Withdrawal Flow

Last updated 8 months ago

Withdrawal Flow

For platforms enabling withdrawals, Tylt streamlines the management of user funds, providing merchants with a reliable and efficient payout mechanism. Below are common industries where this flow is essential:

Customer Balance Withdrawals

iGaming: Instant withdrawals are a game-changer in the fast-growing online gaming industry, where 55% of players are likely to switch platforms offering instant access to winnings. This feature helps retain players and boosts deposits.
Trading & Investing: With nearly 50% of investors willing to switch to platforms offering instant withdrawals, providing fast payouts is crucial. Platforms offering real-time fund access are more likely to attract and retain users, especially Millennials, who expect seamless experiences.

Payouts & Refunds

Retail: Fast refunds have become essential, with 81% of shoppers expecting refunds within a week. Quick refunds directly influence purchase decisions, especially for higher-ticket items, helping brands build loyalty.
Insurance: Instant payouts give insurers a competitive edge, reducing manual reconciliation and enhancing customer satisfaction. Automating payouts minimizes errors and delivers faster settlements, improving client retention.

Example Flow:

Customer Request: A customer on the merchants platform requests to withdraw funds from their account.
Merchant Action: The merchant, who holds the customer's crypto funds in their Tylt account, initiates the payout using the . The merchant provides the customer's withdrawal address and the amount to be sent.
Payment Processing: Tylt processes the payout by sending the specified amount of cryptocurrency to the customer's withdrawal address.
Notification: Once the payout is processed, Tylt sends a callback to the merchant’s system, providing key details such as the transaction status, currency, amount, and any applicable fees.
Merchant Update: Upon receiving the callback, the merchant updates the customer’s account balance, reflecting the withdrawn amount.
Tracking: The merchant can track and manage all payout-related information, including transaction details and account balances, via their Tylt account or through the I.

PreviousE-commerce Flow

Last updated 8 months ago

Customer Balance Withdrawals

iGaming: Instant withdrawals are a game-changer in the fast-growing online gaming industry, where 55% of players are likely to switch platforms offering instant access to winnings. This feature helps retain players and boosts deposits.
Trading & Investing: With nearly 50% of investors willing to switch to platforms offering instant withdrawals, providing fast payouts is crucial. Platforms offering real-time fund access are more likely to attract and retain users, especially Millennials, who expect seamless experiences.

Payouts & Refunds

Retail: Fast refunds have become essential, with 81% of shoppers expecting refunds within a week. Quick refunds directly influence purchase decisions, especially for higher-ticket items, helping brands build loyalty.
Insurance: Instant payouts give insurers a competitive edge, reducing manual reconciliation and enhancing customer satisfaction. Automating payouts minimizes errors and delivers faster settlements, improving client retention.

Example Flow:

Customer Request: A customer on the merchants platform requests to withdraw funds from their account.
Merchant Action: The merchant, who holds the customer's crypto funds in their Tylt account, initiates the payout using the . The merchant provides the customer's withdrawal address and the amount to be sent.
Payment Processing: Tylt processes the payout by sending the specified amount of cryptocurrency to the customer's withdrawal address.
Notification: Once the payout is processed, Tylt sends a callback to the merchant’s system, providing key details such as the transaction status, currency, amount, and any applicable fees.
Merchant Update: Upon receiving the callback, the merchant updates the customer’s account balance, reflecting the withdrawn amount.
Tracking: The merchant can track and manage all payout-related information, including transaction details and account balances, via their Tylt account or through the I.