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Currency API Documentation

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Overview

The wallet service supports multiple currencies for transactions and account management. Currency support is integrated across various services including accounts, payments, transfers, and settlements.

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Supported Currencies

The system currently supports the following currencies:

• USD (US Dollar)
• EUR (Euro)
• GBP (British Pound)
• JPY (Japanese Yen)
• AUD (Australian Dollar)
• CAD (Canadian Dollar)
• CHF (Swiss Franc)
• CNY (Chinese Yuan)
• INR (Indian Rupee)
• RUB (Russian Ruble)
• BRL (Brazilian Real)
• ZAR (South African Rand)
• NGN (Nigerian Naira)

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Currency Integration

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Account Management

• Each account is associated with a specific currency
• Multiple accounts in different currencies can be created for a user
• Currency is specified during account creation
• Currency cannot be changed after account creation

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Payment Processing

• Card payments support multiple currencies
• USSD payments support multiple currencies
• POS card payments support multiple currencies
• Currency must be compatible with the payment provider

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Transfer Operations

• Intra-wallet transfers require matching currencies
• Interbank transfers support currency conversion
• Deposits support multiple currencies
• Withdrawals support multiple currencies

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Currency Validation

• Currency code must be valid and supported
• Currency must be compatible with the payment provider
• Currency must be compatible with the bank for interbank transfers
• Currency must be compatible with the country for USSD payments

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Currency Limits

• Transaction limits are currency-specific
• Daily limits are enforced per currency
• Monthly limits are enforced per currency
• Tier limits are currency-specific

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Currency Conversion

• Interbank transfers support currency conversion
• Conversion rates are provider-specific
• Conversion fees may apply
• Conversion is handled by the payment provider

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Currency Settlement

• Settlement accounts can be in different currencies
• Auto-settlement supports multiple currencies
• Settlement fees may vary by currency
• Settlement timing may vary by currency

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Best Practices

1. Account Creation:
   • Choose the appropriate currency based on user needs
   • Consider payment provider support
   • Consider bank support for interbank transfers
   • Consider country-specific requirements
2. Payment Processing:
   • Verify currency support with payment provider
   • Handle currency conversion if needed
   • Consider exchange rates and fees
   • Validate currency compatibility
3. Transfer Operations:
   • Match currencies for intra-wallet transfers
   • Handle currency conversion for interbank transfers
   • Consider exchange rates and fees
   • Validate currency compatibility
4. Settlement:
   • Choose appropriate settlement currency
   • Consider exchange rates and fees
   • Handle currency conversion if needed
   • Validate currency compatibility

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Error Handling

• Invalid currency codes are rejected
• Incompatible currencies are rejected
• Unsupported currency conversions are rejected
• Currency-specific errors are handled appropriately

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Security Considerations

• Currency validation is enforced
• Currency conversion is monitored
• Currency-specific limits are enforced
• Currency-specific fees are validated

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Monitoring and Reporting

• Currency usage is tracked
• Currency conversion rates are monitored
• Currency-specific errors are logged
• Currency-specific performance is measured

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Future Considerations

• Support for additional currencies
• Enhanced currency conversion features
• Improved currency validation
• Better currency-specific reporting