How does Compliant Wallet Infrastructure help you automate and improve your payments
Wallets
When signing up to ZTLment you will receive two wallets (also referred to as 'accounts' in this documentation), namely a split wallet and treasury wallet. Each of these wallets will have a unique Virtual IBAN tied to it, which is used for both making payments in to the accounts and for paying out. In addition to these wallets, you can create Vendor Wallets (also referred to as Vendor Accounts) for each of your vendors, to store the funds that belongs to your vendors. This enables you to separate your vendor’s funds from your own, keeping your accounting clean and clear.
Treasury Wallet
This wallet stores funds that belongs to your business. From this wallet you can make standard payouts, and you can top-up the account directly via the attached virtual IBAN.
Vendor Wallet
Also referred to as Vendor Accounts. These wallets store funds that belong to your vendors, until they are paid out to their bank (currently on a weekly schedule).
Split Wallet
This wallet is used for splitting payments between your vendor wallets and your treasury wallet. In most cases these funds are coming from an acquirer.
Payments Flow
Below is the payments flow for making standard payouts to recipients via the treasury wallet or split payouts via the split and vendor wallets. Payouts from Vendor wallets are currently made to their IBAN once per week.
