Wallets are digital accounts that store, manage, and facilitate transactions in different currencies. Finmo has two types of wallets:

• Master Wallet: A centralized wallet owned by the organization, used to initiate and manage all transactions across the platform.
• Customer Wallet: A dedicated wallet created and managed by the organization on behalf of each customer, enabling individual transaction tracking and control.

The Org Wallets module helps to view and manage wallet activities at a glance. Wallets are currency-specific, enabling easy tracking of balances, transactions, and virtual accounts. It also supports top-ups, deposit proofs, and account creation.

By default, every organization is provided with essential wallets:

• Payin Wallet
• Payout Wallet
• Fees Wallet
• GCA Wallet

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Information

An additional GCA Wallet (Global Collection Account) is provided to carry out cross border payments.

Wallet Dashboard Overview

Wallet Summary: Displays a list of all wallets linked to the organization

Currency-Specific Balances: Shows individual balances across supported currencies

Total Wallet Balance: Provides a consolidated view of available balances in each wallet

Wallet ID: Each wallet has a unique identifier that can be copied directly

Wallet Actions

Each wallet includes the following functional actions for seamless operations:

• Top Up: Initiate a top-up to add funds to the selected wallet through approved funding methods
• Proof of Deposit: Upload documents to validate deposits made to a wallet. Status tracking for uploaded proofs is also available
• Create VA (Virtual Account):Generate a Virtual Account mapped to the respective wallet, allowing for the efficient collection of funds
• Wallet Transactions: Access the transaction history, including debits, credits, and timestamps associated with wallet activity
• Configure Default Currency: Organizations can assign a default transaction currency from the list of enabled currencies

Note: This is specific to GCA-enabled organizations only.

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A default currency can only be selected from currencies that have already been enabled for the account.

Payin Wallet

Payout Wallet

Fees Wallet

GCA Wallet