req.json(); + try { + const response = await fetch( + `${process.env.CHIMONEY_API_URL}/multicurrency-wallets/transfer`, + { + method: "POST", + headers: { + "Content-Type": "application/json", + "X-API-KEY": process.env.CHIMONEY_API_KEY || "", + }, + body: JSON.stringify(body), + } + ); + const data = await response.json(); + if (!response.ok) { + return NextResponse.json( + { error: data.error || "Transfer failed" }, + { status: 400 } + ); + } + return NextResponse.json(data); + } catch (err) { + return NextResponse.json({ error: "Server error" }, { status: 500 }); + } +} +``` + +Similar to the previous file, this route handler will process a multi-currency wallet transfer using the `multicurrency-wallets/transfer` endpoint via an HTTP `POST` request. + +## Create A Multi-Currency Wallet + +The first step of the process of building a global payout flow is to create a multi-currency wallet where we will send funds (not real funds). Each wallet also doubles as a user’s account because it can be uniquely identified by a wallet ID and is also tied to an individual. An email or phone number identifies this individual. + +Head over to the `src/app/create-wallet` page, and you will find a form boilerplate already set up for you. This is to help us focus strictly on the API logic. + +Let’s modify the `handleSubmit` function to handle the request and response logic: + +```tsx +// src/app/create-wallet/page.tsx + +const handleSubmit = async (e: React.FormEvent) => { + e.preventDefault(); + const res = await fetch("/api/wallet/create", { + method: "POST", + body: JSON.stringify({ ...form, meta: {} }), + }); + const data = await res.json(); + setResponse(data); + console.log("Response:", data); + if (data?.data?.id) { + setWalletId(data.data.id); + } +}; +``` + +Let’s break down what is happening step-by-step: + +1. The function makes a `POST` request to the `/api/wallet/create` route handler we created earlier. +2. We await the response from the API and parse it to `JSON` format +3. Save the response data using the `setResponse` state +4. Save the wallet ID using the `setWallet` state, we will need the ID to transfer funds to the wallet in the next step. + +Great work so far! We have now successfully set up our multi-currency wallet creation logic. + +Now let’s go over to the UI and test what we have done. Ensure you start your Next.js development server by running the following command: + +```bash +npm run dev +``` + +In your [localhost:3000/create-wallet](http://localhost:3000/create-wallet) page, fill out the form details and click the “Create” button as demonstrated below: + +![Create.gif](./images/create.gif) + +Behind the scenes, we are sending the form values as body parameters to the API in this format: + +```json +{ + "name": "John Doe", + "firstName": "John", + "lastName": "Doe", + "email": "john.doe@mail.com", + "phoneNumber": "+234101000100", + "meta": {} +} +``` + +The response from the API should look something like the JSON format below: + +```json +{ + "status": "success", + "data": { + "id": "edd499f4-bde8-4852-8d3c-047c30004eeb", + "name": "John Doe", + "email": "john.doe@mail.com", + "phoneNumber": "+234101000100", + "meta": { + "email": "john.doe@mail.com" + }, + ........ + } +} +``` + +Let’s explain a few parameters: + +- `status`: Tells you the wallet creation was successful +- `data`: Contains the created wallet's information +- `id`: This is the unique wallet ID + +Congratulations, you have just successfully created a multi-currency wallet. Next steps will be to make a multi-currency transfer. + +## Make A Multi-Currency Transfer + +Navigate to the `src/app/transfer` page, and similar to the last step, you will also find a form boilerplate already set up. Once again, the `handleSubmit` function is our focus. + +Remember, we saved the wallet ID from our previous operation using React Context state. Therefore, we will extract that wallet ID from the Context and fill it as our receiver. We are making a multi-currency transfer to the wallet we created earlier. + +Paste the following code: + +```tsx +// src/app/transfer/page.tsx + +const handleSubmit = async (e: React.FormEvent) => { + e.preventDefault(); + const res = await fetch("/api/wallet/transfer", { + method: "POST", + body: JSON.stringify({ ...form, receiver: walletId }), + }); + const data = await res.json(); + setResponse(data); +}; +``` + +Before we make the request, let’s break down what we are sending to the endpoint in JSON: + +```json +{ + "amountToSend": "", + "originCurrency": "USD", + "destinationCurrency": "USD", + "narration": "P2P Payment", + "email": "", + "phoneNumber": "" +} +``` + +Go back to the [localhost:3000/transfer](http://localhost:3000/transfer) page on your browser and make a multi-currency transfer using the form: + +![Transfer.gif](./images/transfer.gif) + + + +## Verify Transfer + +You can verify this transaction using the [`payment verify`](https://api.chimoney.io/v0.2.4/api-docs/#/Payments/post_v0_2_4_payment_verify) endpoint. This would require the transaction ID `{ issueID:'', }` from the response of your last step. + +Verifying your transaction should produce a response like the one below. The response tells us our last transfer was successful, and the wallet is credited with $10. + +```json +{ + "status": "success", + "data": { + "id": "qaqSGhRIB9q7nvg1xSu4", + "receiver": "edd499f4-bde8-4852-8d3c-047c30004eeb", + "valueInUSD": "10", + "wallet": true, + "narration": "P2P Payment", + "type": "multicurrency-transfer", + "redeemData": { + "receiver": "edd499f4-bde8-4852-8d3c-047c30004eeb", + "valueInUSD": "10", + "wallet": true, + ............. + } + } +} + +``` + +Congratulations! You just sent a successful payout to a wallet. + +More features, like creating a subaccount and currency conversions, are available on the [Chimoney API](https://api.chimoney.io/v0.2.4/api-docs/). + +## Conclusion + +In this tutorial, we walked through how to use the Chimoney API to build a global payout system with support for multi-currency wallet transfers. To explore more features, such as additional transfer options, wallet management, and advanced integrations, be sure to visit the official [Chimoney API documentation](https://chimoney.readme.io/reference/post_v0-2-4-multicurrency-wallets-transfer). + +Happy building! diff --git a/editions/01-chimoney/submissions/multicurrency-cap-eo/use-case.md b/editions/01-chimoney/submissions/multicurrency-cap-eo/use-case.md new file mode 100644 index 0000000..f5b0498 --- /dev/null +++ b/editions/01-chimoney/submissions/multicurrency-cap-eo/use-case.md @@ -0,0 +1,73 @@ +# Chimoney Multi-Currency Wallet Transfers: A Practical Solution for International Payouts + +## Meet Amara - A Global Freelancer + +Imagine a scenario where Amara, a designer, runs a remote freelance business and works regularly with clients from the US, Europe and maybe Canada. After each delivery, her foreign clients pay her in USD; ultimately, she and her team of designers based in Lagos will need to be paid in the local NGN currency. However, there are a number of issues that Amara traditionally has to deal with - the bank delays, the manual effort of juggling currency conversions, the ever-changing rates and even high charge fees. + +Amara has faced several pain points that traditionally come with international money transfers. Most traditional banks have slow processing times and charge high fees, many platforms do not support multi-currency payouts, and currency conversions can be tricky to navigate, amongst other issues. + +## The Problem with Traditional Methods + +The traditional methods of receiving global payments not only come with the problem of high transfer fees but also other issues, such as complex user onboarding, limited control and poor currency conversion rates. Many of these methods even require automatic conversion to the local currency, which can likely result in the user losing some of their monetary value. + +While more traditional services like Wise, Payoneer and PayPal may cater mainly to businesses and freelancers, Chimoney’s multi-currency wallet transfer feature (which we will introduce next) offers a flexible wallet-based infrastructure that supports both peer-to-peer and en masse payouts. A modern and competitive solution to most payout issues. With this feature, users can hold or spend the money they receive in their local currency or another preferred currency of choice or even both. This eliminates forced conversions, which could make the user lose money due to unfavourable exchange rates at the time. + +## A Smarter Way to Move Money: Chimoney’s Multi-Currency Transfer + +Now, imagine a different scenario where Amara’s payment process is completely streamlined. Her foreign clients pay her in USD (or any other supported currency). She receives the funds into a digital wallet, converts them to any currency of her choice, and also pays her team members in NGN - all in one place! This is what Chimoney’s multi-currency wallet transfer feature provides. + +What makes this feature more impressive is that users and businesses like Amara’s can receive and send money in various currencies without even needing multiple bank accounts or juggling exchange platforms. + +What’s even better? Amara can send payouts directly to her team members even if they do not have a Chimoney account. Chimoney generates a secure payment link that allows the recipient to redeem their money in the currency they prefer and through a variety of options, such as: + +- **Bank transfers** to local bank accounts (in supported countries) +- **Mobile Money** (MoMo) services in over 10 countries +- **Airtime top-up** directly to mobile numbers +- **Gift cards** from numerous retail or digital brands +- **Cryptocurrency transfers** (where regulations allow) +- Option to **save funds for later** in the Chimoney wallet + +![Options.png](./images/options.png) + +Beyond these features, Chimoney also takes care of identity verification (KYC) automatically, so users can focus on what matters most: the main business operations like sending or receiving funds. + +## How Multi-Currency Wallet Transfers Work + +To further illustrate the process of how the multi-currency transfer works, we will break it down into a few simple steps: + +1. Amara’s client funded her Chimoney USD wallet +2. She converts the amount from USD to NGN at real-time rates +3. She sends payments to her team in NGN directly from her wallet +4. Her team can receive the payment in their local bank account or any of the redeemable options listed earlier +5. Amara can even choose to hold some funds in different currencies for future purposes (Optional) + +The diagram below provides a visual representation of how the process would work: + +![Workflow.png](./images/workflow.png) + +## Why This Matters + +Chimoney’s multi-currency wallet transfer is not just about receiving payment - it simplifies global money movement into one pipeline. It eliminates the bottlenecks associated with working internationally and provides a convenient way to receive and transfer funds across currencies. + +With Chimoney’s multi-currency wallet transfer: + +- Freelancers can now focus on their work, not payment logistics +- Remote teams can now get paid faster and in their local currencies +- SaaS tools can now integrate seamless payment flows using the multi-currency API, and so many more use cases. + +Also, since this solution takes an API-first approach, it takes away adaptation limitations. Developers can easily leverage the API to build modern app payment solutions. + +The following table highlights the core issues the multi-currency wallet transfer feature solves: + +| **Core Issue** | **Solved by Chimoney Multi-Currency Wallet Transfer** | +| -------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------- | +| Lack of multi-currency control | Users can hold and transfer multiple currencies in one wallet. No need for forced conversion. | +| Cross-border transfer complexity | Transfer money across countries instantly using Chimoney wallets -no banks or intermediaries. | +| Limited access for recipients without bank accounts and debit/credit cards | Recipients only need an email or phone number. No bank account required. | +| Complex or strenuous KYC process | KYC identification is automatically handled by Chimoney. | +| High fees and poor exchange rates | Transfers avoid unnecessary conversions and hidden charges, preserving more value. | +| Difficult integration for developers | Comes with simple, well-documented APIs to programmatically initiate and manage transfers. | + +## Conclusion + +Chimoney’s multi-currency wallet transfer is built for anyone who values speed, flexibility, and convenience in global payments. Whether you're a freelancer, a remote team, or a platform looking to streamline payouts, it simplifies the way money moves across borders, offering the tools you need to thrive in today’s fast-moving digital economy.