CapriPay Business Account
CapriPay Business Account
To open a business account, in addition to information provided for opening a personal account, it will also require your business type, company name and address.
Please Provide valid and accurate information regarding account holder and business details as merchant wallet will need to undergo account verification before allowed to operate.
Note: Your username will be used as your login and as your account address for member-to-member transactions.
Becoming a merchant gives your account additional tools to create payment requests, receive payments, give cashback, issue refunds, and become listed on the website.
After registering a merchant account, to be able to start processing payments with CapriPay you will need to verify your business. To do that you will need to provide account holder ID (photo, full name, and date of birth) and a proof of business (company name, registration number, owner’s name, and address).
There document can be uploaded in electronic format from Verify Merchant page.
It takes up to 48 business hours to for an account to be reviewed.
Once your merchant account is verified you can proceed to setting up your cashback settings, API integration, and apply for the website listing.
Cashback can help merchants building up customer base, and earning loyal customers.
Merchants with higher cashback offers tend to get higher level of interest from the customers.
To setup the cashback amount that you wish to give back to your customer base - go to Cashback page in the merchant section.
The default cashback percentage is set to 2%. If you wish to change that you can do so within the given range at any time.
Every merchant needs to be verified before begin able to process payments with CapriPay.
After a merchant account is fully verified new options will become available in the merchants backoffice, including access to the API document, merchant ID, merchant key, merchant mobile application, etc.
If you are an online shop, then you can use the API document to integrate the CapriPay payment solution on your website. If you have any question related to the integration of the CapriPay API, feel free to contact customer support.
If you are a local shop that operates in a physical shop, then you can manually create orders and process payments through your back-office (will be available soon), or by using the CapriPay mobile app.
The CapriPay app manual order creation system allows merchants to create the following types of payment requests (soon will become available in CapriPay back-office):
- - CapriPay payment
- - CapriPay-Cash payment
- - Cash Payment
Capricoin Payment
This is the traditional payment request type where the merchant sets the full price in local currency or CPC, whichever is preferred. The customer completes the order by transferring 100% of the price to the merchant through CapriPay.
(Note: the merchant will receive the order price minus the cashback)
Capricoin-Cash Payment
This option allows the merchant to receive some portion of the payment directly in cash. In this case the merchant will set the full price in local currency, then indicate how much of that needs to be paid in cash, and the system will automatically calculate the remaining balance that needs to be paid through CapriPay by the customer. The customer will pay the cash to the merchant, and then completes the order by transferring the leftover CPC amount to the merchant's account through CapriPay.
Cash Payment
This process is very similar to previous one “CapriPay-Cash Payment”, only in this case the merchant sets the order price and cash payment to be equal. Meaning that the full transaction value will be paid in cash directly to the merchant, and the leftover 0 CPC transaction paid through CapriPay (It is required to send the 0 CPC to register the transaction in the system and to give out the cashback). The customer gives the cash to the merchant and then completes the order by transferring the leftover amount (in this case 0) to the merchant through CapriPay.
By doing this it becomes possible:
1. For the merchant to receive cash directly
2. For the user to receive cashback to his account (even though the CPC transfer was 0).
Please note that to use the CapriPay-Cash payment or Cash payment options the merchant must ensure that his coin balance has sufficient amount to cover the cashback. Otherwise the system will not allow to create a payment request (order).
When creating a payment request that includes a cash payment, the cashback amount will be reserved from the merchant’s account as soon as the order is created. It will be then used to payout the cashback or will be returned to the merchant if the order is canceled or expired.
Example:
If the order price is 100 CPC, the Cash Payment amount is set to more than 0 CPC, and the merchant’s cashback is 10%, then system will deduct 10 CPC from the merchant's account to create such an order request.
Once the order is created , the merchant needs to share the order QR code with the customer. This can be done by using any digitally available option of the device or by simply allowing the customer to scan the code directly from the screen of the merchant’s device.
After scanning the QR code the customer will receive all the necessary order details to his device. At this point it is up to the customer to review and complete the order.
Please note that a merchant’s payment request expires in 15 minutes after the creation.
Once an order is created it will appear on the Merchant Transactions page as a new order. After the order is paid it will change the status from “New” to “Escrow”.
After the end of the escrow period the transaction will change the status to “Completed” and the amount will get transferred to the merchant’s personal account.
A new order can be canceled by the customer or the merchant, or become expired if not paid within 15 minutes.
All paid orders become escrowed based on the merchant’s escrow settings. After the end of the escrow period the paid order will change status to “Completed” and the amount will get transferred to the merchant’s personal account.
The escrow period ensures that the merchant can perform a full refund of CPC to the customer’s account.
For the online shops the escrow period is 14 days. For the local shops the escrow period can be set to a minimum setting of 1 day.
To inquire about your escrow period change, please contact customer support.
Why do I need escrow? Can it be zero?
An order can be refunded only while it is in “Escrow”. All escrowed order can be found in on the “Merchant Transaction” page.
Each escrowed transaction will have a refund button next to it. By clicking on the refund button the transaction will be frozen until the merchant cancels or confirms the refund.
All the balance that is available to transfer within CapriPay or to withdraw outside of CapriPay is stored on the merchant’s personal account section.
Merchants can:
- Transfer their available balance (CPC) to other CapriPay accounts.
- Withdraw their available balance (CPC) to external crypto wallets like Capricoin desktop wallet.
- Withdraw their available balance in fiat currency directly to any bank account (will be available soon).
Becoming listed on the CapriPay website gives additional visibility and status to any merchant. CapriPay merchant list is the first place where customers can find new merchants to shop with.
Creating a CapriPay website listing profile, providing accurate and detailed information, giving out a higher cashback – all these makes your shop more attractive for the customer base.
To become listed on the CapriPay website please go to “Merchant Listing” page. After completing and submitting the form it will take up to 2 business days to review your request. Once your listing profile is approved, your profile will be added to the CapriPay website listing.
To edit any information in a merchant’s profile after it has been added to the website, it should be done by Requesting Information Change that is available on the same Merchant Listing page. An information change request will be reviewed within 2 business days.
If you wish to remove your profile from the website, please contact customer support.
Only verified merchant can become listed on the CapriPay website.
The CapriPay logo for merchants and other marketing materials are available for verified merchants in the marketing section of the back-office.
A merchant account can be downgraded to a personal account at any time by contacting customer support.
By downgrading a merchant account, the member will not lose any information about previously completed transactions, or any transactions in escrow.
After downgrading an account, the member will always have a chance to retrieve his merchant details at any time when the member chooses to upgrade again.
Contact details
Mario Erlank
Mail: marioerlank@gmail..com
Skype (chat): marioerlank@gmail.com
Web: www.vizionary.com/wealthproject
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