ForumPay offers merchants two methods for sending crypto payouts: Wallet Payments and Buy Orders. This article provides an overview of both options to help you decide which method is best suited for your needs.

1. Wallet Payments

Every ForumPay merchant account includes a crypto wallet for each cryptocurrency supported by ForumPay. To make a Wallet Payment, merchants must have enough cryptocurrency in their wallet to cover the payout amount. With stablecoins they must also hold enough of the cryptocurrency used to pay blockchain transfer fees.

Funding the Wallet:

• Deposit Fiat: Merchants can deposit fiat currency with ForumPay (conversion fees apply).
• Settlement Transfer: Merchants can transfer some or all of their ForumPay settlement directly to their wallet.

Initiating Payouts:

• Payouts can be initiated via the Merchant Dashboard (either as a single payout or in batches) or through ForumPay’s API.
• Merchants have the option to cover the blockchain transfer fee or pass it on to the recipient.

Key Features:

• No Limits: Wallet payments have no transactional or daily limits.
• No Fees: There are no fees associated with wallet payments, except for blockchain transfer fees.
• Time Flexibility: Payments can be made at any time.
• Ideal Use Case: Wallet payments involve holding cryptocurrency and being exposed to price fluctuations so are best suited for merchants making payouts primarily in stablecoins.

2. Buy Orders

Buy Orders allow merchants to use their fiat balance to purchase and send cryptocurrency for payouts.

Building Fiat Balance:

• Processing Payments: Any balance from unsettled payments can be used for buy orders.
• Depositing Funds: Merchants can deposit fiat through traditional bank methods. These funds are excluded from settlements and remain on the account balance.
• Holding a Reserve: Merchants can set a reserve to maintain a balance for sending buy orders. With each settlement, the reserve will be replenished, and the remaining balance will be settled.

Initiating Buy Orders:

• Buy Orders can be initiated through the Merchant Dashboard or ForumPay’s API.
• They are sent instantly, and the blockchain transfer fee can be covered by the merchant or passed to the recipient.

Key Features:

• Limits: Transactional and daily limits are based on account underwriting and merchant needs.
• Fees: Buy Orders incur fees, which are determined by your commercial agreement with ForumPay.
• Price Stability: Merchants are not exposed to cryptocurrency price volatility, as they do not hold any crypto.
• Ideal Use Case: Perfect for merchants making numerous payouts in different cryptocurrencies without holding crypto.

3. Contact Information

For further information or assistance with ForumPay’s payout options, please reach out to your Account Manager or email us at [email protected].