Wallets
Wallets
are arguably the most crucial abstraction within Sulu’s billing and payment infrastructure. They are the engine powering real-time pay-as-you-go (PAYG) billing and enabling flexible monetization strategies.
What are Wallets?
Every Organization
in Sulu, whether acting as a Merchant
or a Consumer
, possesses at least one Wallet
.
- Ownership:
Wallets
are owned byOrganizations
. - Function: They act as a repository of funds within the Sulu ecosystem.
- Currency: Each
Wallet
is denominated in a specific currency (e.g., USD).
Think of a Wallet
as a prepaid balance or a virtual account held within Sulu. This balance is the key to enabling immediate, real-time transactions for usage. Crucially, Wallets
offer two major advantages:
- Universal Payment Medium: A
Consumer
’sWallet
balance isn’t tied to a single merchant. It can be used to pay for any product or service monetized through the Sulu platform, creating a seamless experience across different vendors. - Payment Abstraction for Merchants: When a
Consumer
pays via theirWallet
, theMerchant
receives the funds directly into theirWallet
. TheMerchant
doesn’t need to worry about theConsumer
’s original funding source (credit card, bank transfer, etc.), the geography, or the associated compliance complexities. Sulu, leveraging its global banking partnerships, handles the intricacies of the underlying payment methods and ensures real-time settlement betweenWallets
.
Enabling Real-Time PAYG
The core superpower of Wallets
, powered by the payment abstraction mentioned above, is facilitating true PAYG billing:
- Consumer Top-up:
Consumers
add funds to theirWallet
using various methods supported by Sulu (e.g., credit cards, bank transfers). - Merchant Reports Usage: When a
Consumer
uses aMerchant
’s product, theMerchant
reports aUsage Event
to Sulu. - Real-time Billing & Payment: Sulu instantly calculates the cost based on the
Customer
’sSubscription
(Plan
andPrice
) and the reported usage. - Instant Fund Transfer: The calculated cost is immediately deducted from the
Consumer
’sWallet
balance and credited to theMerchant
’sWallet
balance.
This real-time flow eliminates many problems associated with traditional post-paid billing:
- Eliminates Unpaid Invoices: Payment happens at the time of usage, not days or weeks later.
- Reduces Chargeback Risk: Since funds are transferred from a pre-funded balance, chargeback risks associated with credit card payments for past usage are significantly mitigated.
- Prevents Runaway Usage: Merchants can use the Entitlements API to check if a
Consumer
has sufficient balance before granting access to a resource, preventing usage beyond the available funds. - Customer Cost Control: Consumers have clear visibility into their spending and can’t be charged beyond their
Wallet
balance, providing cost certainty.
Other Use Cases
Beyond pure PAYG, Wallets
support various billing scenarios:
- Prepaid Credits: The standard
Wallet
functions directly as a prepaid credit system. - Vouchers & Promotions: Merchants can credit
Consumer
Wallets
directly as part of promotional offers or compensation. - Usage Aggregation: While payments are real-time, usage data is still aggregated for invoicing and analytics.
- Spending Limits: The
Wallet
balance inherently acts as a hard spending limit for Consumers.
Payouts for Merchants
As Consumers
use a Merchant
’s product, funds accumulate in the Merchant
’s Wallet
.
Merchants can withdraw these accumulated funds via Payouts
.
- Destination: Payouts are sent to an
External Bank Account
linked to theMerchant
Organization
. - Requirements:
- The
Merchant
Organization
must be fully verified and approved (due diligence process). - An
External Bank Account
must be added and verified.
- The
- Initiation: Payouts can be requested via the Sulu Merchant Dashboard.
If you have questions about your account status or adding an External Bank Account
, please contact the Sulu team.
Next, let’s explore how you define what you sell using Products.