Overview of PayMoney
- It is very difficult to remain thousands of miles away from the people you love & care a lot. But it should not be difficult to send money to your nearest & dearest ones. Hopefully, it will be easier now with PayMoney. PayMoney is an online payment gateway that ensures smooth and secure transaction from the pre-payment to the pay-out process.
- PayMoney is a much simpler & convenient way to send money online rather than going to bank or other ways. Just follow the PayMoney documentation to get started.
- It will help to keep your account more secure & reliable. Enjoy safe online payments through PayMoney. This system is similar to larger payment services like PayPal or Stripe.
- You can deposit money in few minutes with multiple currencies and multiple payment gateways like PayPal, Stripe, CoinPayments and much more.
- The main features of the application – Deposit, Payout, Transfer, Exchange, Request Payment, Ticketing system, Revenues, Merchants, Merchant Payment etc. If a user has any claim against any payment, he/she can claim to the defendant using Dispute.
Registered users can make deposit into payMoney. With our system payment methods, user can do deposit. User can select in which Wallet they want to deposit the amount.
It is possible transfer money to any registered or unregistered users. Unregistered users can see their money once they signup. Admin can block, refund for any illegal issues.
Registered users can request money to any Registered or Unregistered users. Request receiver has the option to approve the request or cancel it.
By pay Money, user can exchange any currency ‘From wallet’ to ‘To wallet’. Can set exchnage type as Local/API. Based on each currency exchange rate, amount will be converted and added on user wallets. Admin can see details about exchange in Currency Exchange.
Currently, we have 7 payment methods to deposit money – PayPal, Stripe, 2Checkout, PayUMoney, Coin Payments, Bank & Payeer. From Currencies->Payment method, admin can activate/deactivate payment methods.
Easily withdraw money from accounts. PayPal /Bank, how you want to payout your money? You have to set the Bank detailsin settings at first or, if it is PayPal just put your PayPal email address to payout money.
Fixed amount charge & charge percentage is revenue in PayMoney system.For transaction typeseach currency, admin can set few amount of charges from fees that will separately show in Revenues in admin panel. Only admin can see revenues.
Roles & permissions
As owner of this site you can add other user as admin providing permission to specific role.
Admin can add default group for site users. For group users, admin gives specific permission to each group.For example, Users may apply to be Merchant and admin can change his group to Merchant providing extra permission.
From settings-> preferences, admin can set Time zone, Date format, Money symbol, Thousands separator.
Admin can see each users login activity from activity logs.
Fees & Limits
Fees & Limits are the combination of currency and payment methods (Deposit, Transfer, Payout, Request payment & Exchange.). Fees are applicable as charge percentage & charge fixed where limit is the combination of minimum limit & maximum limit.
User can create merchants via this system. We have two types of merchant- Standard & Express.
In PayMoney Standard type user can create merchant and generate merchant payment form. By this form user will get the pay now option & do payment to merchant.
PayMoney Express Checkout gives your buyers a simplified and secure checkout experience using API that keeps them local to your website or mobile app throughout the payment process.
User can contact with merchant through Dispute option if user have any claim about their product. Administration can take action (Approved or Reject) discussion on both parties.
Ticket system is better way to dealing with customer about their issues where user can report or ask questions on various issues. If you have trouble with the site or program, you can use this option as help.
Email Templates & settings
To send mail we have dynamic email template which is changeable too. If you want you can change the template. It also supports multiple languages. We have two E-mail sending protocols. You can send email via SMTP and another one is default, send mail option.
2FA is an extra layer of security used to make sure that people trying to gain access to an online account are who they say they are. It is used to control access to systems and data from hackers. 2FA is allowed for By email, By Phone & By Google Authentication.
By email & phone: When you verify for email, a 6-digits code will be send to your email to verified your eamil address. By phone, verification process is same as email processing system.
By Google Authentication: Set up google authenticator app into your mobile phone before continuing, otherwise you will be unable to verify. Then scan QR code from your systems via phone & enter the 6-digit OTP from your app.
Email verification services help you to portect your account.This process is helpful to confirming that an email address is valid or not. System automatically send a verification code to the email address used to sign up for the account.
Manual Deposits & Payouts
Manual Deposit can possible by payMoney system. Admin can manually Deposit/payout for any individual users.
Know your customer (KYC)
It is the process of knowing your customers. It helps to verify the identity of any clients either before or during the time you start the business with them. KYC allows companies to protect themselves by ensuring that they are doing business legally or not, and it also protects the individuals who might otherwise be harmed by financial crime.
There are two types of verifications-
- Address verifications
- Identity verifications
Address verifications: Go to user profile and upload appropriate file for address verification. If admin approves it, it will display ‘Address verified’ in users list in admin panel and also in user profile in user panel.
Identity verifications: At first, from user panel select the identity type & provide your necessary credentials. When admin approves the user identity, it will show ‘Identity Verified’ in users list in admin panel and also as in user profile.
During each transaction admin will get email as transaction notification. Admin will be able to set individual admin email for individual transactions types (Deposit, Send, Request, Payout, Exchange, Payment).
To receive email notifications, admin must configure the notification settings from notification settings option. Admin can assign anyone (set email) for each transaction type.
User Status Change: Admin can change user status to Active/Inactive/Suspend.
Active: Users can do all types of activities from his/her panel.
Inactive: Users can’t login to the system. While going to login into the system a message will appear to the user that he/she is inactivated.
Suspend: Users will be able to login to the system, but they can’t do any type of transactions (Deposit, Send Money, Request payment, Exchange, Payout, Merchant payment)
Send/Request Money via Phone number
User can Send/Request money via user phone number ( Registered or unregistered users). While transferred amount or send request to user phone number, user get sms on their mobile number.
New Released Features (v-2.7)
CryptoCurrencies: We have used Block.io (https://block.io) payment method for cryptocurrencies. Block.io supports 3 currencies- BTC, LTC & DOGE (and their TESTNETS!). CryptoCurrencies can be send and received from Pay Money. Users can send cryptocurrency to any valid crypto wallet address. Admin can send and receive cryptocurrencies from users too.
Twilio SMS Gateway: Now, you will get SMS message through Twilio SMS gateway. To configure it, go to Settings->SMS Settings, put the twilio credentials & activate it.