Merchants management
As already mentioned in the section on core concepts, the Partner must create their Merchants in the system, configure their settings, and then, through integration with the SMARTy API and using SMARTy widgets, process cryptocurrency payments.
To create a merchant, the following settings must be configured in the Partner UI.
Currently, we support adding Merchants only through the UI; in the future, this capability will be available via API.
Step 1. Basic Settings
At this stage, it is necessary to specify the Merchant's name, the web3 Merchant's address, which is controlled by the Merchant (i.e., the Merchant owns the private key), and set a corporate email for receiving notifications.
Step 2. Choosing Available Tokens
Here, you need to select the tokens in which the merchant would like to settle payments.
Step 3. Withdrawal Schedule
The system supports automatic withdrawals according to a schedule, which can be set at this stage. If no withdrawal schedule is set, the accumulated funds will remain in the merchant's smart contract until automatic withdrawal is activated or a withdrawal is initiated through the API.
In any case, the funds can be withdrawn to the Merchant's address only (set on the step 1).
Step 4. Confirming the Merchant's Address
To ensure that the Merchant indeed controls the address, specified in step 1, it is necessary to send the Merchant a link to the ownership confirmation page.
On this page, the Merchant will be prompted to sign a special message through a web3 wallet, and SMARTy Pay will verify the signature for correctness.
Step 5. Setting the KYB Completion Flag
The Partner is fully responsible for compliance regarding their merchants, and these procedures are beyond the scope of SMARTy Pay. For the Partner's convenience, the system includes a "KYB completed" flag, which the Partner can set once all necessary procedures are completed.
Without setting this flag, payments in the mainnet will be unavailable.
Step 6. Configuring Gas Wallets
The Partner should set up Gas Wallets for all networks where cryptocurrency payments are expected to be accepted. After creating the Gas Wallets, they need to be replenished with the native token of the network. The exact amount of tokens to be deposited depends largely on the expected number of transactions; consult with SMARTy Pay technical support for the necessary amount.
What's next?
After you set up your Merchant(s), you can continue managing them through the Partner UI.
You can also start working with them via the API and process payments.