Embedly wallets can only be created for successfully created customers, using the returned Embedly customerId

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Wallet Management

The Wallet API empowers organizations to efficiently create, manage, and oversee customer wallets, offering a streamlined approach to financial operations. Embedly supports Open and Closed wallet types to meet varying regulatory, security, and operational needs. Each type has unique features and setup requirements.
Please note that this service can only be used to manage wallets created by you as an orgnisation

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Wallet types

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Open Wallet

Open Wallets function similarly to traditional bank accounts. They support full transaction capabilities, including movement of funds to and from external financial institutions.

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Common use-cases

  • Receiving funds into an Embedly wallet
  • Send funds to other wallets across platforms
  • Initiating payouts to external bank accounts
  • Atm withdrawals, POS payments and Online payments

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Flow


									[Create Customer]
											|
											v
								[Verify KYC - NIN / BVN]
											|
											v
								[Create customer Wallet]
									|				|
									v				v
				[Intra-Wallet Transfer]		 [Payout to Bank Account]

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Closed Wallet

Closed Wallet are restricted to internal transactions within your own ecosystem or embedly’s ecosystem.
Closed wallets do not support sending funds to external bank accounts or third-party wallets. However, they can be funded from any traditional nigerian account.
Closed Wallets are ideal for use cases where value is stored, exchanged, or redeemed exclusively within the boundaries of your platform. Since funds never leave the system, Closed Wallets are exempt from KYC requirements on production, making them easier to implement and manage.

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Common use cases

  • Loyalty or rewards systems
  • E-commerce wallets
  • In-app value storage (e.g. points or tokens)

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Flow

								[Create Customer]
       									|
       									v
								  [Add Wallet]
       									|
       									v
						[Fund Wallet via Third-Party App]
      									|
       									v
							[Wallet-to-Wallet Transfer]

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Merchant Profiling & Environment Behavior

By default, on the production environment, every customer you create must be KYC-verified up to at least Tier 1 before you can create a wallet for that customer.
Even after KYC and wallet creation, payout transactions will remain restricted unless your organization is profiled for the appropriate wallet type.
To enable wallet payout transactions or to exempt individual customer KYC requirements (for Closed Wallets), your organization must be explicitly profiled for either an Open or Closed wallet.

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📩 How to Request Wallet Profiling

To get profiled, send an email with the details below:

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✅ Email Details

  • To: support@embedly.ng
  • Subject: Wallet Profiling Request – Open or Closed

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✉️ Include the following in your email body:

  • Your Organization Name
  • Your Organization ID
  • Desired Wallet Type: Open or Closed
    On staging, customer KYC is required to create wallets. However, all wallets can be used to test payout endpoints without needing to request wallet profiling via email.

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Endpoints

  • Wallet Creation: This endpoint is used to create virtual or physical wallets for your customers
  • Get Wallet Details: This endpoint is used to retrieve your customer wallet details using the wallet number.
  • Get Wallet History: This endpoint is used to retrieve the bank statement of wallets created by you.
  • Get Wallets: This endpoint is used to retrieve all wallet numbers generated by you the organisation.
  • Process Wallet to Wallet Transfer: This endpoint is used to process transfer between 2 embedly wallets.
  • Restrict Wallet: This endpoint is used to add pre-configured restrictions on a wallet

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Conclusion

The Wallet API streamlines financial operations for organizations, ensuring users can manage their funds effectively while enhancing overall user satisfaction through a comprehensive wallet management solution.