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Version: multi-v3

Application Payment Models

Weavr uses payment models to help you make sure that your applications comply with regulatory requirements. For example, to make sure that you can only assign consumer virtual cards to consumers that you verified using approved KYC processes.

Weavr currently provides three main payment models:

  • Consumer Payments
  • Business Purchasing
  • Business Payouts

Our payment model infrastructure is flexible. We can quickly create custom payment models that fit your needs by using existing payment components or new payment components as they become available.

Consumer Payments

The Consumer Payments model is intended for applications that will be used by individuals (not business entities). With this model, you can use a Weavr entity to create a consumer identity that represents your customer. The consumer may have a managed account to store funds and prepaid mode cards, which they load from the managed account using the transfer transaction. They may also have debit mode cards, which tap into the balance of the managed account.

The following is a representation of the structure of this payment model.

Consumer Payments Model

This payment model includes four types of components – consumer identity, managed account, managed card, and transfer.

Business Payments

The Business Payments model is intended for applications that will be used by business entities (corporates). With this model, you can use a Weavr entity to create a corporate identity that represents your customer. The corporate may have a managed account to store funds and managed cards, which they can load from the managed account using the transfer transaction.

The following is a representation of the structure of this payment model.

Corporate Payments Model

This payment model includes four types of payment components – corporate identity, managed account, managed card, and transfer.

Business Payouts

The Business Payouts model is intended for applications that let corporates make payments to consumers, for example, payments from rental sites to home owners. With this model, you create a corporate identity for the business entity and a consumer identity for the individual who needs to receive payments. By using the send transaction, your corporates can transfer funds from their accounts to virtual cards used by consumers.

A corporate can load funds into the managed account by bank transfer, using the IBAN provided by Weavr.

Consumer Payments Model